The Dow Jones Industrial Average (^DJI) was up 109.37 (0.20%) points today, reaching 53,678.81 as investors reacted to the latest Personal Consumption Expenditures (PCE) price index. The narrative driving the market this Friday, August 28, 2026, is a sense of relief as the Federal Reserve's preferred inflation gauge climbed 0.2% for the month, perfectly aligning with economist forecasts. This data reinforces the "soft landing" thesis, suggesting that while the economy is cooling, it remains resilient enough to avoid a deep recession while allowing for potential interest rate adjustments in the coming months.
Leading the blue-chip index, 3M Company (MMM) was up 3.70% to $148.62, emerging as the top performer following positive sentiment regarding its ongoing restructuring efforts. Tech giant Nvidia (NVDA) also saw significant gains, up 1.77% to $225.01, as demand for AI infrastructure continues to provide a tailwind for the sector. Other notable gainers included Johnson & Johnson (JNJ), which was up 1.61% to $227.63, and Cisco Systems (CSCO), which was up 1.33% to $100.48.
Conversely, several components faced downward pressure despite the broader index gains. IBM (IBM) was down 2.42% to $213.40, leading the laggards as investors rotated out of older enterprise tech names. Consumer-facing stocks also struggled, with Home Depot (HD) down 2.14% to $303.85 and Salesforce (CRM) down 1.64% to $168.45. Financial heavyweight JPMorgan Chase (JPM) was down 1.12% to $301.51, reflecting a cautious outlook on net interest margins in a stabilizing rate environment. Meanwhile, Dow Futures (YM=F) was up 40.00 (0.07%) points, indicating steady sentiment as the trading session progresses.
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.