Investment Review №353. In Search of New Landmarks

S&P 500 from August 26 to September 4, 2026

Key Events on the US Stock Market

S&P 500

26.08.2026 — 7 675

  • NVIDIA (NVDA) Q2 results beat estimates, but initial full-year guidance highlighted supply constraints despite robust demand. A lower gross margin and higher liabilities intensified scrutiny of earnings quality

 

28.08.2026 — 7 711

  • At Jackson Hole, Fed Chair Kevin Warsh flagged persistent inflation risks. Markets read the remarks as hawkish, pushing Treasury yields higher

 

01.09.2026 — 7 631

  • Palo Alto Networks (PANW) beat expectations on accelerating demand for its unified cybersecurity platform. Next‑gen security ARR rose 63% YoY to $9.1bn, and robust guidance underscored resilient enterprise demand
  • The ISM Manufacturing PMI fell to 54.6 in August (from 55.6 last month), below expectations, but remained above 50—marking an eighth straight month of manufacturing activity expansion

 

03.09.2026 — 7 747

  • Lululemon (LULU) Q2 revenue declined 4.3% YoY to $2.42bn, pressured by North American weakness. The company again cut full-year guidance and now expects sales to drop 5–7%

 

04.09.2026 — 7 718

    • U.S. Nonfarm Payrolls increased by 162k in August (vs. 55k expected). The unemployment rate was 4.1%, underscoring continued labor-market strength

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