Source: Financial Associated Press
August 28th news (editor 夏軍雄)On Wednesday, Eastern Time, the three major indexes collectively closed higher, and the S&P 500 index hit a new closing high.
As of the close, the Dow Jones index rose 0.32% to 45,565.23; the S & P 500 index rose 0.24% to 6,481.40; and the Nasdaq index rose 0.21% to 21,590.14.
The market focuses on Nvidia, an artificial intelligence (AI) chip company that released its financial report after hours. Wall Street has high hopes for Nvidia, pushing the S&P 500 index to its 19th all-time closing high this year.
According to FactSet data, Nvidia has beaten earnings estimates 11 times in the past 12 quarters, but four of those times the stock price fell after the earnings release.
"The only thing that matters in the stock market today is its earnings report," said Joseph Brusuelas, chief economist at RSM.
NVIDIA is seen as a benchmark for a wide range of markets and is also an important indicator of AI development, and its earnings report may influence the stock market rise this year.
According to FactSet data, NVIDIA weighs the most in the S&P 500, accounting for about 8%, and its share price did not change much on the day, falling slightly at the closing of 0.09%.
Nvidia announced strong second-quarter results and announced $60 billion in share repurchase plans, but the share price fell more than 5% in the back-end transactions due to the revenue of key business segments slightly lower than expected.
Nvidia reported better-than-expected revenue and profit in the second quarter, and the company's guidance for the third quarter also looked solid. However, second-quarter revenue in the key data center segment was slightly lower than expected.
If the latest earnings report is included, Nvidia has exceeded earnings expectations 12 times in the past 13 quarters, but its share price fell after the earnings report was released in 5 times.
Hot Stock Performance
Most large technology stocks rose, Nvidia fell 0.09%, Microsoft rose 0.94%, Apple rose 0.51%, Google rose 0.16%, Amazon rose 0.18%, Meta fell 0.89%, and Tesla fell 0.59%.
Popular Chinese stocks fell, Nasdaq China Golden Dragon Index fell 2.58%, Alibaba fell 1.58%, JD.com fell 3.11%, Pinduoduo fell 1.36%, NIO fell 5.37%, XPeng Motors fell 6.70%, Li Auto fell 8.32%, Bilibili fell 1.28%, Baidu fell 2.83%, NetEase fell 1.44%, Tencent Music fell 1.56%, Pony Zhixing fell 1.96%.
Company news
[NVIDIA's fiscal year 2026 Q2 revenue of US$46.7 billion, the company approves an additional US$60 billion in share buybacks]
NVIDIA fiscal year 2026 Q2 revenue of $46.70 billion, the same period last year is $30.04 billion, the market is expected to be $46.058 billion; Q2 data center revenue of $41.10 billion, the same period last year is $26.272 billion, the market is expected to be $40.911 billion; Q2 net profit of $26.422 billion, the same period last year is $16.599 billion, the market is expected to be $23.465 billion. The company approved an additional $60 billion share repurchase.
Nvidia expects fiscal third-quarter revenue to fluctuate by 2% above and below US$54 billion, and market expectations are US$53.46 billion.
[CrowdStrike's second-quarter revenue of US $1.17 billion was higher than expected]
CrowdStrike's second-quarter revenue was $1.17 billion, and analysts expected $1.15 billion. Full-year revenue is expected to be US$4.75 billion to US$4.81 billion, compared with the company's original forecast of US$4.74 billion to US$4.81 billion; third-quarter revenue is expected to be US$1.21 billion to US$1.22 billion, and analysts expect US$1.23 billion.
[Snowflake expects product revenue in the third quarter to be approximately US $1.13 billion]
Snowflake expects a product revenue of about $11.3 billion in the third quarter, with analysts expecting $11.2 billion.
[GC: The Chip Act subsidies are progressing well without the need to transfer equity rights]
On Wednesday (August 27) local time, U.S. chip manufacturing company Gexin said that it was making good progress in obtaining subsidies under the Chip Act and that no form of equity was involved in the framework.
John Hollister, the chief financial officer of GNC, said on Wednesday at the Bank of Germany’s technology conference that the company is getting government funding under the Chip Act based on the completion of the project’s phased goals.
[Intel targets the Loma American government or takes shares in military enterprises]
According to CCTV International News, after announcing its stake in Intel, an American chip company, the U.S. federal government has set its eye on Lockheed Martin, an American military giant. According to US media reports on August 26th, US Secretary of Commerce Lutnick disclosed that the Trump administration is interested in acquiring equity in military enterprises and is considering whether to invest in top US defense contractors.
Apple Partners with TuneIn to Expand Broadcasting Services Platform
According to reports, TuneIn, a digital broadcasting platform, said that it has reached a cooperation with Apple and will open Apple's radio service on its global device network for the first time. The service will cover various types of terminals such as smart speakers, headphones and car in-vehicle systems.