---
title: "S&P 500, Nasdaq Composite Rise as Nvidia, Tech Stocks Rally"
url: https://www.herechapin.com/2026/08/28/sp500-nasdaq-nvidia-tech-rally/
date: 2026-08-28T13:44:21+00:00
modified: 2026-08-28T13:44:21+00:00
author: "Alfred Zepeda"
categories: ["Business"]
site: "HERE Chapin"
attribution: "HERE Chapin"
---

# S&P 500, Nasdaq Composite Rise as Nvidia, Tech Stocks Rally

*Source: [HERE Chapin](https://www.herechapin.com/2026/08/28/sp500-nasdaq-nvidia-tech-rally/) — August 28, 2026 by Alfred Zepeda*

Aiken investors tracking national market trends saw the Nasdaq Composite and S&P 500 close higher on Thursday, August 27, 2026, driven by strong earnings reports from major technology companies, particularly Nvidia. The tech-heavy Nasdaq Composite advanced 1.57% to 26,541.35, while the S&P 500 rose 0.72% to 7,730.99. The Dow Jones Industrial Average also climbed 105.56 points, or 0.2%, closing at 53,569.44.

Nvidia shares surged 8.7% after the chipmaker exceeded analyst expectations and projected robust revenue growth. The company anticipates revenue growth of 70% in fiscal 2028, significantly higher than the 44% forecast by analysts. Its revenue for the fiscal second quarter more than doubled. This performance also boosted other semiconductor-related stocks, with Broadcom adding 4.5%, SK Hynix up 2%, and Intel gaining 4%. The VanEck Semiconductor ETF (SMH) saw a 3% increase.

Beyond the semiconductor sector, Salesforce rallied over 22% after its second-quarter revenue surpassed forecasts. Software companies like Adobe and Autodesk also saw gains, climbing 5.7% and 6.2% respectively. In cybersecurity, Okta soared more than 28% and CrowdStrike gained 20.5% after exceeding analyst expectations and raising their outlooks, citing booming demand for agentic AI. Palo Alto Networks also popped nearly 13%.

Melissa Brown, global head of investment decision research at SimCorp, noted a divergence between AI-related stocks and other market areas, leading to low correlation across stocks and impacting risk. She stated that while volatility is high, low correlation keeps overall volatility down, potentially creating a false sense of security for investors.

Meanwhile, traders are preparing for the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, where Fed Chairman Kevin Warsh is scheduled to deliver a keynote speech on Friday. Cleveland Federal Reserve President Beth Hammack reiterated her call for higher interest rates on Thursday, citing recent inflation data showing the central bank is still far from its target. Kansas City Federal Reserve President Jeffrey Schmid also commented on inflation, describing it as stubborn and sticky, though he did not explicitly call for a rate hike.

In other economic news, initial jobless claims for the week ended August 22 decreased by 4,000 to a seasonally adjusted 203,000, falling below the Dow Jones consensus of 208,000. Continuing claims also dropped by 18,000 to 1.78 million.

Aiken County residents working in advanced manufacturing at companies like Bridgestone and Kimberly-Clark, or those employed by Savannah River Nuclear Solutions, may observe these national market shifts as part of the broader economic landscape impacting their investments and retirement accounts. The overall market performance, particularly in the tech sector, reflects a dynamic economic environment that can influence various aspects of the local economy.