Stock Market Today, Aug. 27: Tech Strength Powers Nasdaq Higher as Nvidia Leads Rally

• Nvidia's data center unit grew sales by 117% and the company beat its own guidance for the 13th consecutive quarter, easing AI slowdown concerns while trading at just 25x forward earnings
• Salesforce announced a partnership with Anthropic to launch 'Claudeforce', integrating AI reasoning capabilities with enterprise workflows, and guided to 11%-12% sales growth for the year
• The S&P 500 rose 0.7% to 7,731 and the Dow gained 0.2% to 53,569, while Hormel Foods was the biggest loser, falling 10% after missing earnings expectations

Market Summary: August 27, 2026

Market Performance

U.S. markets rallied on Wednesday, led by technology stocks. The Nasdaq Composite surged 1.6% to 26,541, while the S&P 500 gained 0.7% to 7,731. The Dow Jones Industrial Average advanced modestly by 0.2% to 53,569. Bitcoin also climbed 1.6% to $80,017.

Key Movers

Nvidia (NVDA) dominated the session, soaring 8.7% to $227.98 after reporting blowout earnings. The chipmaker posted 106% sales growth and 128% EPS growth, with its data center unit expanding 117%. Notably, Nvidia exceeded its own guidance for the 13th consecutive quarter, alleviating concerns about an AI slowdown. The stock trades at just 25x forward earnings despite exceptional growth.

Other tech winners included:

• Salesforce (CRM): +23% after strong earnings and announcing a partnership with Anthropic to launch "Claudeforce," integrating Claude AI with Salesforce's platform
• CrowdStrike (CRWD): +21% on excellent earnings
• Veeva Systems: +15%
• Microsoft (MSFT): +1.8%
• Tesla (TSLA): +2.6%

Underperformers included Amazon (-1.5%), Meta (-0.9%), and Google (-0.4%).

Hormel Foods led decliners, dropping 10% after missing earnings expectations.

Market Implications

The strong earnings from Nvidia and enterprise software companies suggest AI momentum remains robust. Salesforce's guidance for 11%-12% sales growth and its AI partnership may signal that software companies are successfully positioning themselves as AI beneficiaries rather than disruption targets, potentially easing "SaaS-pocalypse" concerns among investors.