The S&P 500 gained 0.49 percent, while the Nasdaq rose 0.85 percent. The Dow ended the week up 0.53 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.17 percent.¹˒²
An Active News Week
Chip stocks fell as the week got underway, weighing on the S&P 500 and Nasdaq. Reports that the Treasury Department may buy back its own bonds also helped push yields lower.³˒⁴
The Personal Consumption Expenditures (PCE) Report came out midweek. The Fed’s preferred measure of inflation was a little hotter than expected, although core PCE, which excludes food and energy, was in line with forecasts.⁵
Stocks bounced back Thursday as investors reacted to stronger-than-expected second-quarter corporate reports. Several major technology companies pointed to artificial intelligence as a factor behind their results and offered strong guidance. Semiconductor stocks and other AI-related names led the gains, helping lift the Nasdaq and S&P 500.⁶
Stocks were initially little changed Friday following Fed Chair Kevin Warsh’s keynote speech, but sellers took control later in the session. Short- and intermediate-term Treasury yields, including the 10-year Treasury note, moved higher as investors weighed Warsh’s comments on inflation.⁷
Signals from Jackson Hole
At the Federal Reserve’s 2026 Economic Policy Symposium in Jackson Hole, Fed Chair Warsh expressed concerns about current inflation trends. He also said he believes “less is more” when it comes to the Fed communicating about future policy moves.
In separate speeches, Cleveland Fed President Beth Hammack, Dallas Fed President Lorie Logan, and Minneapolis Fed President Neel Kashkari appeared to support higher short-term rates. Fed Governor Christopher Waller, Kansas City Fed President Jeffrey Schmid, and Vice Chair Philip Jefferson also took a modestly hawkish tone in their statements.⁸
Economic News to Watch
Tuesday: Purchasing Managers Index (PMI)—Manufacturing. Construction Spending. Job Openings & Labor Turnover Survey.
Wednesday: ADP National Employment Report (private sector). Factory Orders. Federal Reserve Beige Book.
Thursday: Trade Balance. Weekly Jobless Claims. Purchasing Managers Index (PMI)—Services. Fed speeches, ‘Connecting Communities’ online event: Beth Hammack (Cleveland), Austan Goolsbee (Chicago).
Friday: U.S. Employment Report.
Source: Investor’s Business Daily - Econoday economic calendar: August 28, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Upcoming Earnings Reports
Tuesday: Dell Technologies Inc. (DELL), Palo Alto Networks, Inc. (PANW), Medtronic (MDT)
Wednesday: Broadcom Inc. (AVGO), Snowflake Inc. (SNOW), Hewlett-Packard Enterprise Company (HPE)
Thursday: Ciena Corporation (CIEN)
Source: Zacks, August 28, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.
Footnotes And Sources1. WSJ.com, August 28, 2026
2. Investing.com, August 28, 2026
3. CNBC.com, August 24, 2026
4. CNBC.com, August 25, 2026
5. CNBC.com, August 26, 2026
6. CNBC.com, August 27, 2026
7. WSJ.com, August 28, 2026
8. WSJ.com, August 28, 2026
Source: YCharts.com, August 29, 2026. Weekly performance is measured from Monday, August 24 to Friday, August 28. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.