The Dow Jones Industrial Average is showing resilience today as market participants react to the latest Personal Consumption Expenditures (PCE) data, which serves as the Federal Reserve's preferred inflation gauge. Dow Futures (YM=F) was up 11.00 (0.0205%) points today, signaling a steady session on Friday, August 28th, 2026. The primary narrative is a "soft landing" scenario, where cooling inflation figures are balanced by steady consumer spending, though high-growth tech sectors remain volatile.
Leading the gainers is 3M (MMM), which was up 3.70% after reporting better-than-expected progress on its operational restructuring. The semiconductor space remains a focal point as Nvidia (NVDA) was up 1.77%, bolstered by new AI infrastructure contracts. Defensive plays are also in favor; Johnson & Johnson (JNJ) was up 1.61%, while Cisco Systems (CSCO) was up 1.33% and UnitedHealth Group (UNH) was up 1.00%. Boeing (BA) saw a modest lift, as it was up 0.61% following a new order announcement.
Downward pressure is coming from the enterprise tech and consumer discretionary sectors. IBM (IBM) was down 2.42% today, leading the laggards as investors rotate out of legacy tech. Home Depot (HD) was down 2.14%, reflecting ongoing sensitivity to the housing market's performance. Software and financial giants also faced headwinds, with Salesforce (CRM) down 1.64%, American Express (AXP) down 1.27%, and JPMorgan Chase (JPM) down 1.12%. Additionally, Caterpillar (CAT) was down 1.22%, suggesting a cautious outlook for global industrial demand.
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.