Stock Market Today: Nvidia Beats, Inflation Stays Hot & AI Stocks Jump - Aug. 26

Admin User·August 27, 2026·7 min read

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Stock Market Today: 9 Things That Mattered — August 26, 2026

What actually mattered today — and what matters tomorrow.

Stocks barely moved during the regular session Wednesday, but don't let the closing numbers fool you.

Hotter inflation, another big Nvidia beat, falling oil, rising Treasury yields and several major after-hours earnings moves completely changed the setup heading into Thursday.

TODAY IN 20 SECONDS

S&P 500: -0.02% → 7,675.70
Nasdaq: -0.08% → 26,130.20
Dow: -0.21% → 53,463.88
10-Year Treasury: 4.647%
WTI crude: $82.23, -0.16%
Brent crude: $87.84, -0.84%
Gold: $4,595.33, -1.32%
Nvidia: nearly +5% after hours after another major AI-demand beat
Salesforce: +14% after hours
CrowdStrike: +10%+ after hours

1. NVIDIA DELIVERS — AND THE AI TRADE ISN'T SLOWING YET

Nvidia was the biggest event of the day, and the numbers were strong.

Revenue: $96.22B vs. $92.17B expected
Adjusted EPS: $2.22 vs. $2.10 expected
Data Center revenue: $89B vs. $85.08B expected
Q3 revenue guidance: $108B ±2% vs. $104.19B expected

Data Center revenue grew 117% year over year.

But arguably the biggest number wasn't this quarter at all.

Nvidia said it expects revenue in the fiscal year ending January 2028 to grow roughly 70%. Wall Street had been modeling closer to 44% growth.

That's an unusually long-range forecast for Nvidia and sends a pretty clear message: management doesn't think the AI infrastructure boom is close to finished.

The company also said its new Vera Rubin platform has started shipping and should account for roughly one-fifth of Data Center revenue during the current quarter.

Nvidia and AWS also plan to deploy another 2 million Nvidia GPUs across Amazon's infrastructure in 2027 and 2028.

The stock initially dipped after earnings as investors focused on memory shortages and margin pressure. But the reaction reversed during the call, with shares climbing nearly 5% after hours.

Why it matters: this isn't only an NVDA story. If the move holds Thursday, watch the read-through into semiconductors, memory, networking, AI cloud and data-center infrastructure names.

Stocks on my radar: AMD, AVGO, MU, CRWV, NBIS and the broader semiconductor complex.

2. INFLATION IS STILL STICKY

July PCE inflation came in a little hotter than expected.

Headline PCE: +3.7% YoY
Core PCE: +3.3% YoY
Monthly PCE: +0.2%
Q2 GDP: +1.5%

The bigger issue is that inflation remains well above the Fed's 2% target while the economy is still showing resilience.

That's a difficult combination for investors hoping the Fed can quickly move toward easier policy.

Rate markets were pricing roughly a 36%–40% chance of a September hike around Wednesday's close.

Why it matters: AI earnings can keep the growth trade alive, but higher rates remain the biggest valuation risk sitting on top of that trade.

3. TREASURY YIELDS AND THE DOLLAR MOVED HIGHER

The inflation report pushed rate-sensitive markets around even though stocks barely moved.

10Y Treasury: 4.647%
2Y Treasury: 4.211%
30Y Treasury: 5.168%
Dollar Index: +0.24% to 99.15
Gold: -1.32% to $4,595.33

The 10-year yield remains one of the most important charts in this market.

If yields start pushing back toward recent highs, high-multiple growth stocks could feel the pressure even with strong earnings.

If yields cool while AI earnings remain strong, that's a much friendlier setup for risk assets.

4. OIL FALLS AS THE MARKET WATCHES HORMUZ TALKS

Oil had another volatile session as traders followed negotiations involving Iran and Oman over the Strait of Hormuz.

WTI settled at $82.23, down 0.16%, while Brent fell 0.84% to $87.84.

Both contracts traded substantially lower intraday as the market started pricing a greater possibility of partial reopening or negotiated shipping arrangements through the strait.

But the situation is far from normalized.

Only five commodity vessels reportedly passed through the strait Tuesday versus a 10-day average of 15, and Iran has said reopening still depends on U.S. conditions.

Why stocks care: lower oil reduces inflation pressure, helps bonds and potentially gives the Fed more flexibility. Another geopolitical escalation would quickly reverse that equation.

