The Dow Jones Industrial Average (^DJI) was down 9.45 (-0.0176%) points today, closing at 53,559.99, as the market grappled with the latest Personal Consumption Expenditures (PCE) price index report. This key inflation metric, released on Friday, August 28th, 2026, showed prices rising at a steady 2.4% annual pace, meeting economist expectations but offering little immediate incentive for the Federal Reserve to accelerate interest rate cuts. The narrative of "higher for longer" remains a persistent headwind for blue-chip equities, resulting in a cautious trading session with Dow Futures (YM=F) also slipping 33.00 (-0.0615%) points.
Leading the gainers was 3M (MMM), which surged 3.70% to $148.62 following a positive settlement update regarding its legacy legal liabilities. Technology giant Nvidia (NVDA) rose 1.77% to $225.01, buoyed by continued demand for AI infrastructure, while Johnson & Johnson (JNJ) climbed 1.61% to $227.63. Other notable performers included Cisco (CSCO) and UnitedHealth Group (UNH), which gained 1.33% and 1.00% respectively, as defensive sectors saw renewed interest amid broader market uncertainty.
Conversely, IBM (IBM) was the day’s biggest laggard, tumbling 2.42% to $213.40 after a cautious outlook on enterprise software spending. Consumer-facing stocks also faced pressure, with Home Depot (HD) dropping 2.14% to $303.85 and Salesforce (CRM) falling 1.64% to $168.45. Financial heavyweights were not immune to the volatility; JPMorgan Chase (JPM) fell 1.12% to $301.51, and American Express (AXP) shed 1.27% to close at $310.29, reflecting concerns that high borrowing costs may finally be dampening consumer credit health.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.