US open: Stocks little changed following July PCE reading
By Iain Gilbert
Date: Wednesday 26 Aug 2026
(Sharecast News) - Wall Street trading got off to a mixed start on Wednesday as traders digested key US inflation data and looked ahead to Nvidia's latest quarterly numbers.
As of 1515 BST, the Dow Jones Industrial Average and the Nasdaq Composite were both down 0.01% at 53,569.82 and 26,148.57, respectively while the S&P 500 was up 0.10% at 7,684.74.
The Dow opened 7.58 points lower on Wednesday, doing little to impact gains recorded in the previous session as concerns about inflationary pressures eased following subdued economic data and a sharp drop in oil prices.
Wednesday's primary focus will likely be news that US inflation ticked slightly higher in July, according to the Federal Reserve's preferred gauge, with both headline and core readings showing modest monthly increases. The Bureau of Economic Analysis' personal consumption expenditures price index rose 0.2% on the month and 3.7% year‑on‑year in July, both a touch above consensus, while core PCE, which strips out volatile food and energy costs, also increased 0.2% on the month and 3.3% annually, matching forecasts.
July's report also showed personal income up 0.4% and spending rising 0.2%, both stronger than expected. Goods prices fell 0.1%, driven by a 2.7% drop in gasoline and other energy goods and a 0.9% decline in household furnishings and durable equipment. Services prices, on the other hand, climbed 0.3%, led by a 1.2% rise in financial services and insurance and a 0.3% increase in housing.
Last month's PCE reading comes as the bond market returned to focus after long‑dated US yields hit multiyear highs last week, with the 30‑year touching levels last seen nearly two decades ago. Investors were also looking ahead to Federal Reserve chairman Kevin Warsh's upcoming appearance at Jackson Hole on Friday, though economists expect him to keep guidance limited ahead of September's policy decision.
Elsewhere on the macro front, US mortgage applications slipped 1% on the week ended 21 August, according to the Mortgage Bankers Association, extending the prior week's 0.4% decline. The shift reflected only a modest uptick in the average 30‑year mortgage benchmark, which remains close to its highest level in a year. Yields on the 30‑year Treasury have surged to multi‑decade highs amid mounting corporate debt, widening federal deficits and worries that the Federal Reserve has become too complacent on inflation. Applications to refinance a mortgage, which are more sensitive to week-to-week interest rate changes, fell 2% week-on-week, while applications to purchase a home dipped 0.3%.
On another note, US durable goods orders rose more than expected in July, according to the Census Bureau, with new orders up 1.1% month‑on‑month at $339.3bn, following a revised 0.5% gain in June and beating forecasts for a 0.5% rise. The increase was driven by a 2.3% jump in transportation equipment, led by strong non‑defence aircraft orders, up 12.7%, and a 4.9% rise in defence aircraft and parts. Weakness persisted in tech‑related categories, with computers and electronic products down 1.1%, and electrical equipment, appliances and components slipping 0.4%. Excluding transportation, orders rose 0.4%, missing expectations for a stronger print. Non‑defence capital goods excluding aircraft edged up 0.2%, following a revised 1.7% increase in June and coming in below the 0.9% rise economists had pencilled in.
In the corporate space, US department store chain Kohl's posted a drop in second-quarter sales as it conceded there was "critical work" to be done going forward, but lifted its full-year profit guidance as it included the benefit of tariff refunds, while apparel retailer Abercrombie & Fitch posted Q2 results that came in ahead of Wall Street expectations and raised its full-year outlook.
Nvidia will post its latest quarterly figures after the close.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Unitedhealth Group Inc. (UNH) $404.62 1.75%
Microsoft Corp. (MSFT) $494.61 1.62%
Caterpillar Inc. (CAT) $821.28 0.88%
Travelers Company Inc. (TRV) $371.66 0.58%
3M Co. (MMM) $179.98 0.33%
Apple Inc. (AAPL) $312.46 0.32%
Cisco Systems Inc. (CSCO) $112.42 0.23%
American Express Co. (AXP) $335.91 0.19%
Boeing Co. (BA) $211.74 0.16%
Chevron Corp. (CVX) $199.85 0.04%
Dow Jones - Fallers
Intel Corp. (INTC) $87.35 -2.98%
Merck & Co. Inc. (MRK) $154.21 -1.69%
Amgen Inc. (AMGN) $439.60 -1.23%
Coca-Cola Co. (KO) $90.67 -1.13%
Goldman Sachs Group Inc. (GS) $1,049.51 -1.12%
Nike Inc. (NKE) $39.04 -1.06%
Johnson & Johnson (JNJ) $270.57 -0.81%
Dow Chemical Co. (DOW) $29.91 -0.40%
Home Depot Inc. (HD) $336.20 -0.37%
Visa Inc. (V) $383.15 -0.37%
S&P 500 - Risers
Mattel Inc. (MAT) $15.53 5.47%
Williams Companies Inc. (WMB) $74.91 5.35%
J. M. Smucker Co. (SJM) $130.79 5.17%
Charter Communications Inc. (CHTR) $154.41 4.92%
Western Digital Corp. (WDC) $467.28 4.57%
Oracle Corp. (ORCL) $149.54 4.48%
Gap Inc. (GAP) $20.94 4.24%
Cadence Design Systems Inc. (CDNS) $337.99 4.02%
Synopsys Inc. (SNPS) $415.94 3.92%
FMC Corp. (FMC) $11.54 3.89%
S&P 500 - Fallers
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Kohls Corp. (KSS) $16.66 -7.07%
Intuit Inc. (INTU) $343.94 -5.95%
Boston Scientific Corp. (BSX) $47.72 -4.36%
Eli Lilly and Company (LLY) $1,203.99 -3.88%
Charles Schwab Corp. (SCHW) $108.17 -3.80%
Equity Residential (EQR) $63.66 -3.50%
Intel Corp. (INTC) $87.35 -2.98%
Nektar Therapeutics (NKTR) $74.18 -2.70%
Verisk Analytics Inc. (VRSK) $187.05 -2.63%
Nasdaq 100 - Risers
Charter Communications Inc. (CHTR) $154.41 5.30%
Western Digital Corp. (WDC) $467.19 4.92%
Cadence Design Systems Inc. (CDNS) $338.27 4.02%
Synopsys Inc. (SNPS) $415.80 3.65%
DENTSPLY Sirona Inc. (XRAY) $10.99 3.51%
Seagate Technology Plc (STX) $839.67 2.73%
Illumina Inc. (ILMN) $226.24 2.59%
Hasbro Inc (HAS) $97.67 2.51%
Gen Digital Inc. (GEN) $29.45 1.69%
Microsoft Corp. (MSFT) $495.14 1.62%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Intuit Inc. (INTU) $344.73 -5.95%
Verisk Analytics Inc. (VRSK) $187.06 -3.20%
Intel Corp. (INTC) $87.21 -2.98%
Workday, Inc. (WDAY) $191.46 -2.27%
NetEase Inc. Ads (NTES) $124.46 -2.13%
Microchip Technology Inc. (MCHP) $73.77 -2.05%
Broadcom Inc. (AVGO) $354.37 -1.96%
Applied Materials Inc. (AMAT) $476.89 -1.78%
Wynn Resorts Ltd. (WYNN) $97.91 -1.63%
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