5. SALESFORCE +14% AFTER HOURS — A BIG NIGHT FOR SOFTWARE

Salesforce delivered one of the strongest after-hours moves.

Quarterly revenue grew 11% to $11.35B, and management raised its fiscal 2027 revenue outlook to $46.1B–$46.4B.

The company also expanded its relationship with Anthropic and announced “Claudeforce,” combining Salesforce products with Claude models.

Shares jumped roughly 14% after hours.

Why it matters: software stocks have been under pressure because investors worry AI agents could replace parts of traditional SaaS.

Salesforce is trying to prove the opposite thesis — that existing software platforms can monetize AI rather than simply be disrupted by it.

6. CROWDSTRIKE +10% — CYBERSECURITY DEMAND STAYS STRONG

CrowdStrike also beat expectations and raised guidance.

Revenue: $1.47B vs. $1.44B expected
Adjusted EPS: $0.31 vs. $0.29 expected
ARR: $5.84B, +25% YoY
FY revenue guidance: $5.991B–$6.01B

Shares rose more than 10% after hours.

Why it matters: as AI systems get more capable, both enterprises and attackers gain more powerful tools. Cybersecurity increasingly looks like one of the cleaner “picks and shovels” beneficiaries of AI adoption.

7. META SETTLES CHILD-SAFETY LAWSUITS FOR UP TO $18 BILLION

Meta agreed to pay up to $18 billion over the next decade to resolve lawsuits from nearly all U.S. states alleging Facebook and Instagram harmed children.

The agreement also introduces tighter limits around how teenagers use the platforms.

Despite the enormous headline number, Meta gained roughly 1.1% during Wednesday's regular session.

The market appears to be treating the agreement partly as the removal of a major legal uncertainty rather than simply as an $18 billion expense.

8. INTUIT SLIDES AS 2027 GROWTH OUTLOOK DISAPPOINTS

Intuit fell about 3.2% Wednesday after investors continued digesting a weaker-than-expected fiscal 2027 outlook.

The company expects annual revenue of roughly $23.28B–$23.51B, below Wall Street expectations near $23.72B.

Management is prioritizing customer acquisition and long-term market-share gains, but that comes with slower near-term growth and pressure in areas including Mailchimp.

Why it matters: investors are becoming much less forgiving when software companies offer slower growth while AI uncertainty is already pressuring valuation multiples.

9. HP DROPS AFTER HOURS DESPITE STRONG REVENUE

HP reported third-quarter revenue of $15.7B, up 12.5% year over year and well above expectations.

But PC unit shipments fell 16%, while rising memory and commodity costs pressured margins.

Shares dropped roughly 9% after hours.

This is another reminder that strong headline revenue doesn't always translate into better earnings quality when component costs are rising.

THE BIG PICTURE

Wednesday's regular-session close looked almost completely flat.

But underneath the surface, the setup changed meaningfully.

The bullish case:

Nvidia is still seeing extraordinary AI demand.
Salesforce and CrowdStrike delivered strong software/cybersecurity results.
Oil has moved lower as Hormuz diplomacy progresses.
AI infrastructure spending still appears intact.

The risk:

PCE inflation remains at 3.7%.
The Fed is still discussing whether rates may need to rise again.
The 10-year remains around 4.65%.
Oil remains highly sensitive to Middle East headlines.

So we effectively have strong corporate earnings fighting against restrictive macro conditions.

Whichever side wins that battle could determine the market's next major move.

3 THINGS TO WATCH TOMORROW

Nvidia's full-session reaction.
After-hours moves can change quickly. The important signal will be whether NVDA holds its gain once the full market opens — and whether AMD, AVGO, MU, CRWV, NBIS and other AI infrastructure names participate.
Jackson Hole and the bond market.
The Jackson Hole symposium begins Thursday, with traders looking ahead to Fed Chair Kevin Warsh's major remarks Friday. Any shift in expectations around future hikes could move the 10-year quickly.
Oil + Strait of Hormuz negotiations.
Qatar's prime minister is expected in Tehran as diplomatic efforts continue. Any credible step toward restoring shipping could pressure oil further; a breakdown in talks could send the geopolitical premium right back into crude.

YOUR TURN

What's more important for the market from here — Nvidia's AI demand or the 10-year yield?

Drop your view below.

BullsMeet Market Close — What actually mattered today, and what matters tomorrow.