NEW YORK, August 31, 2026, 16:50 EDT
- The Nasdaq Composite ended Monday down 0.12% at 26,370.89.
- It beat the Dow by 58 basis points, even as the 10-year Treasury yield stood at 4.75%.
- This week, payroll figures, manufacturing data, and key technology earnings will put that resilience to the test.
The Nasdaq Composite (INDEXNASDAQ:.IXIC) fell by 31.53 points on Monday, ending the session at 26,370.89, down 0.12%.
Nasdaq Composite
Dashboard updated: August 31, 2026, 16:50 EDT
Nasdaq fell least as oil and yields rose
| 10-year Treasury | 4.75% |
| Brent settlement | $90.49 |
| Brent day | +2.7% |
| Sept. Fed hike odds | 66% |
| Benchmark | Day | Week* | Month* | YTD |
|---|---|---|---|---|
| Nasdaq Composite | −0.12% | +0.83% | +6.12% | +13.5% |
| S&P 500 | −0.33% | +0.45% | +3.77% | +12.3% |
| Dow | −0.70% | +0.49% | +1.50% | +10.7% |
| Russell 2000 | −0.54% | −1.33% | +0.81% | +19.1% |
Nasdaq-100 forward P/E
| Company | Report | Consensus | Coverage | Target signal |
|---|---|---|---|---|
| Broadcom (NASDAQ:AVGO) | Wed., after close | Strong Buy | 49 analysts | $525.97 avg.; >40% upside |
| Dell (NYSE:DELL) | Tue., after close | Positive | 6 Buy / 14 Outperform / 8 Hold | $500 median; +9.6% |
| Palo Alto (NASDAQ:PANW) | Tue., after close | Strong Buy | 37 Buy / 5 Hold | $366.38 avg.; about −5% |
The minor loss concealed a more pronounced divide. The Nasdaq outperformed the Dow by roughly 58 basis points amid increases in oil prices and bond yields. The disparity indicates that earnings continue to offer better support to growth stocks compared with the wider market.
Brent crude closed up 2.7% at $90.49. The yield on the 10-year Treasury climbed to 4.75%, while the Dow lost 0.70%. The results followed renewed clashes close to the Strait of Hormuz Associated Press.
| Index | Close | Daily change | Year to date |
|---|---|---|---|
| Nasdaq Composite | 26,370.89 | -0.12% | +13.5% |
| S&P 500 | 7,686.14 | -0.33% | +12.3% |
| Dow Jones Industrial Average | 53,185.90 | -0.70% | +10.7% |
| Russell 2000 | 2,956.45 | -0.54% | +19.1% |
The previous week provided support. The Nasdaq advanced 0.83%, and the technology sector climbed 1.93%. Results from Nvidia NASDAQ:NVDA and Salesforce NYSE:CRM highlighted ongoing demand for AI hardware and enterprise software LPL Financial.
| Benchmark | One week | One month | Year so far |
|---|---|---|---|
| Nasdaq Composite | +0.83% | +6.12% | +13.58% |
| S&P 500 | +0.45% | +3.77% | +12.61% |
| Dow Jones Industrial Average | +0.49% | +1.50% | +11.39% |
| Russell 2000 | -1.33% | +0.81% | +19.97% |
Valuation provides an additional indicator. On August 10, the Nasdaq-100’s forward multiple sat beneath its 10-year average and was positioned in the 11th percentile of its previous 12-month range, Citadel Securities data shows. The majority of gains were fueled by higher earnings estimates rather than an expansion in the multiple.
That backing is set to encounter four swift macroeconomic trials. Manufacturing figures and job openings are due Tuesday. Private payrolls data is expected Wednesday, with services indicators and the employment report coming Friday New York Fed calendar.
| Date | Release | Time | Nasdaq transmission |
|---|---|---|---|
| September 1 | ISM manufacturing; JOLTS | 10:00 | Growth and wage pressures |
| September 2 | ADP employment | 08:15 | Payroll rate outlook |
| September 3 | Jobless claims; ISM services | 08:30; 10:00 | Labor and inflation trends |
| September 4 | Employment Situation | 08:30 | Fed rate and discount moves |
Earnings reports offer the second major test. Dell Technologies NYSE:DELL and Palo Alto Networks NASDAQ:PANW are scheduled to release results on Tuesday, while Broadcom NASDAQ:AVGO reports on Wednesday. Analysts expect Broadcom to post revenue of $29.4 billion and adjusted earnings of $3.24 per share Kiplinger.
| Company | Consensus | Rating mix / coverage | Target signal |
|---|---|---|---|
| Broadcom NASDAQ:AVGO | Strong Buy | 49 analysts | $525.97 average; more than 40% upside |
| Dell Technologies NYSE:DELL | Positive | 6 Buy, 14 Outperform, 8 Hold | $500 median; 9.6% upside |
| Palo Alto Networks NASDAQ:PANW | Strong Buy | 37 Buy, 5 Hold | $366.38 average; roughly 5% downside |
The recommendation gap offers insight. While analysts largely support all three companies, Palo Alto’s mean price target remains under its current level. That provides limited upside for a typical outcome TipRanks.
Christopher Rolland, analyst at Susquehanna, anticipates Broadcom to deliver “slightly better” results and outlook. He pointed to robust performance in AI networking and software. However, he cautioned that advanced-node supply may limit near-term processor gains Kiplinger.
Rates continue to present the main limitation. By late Monday, futures suggested a 66% probability of a federal funds rate hike in September. According to Edward Jones strategist Brock Weimer, the Federal Reserve is not likely to tolerate significant inflation overshoots Associated Press.
A muted payroll result may reduce the current pressure from discount rates. Conversely, robust wage or services figures could push yields higher. If that happens, future earnings projections would need to play a greater role in upholding the Nasdaq’s valuation.
Risks: Rising geopolitical tensions could drive up oil prices and yields. Additionally, disappointing technology outlooks may highlight the index’s significant reliance on growth sectors.
Relative performance will provide the initial indication. If the Nasdaq continues to outperform, it will signal that investors remain confident in earnings growth. However, a reversal would suggest that rates are once again becoming the dominant factor.
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