Weekly recap: Nasdaq gains 0.85% while inflation keeps rates in focus

U.S. equities finished the August 24–28, 2026 week with modest index gains, but the path remained uneven. The Nasdaq Composite rose 0.85%, the Dow added 0.53% and the S&P 500 gained 0.49%. Communication services and technology led the sector board, the VIX eased to 14.43, and the Treasury curve sent a mixed signal as the 2-year yield rose while the 10-year yield slipped.

The week in 5 points

1. The major indexes moved higher. From the August 21 close to August 28, the Nasdaq Composite gained 0.85%, the Dow 0.53% and the S&P 500 0.49%.
2. Leadership was narrow at the sector level. Communication services gained 1.41%, technology 1.32% and financials 1.08%. Health care lost 1.96%, industrials 1.75% and energy 1.53%.
3. NVIDIA delivered another large AI quarter. Fiscal-Q2 revenue reached $96.2 billion, up 106% from a year earlier, including $89.0 billion from Data Center. Management guided fiscal-Q3 revenue to $108.0 billion, plus or minus 2%, without assuming Data Center compute revenue from China.
4. Inflation stayed above the Federal Reserve’s objective. July PCE prices rose 0.2% from June and 3.7% from a year earlier; core PCE prices also rose 0.2% for the month and 3.3% over 12 months. Current-dollar spending rose 0.2%, while real PCE was essentially unchanged.
5. Friday’s policy message kept rates in focus. At Jackson Hole, Chair Kevin Warsh said inflation was above the Fed’s 2% target and that the predominant focus should be on prices. Over the full week, the 2-year Treasury yield climbed 10 basis points to 4.34%, while the 10-year yield edged down 1 basis point to 4.73%.

Sector scoreboard

Your tickers this week

These rows describe closing-price changes rather than a complete explanation of every buyer and seller. A weekly move can reflect company news, positioning, valuation, rates and market structure at the same time, so no single cause is assigned where the available evidence does not establish one.

Notable earnings

Next week

• Tuesday, September 1 at 10:00 a.m. ET: the BLS schedules July job openings and labor turnover. Credo Technology is listed to report after the close.
• Wednesday, September 2: Hewlett Packard Enterprise is listed to report after the close; the BLS schedules July metropolitan employment and unemployment for 10:00 a.m. ET.
• Thursday, September 3 at 8:30 a.m. ET: the BLS schedules revised second-quarter productivity and costs, while BEA schedules July international trade. UiPath is listed after the close.
• Friday, September 4 at 8:30 a.m. ET: the BLS schedules the August Employment Situation, including payrolls and the unemployment rate.

The week ended with higher broad indexes, leadership from communication services and technology, lower index volatility and a steep rise in the 2-year yield on Friday. That combination is not a single all-clear signal: inflation, policy expectations and company-specific earnings can still produce very different outcomes across stocks and option chains. This recap is educational market information, not personalized financial advice or an instruction to trade.