Retailers Today: Best Buy, Dollar Tree, and DG Gauge the Consumer 27/08/2026
Market Wrap
U.S. stocks finished little changed on Wednesday as investors digested a hotter-than-expected inflation reading alongside a strong batch of corporate earnings.
The S&P 500 was virtually flat at 7,675.70, while the Nasdaq Composite slipped 0.1% to 26,130.20. The Dow Jones Industrial Average underperformed, losing 114 points, or 0.2%, to close at 53,463.88.
July's personal consumption expenditures price index showed inflation remains sticky. Headline PCE came in slightly above expectations, while the core measure, which strips out food and energy, matched forecasts. The report reinforced concerns that persistent price pressures could limit the Federal Reserve's flexibility on interest rates.
Corporate results provided a counterweight. Nvidia (NVDA) climbed more than 4% after topping Wall Street estimates and delivering an upbeat revenue outlook, offering fresh support to the AI trade. Salesforce (CRM) surged 13% following better-than-expected revenue, while Okta (OKTA) jumped more than 20% as strong demand tied to agentic AI helped results beat forecasts. Meta (META) gained about 1% after reaching a settlement with state attorneys general over litigation involving the impact of its social-media platforms on younger users.
Attention now shifts to the Federal Reserve's annual Jackson Hole symposium, which begins Thursday. Investors will be looking for clues on how policymakers are balancing stubborn inflation against growth risks and recent volatility in the Treasury market.
The earnings calendar also remains active Thursday. Best Buy (BBY) reports before the opening bell, while Workday (WDAY), Affirm (AFRM) and Gap (GAP) are scheduled to release results after the close.
Nvidia Sees AI Boom Accelerating Into 2028
Nvidia (NVDA) delivered another strong quarter, beating Wall Street expectations and issuing a far more aggressive long-term growth outlook that reinforced confidence in the durability of the AI investment cycle.
Fiscal second-quarter revenue reached $96.22 billion, above the $92.17 billion consensus, while adjusted earnings came in at $2.22 per share versus $2.10 expected. Revenue more than doubled from a year earlier, and net income climbed to nearly $54 billion.
The biggest surprise came from the outlook. Nvidia said it expects fiscal 2028 revenue growth of roughly 70%, well above analysts' expectations for about 44%. Management said customer forecasts point to demand potentially doubling next year, although supply constraints are limiting how quickly Nvidia can convert that demand into sales.
The company remains at the center of the AI infrastructure buildout, supplying the chips used to train and run advanced models while increasingly helping customers finance new data centers through backstops and other funding arrangements.
Risks are also becoming more visible. Nvidia disclosed $33.5 billion in senior notes and a $25 billion commercial-paper program, while rising memory costs and competition from Advanced Micro Devices (AMD), Alphabet (GOOGL) and other chip developers remain key challenges.
Still, the results suggest AI demand is showing little sign of slowing. Nvidia shares rose about 4% as investors focused on the company's unusually strong growth expectations for the next fiscal year.
Stocks on the Move
- Okta (OKTA): Shares surged 19% after second-quarter earnings and revenue beat expectations. The identity-security company also raised its full-year outlook.
- Agilent Technologies (A): Shares gained 4% after third-quarter revenue of $1.88 billion came in ahead of Wall Street forecasts.
- CrowdStrike (CRWD): Shares jumped 10% after the cybersecurity company topped consensus estimates for both earnings and revenue. Third-quarter revenue guidance also came in above expectations.
- Urban Outfitters (URBN): Shares fell 3% despite second-quarter earnings and revenue coming in roughly in line with expectations. Adjusted earnings excluded one-time benefits from tariff refunds.
- Synopsys (SNPS): Shares slipped 2% even after the company raised its full-year revenue and profit forecasts. Synopsys now expects annual revenue of $9.69 billion to $9.74 billion and adjusted earnings of $15.04 to $15.10 per share.
Watchlist: NVDA, AMD, CRM, OKTA, CRWD, A, SNPS, URBN, DG, DLTR, META, COIN, XOM
Key Economic Events Today
Economic Data (EST)
- 08:30 AM — USD Unemployment Claims
- 08:30 AM — USD Goods Trade Balance
- 08:30 AM — USD Prelim Wholesale Inventories
- Jackson Hole Symposium Day 1
Earnings
Before Market Open: Royal Bank of Canada (RY), Dollar General (DG), Dollar Tree (DLTR), Best Buy (BBY), Burlington Stores (BURL)
After Market Close: Marvell Technologies (MRVL), Autodesk (ADSK), Workday (WDAY), Affirm Holdings (AFRM), Ulta Beauty (ULTA), Rubrik (RBRK), IREN Limited (IREN)
