EB Daily Market Report - Brief Update - Thursday, August 27, 2026

There were a flurry of strong quarterly earnings reports from software ($DJUSSW, +3.21%), in addition to NVIDIA Corp's (NVDA, +7.46%) excellent quarterly report as well. NVDA raised revenue guidance significantly for next quarter after beating both revenue and EPS estimates in its latest quarter.

In the meantime, Salesforce.com (CRM, +20.68%), CrowdStrike Holdings (CRWD, +17.83%), and Okta (OKTA, +26.93%) not only beat both revenue and EPS estimates, but also raised revenue and EPS guidance for the next quarter AND fiscal year.

Needless to say, technology (XLK, +2.34%) is having a very strong day and leading the NASDAQ 100 ($NDX, +0.95%), in particular, higher on the session. The S&P 500 ($SPX, +0.59%) is bouncing nicely off its recent 20-day EMA, staving off the seasonal bears - at least for now. The Dow Jones ($INDU, +0.32%) and small cap Russell 2000 (IWM, +0.27%) are up more modestly.

Bonds and commodities are mostly flat today, while cryptocurrencies are higher on the day. Solana ($SOLUSD, +10.61%) is the big winner, while bitcoin ($BTCUSD, +2.44%) moves back above 80,000.

While the strength in technology feels good, the other 10 sectors are all lower today, so this is not what I'd consider a strong day at all. Utilities (XLU, -1.21%) are the worst-performing sector and approaching its double bottom from early June (42.83) and last week (42.77). Meanwhile, consumer staples (XLP, -0.53%) are lower, but that weakness was at the opening bell as the XLP gapped lower. It's since been gaining ground and may end up adding to some of the worries I've been discussing in recent days.

We'll keep taking it one day at a time and keep you posted on what we're seeing.

Happy trading!

Tom