Markets News, Aug. 27, 2026: Nvidia Stock Powers Higher After Earnings, Driving Tech Gains; Nasdaq Closes Sharply Higher

Tech shares surged on Thursday following a robust earnings report from Nvidia. The tech-heavy Nasdaq, S&P 500, and Dow all closed with gains of 1.6%, 0.7%, and 0.2% respectively. The Information Technology sector within the S&P 500 surged over 3%, propelling the index to a record high despite it being the sole sector to finish the day in the green.

Nvidia (NVDA) reported earnings that surpassed expectations, with a Q3 revenue guidance that exceeded analyst consensus. The company's CEO, Jensen Huang, stated that the AI infrastructure buildout is accelerating. Nvidia shares jumped nearly 9% after the bell. Other post-earnings movers included Okta (OKTA), Salesforce (CRM), CrowdStrike Holdings (CRWD), and Dollar General (DG), which all saw double-digit gains.

Conversely, Hormel (HRL) fell 10%, Burlington Stores (BURL) declined 7.5%, Best Buy (BBY) dropped 4.5%, and HP (HPQ) slipped 3%. Marvell Technology (MRVL) shares were down 1.5% before reporting its results. Crude oil prices surged as investors assessed the latest efforts to reopen the Strait of Hormuz to shipping; West Texas Intermediate futures were up 2.1% at $83.90 a barrel, while Brent crude futures were up 2.6% at $90.15.

The 10-year Treasury yield was almost 4.68%, up almost three basis points from the previous close. Bitcoin surpassed the $80,000 mark for the second consecutive day, trading at $80,100. The U.S. dollar index remained flat at 99.16, while gold futures rose 0.2% to $4,660 an ounce. The focus will shift to Federal Reserve Chair Kevin Warsh's speech at the Kansas City Fed's annual Jackson Hole economic policy symposium, where he may clarify his stance on interest rates.

A recent analysis from The Tax Foundation revealed that U.S. businesses have received a record-breaking $400 billion in tariff refunds since the Supreme Court struck down the majority of the tariffs imposed by President Trump in February 2025.