Market Overview
Wednesday, September 2, 2026 · Analysis updated daily
Market closed·Last updated 01:01 AM ET
Daily Index Summary
S&P 500
7,631.47
▼ -54.67 (-0.71%)
Dow Jones
52,766.88
▼ -419.02 (-0.79%)
Nasdaq
26,099.773
▼ -271.12 (-1.03%)
Russell 2000
2,920.132
▼ -36.32 (-1.23%)
Sector Rotation
Tech
XLK
-1.53%
Financials
XLF
-0.88%
Health
XLV
+0.66%
Energy
XLE
+1.27%
Discretionary
XLY
-1.72%
Staples
XLP
+0.32%
Industrials
XLI
-1.37%
Materials
XLB
-1.18%
Utilities
XLU
+0.78%
Real Estate
XLRE
-0.16%
Comm. Svcs
XLC
-0.52%
Commodities & Dollar
Crude Oil
/bbl
90.57
▲ +0.35 (+0.39%)
Gold
/oz
4,352.60
▼ -43.80 (-1.00%)
US Dollar
DXY
99.79
▲ +0.11 (+0.11%)
Bitcoin
USD
77,506
▼ -1198.30 (-1.52%)
Next Day Earnings
Mega-caps reporting in the next 48 hours — EPS consensus shown for context
1 scheduled
Wednesday, Sep 2· 1 companies
AVGO
Broadcom Inc.
Mkt Cap
$1.76T
EPS Est.
$3.24
Rev Est.
$29.43B
Featured Stocks
| Symbol | Name | Price | Change | 52W High | Volume |
|---|---|---|---|---|---|
| AAPL | Apple Inc. | $325.13 | +2.61% | $344.57 | 52.4M |
| MSFT | Microsoft Corporation | $501.02 | -1.24% | $553.72 | 19.1M |
| NVDA | NVIDIA Corporation | $217.44 | -1.39% | $236.54 | 106.9M |
| GOOGL | Alphabet Inc. | $335.02 | -1.28% | $408.61 | 21.0M |
| AMZN | Amazon.com, Inc. | $254.92 | -1.87% | $287.20 | 31.4M |
| META | Meta Platforms, Inc. | $578.54 | +1.08% | $790.80 | 15.4M |
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Featured ETF Analysis
As of 2026-08-28 · For educational purposes onlySPY
SPDR S&P 500 ETF Trust
Price
$769.35
From High
-1.29% from 52W high
52W Range
$629.28 — $779.37
Bullish
++0.47% since Aug 21 ($765.72 to $769.35) — held the range through NVDA's print
+Above 50-DMA $753.39 (+2.1%) and 200-DMA $709.41 (+8.5%) — uptrend structure unbroken
+Only -1.29% from the $779.37 ATH while SMH sits -17.7% off its own high
Bearish
−Volume 36.3M vs 50.7M avg (0.72x) — participation keeps shrinking on the grind higher
−Failed at $779.37 again; that ATH has capped price for nine sessions
−P/E 25.9 vs 25.8 last week — multiple expanding while price goes nowhere
Resistance
$779.37
Support
$753.39
Target
$834.68
Index is grinding sideways below its ATH on thin volume while leadership rotates out of semis — no breakdown, no breakout, no reason to act.
QQQ
Invesco QQQ Trust (Nasdaq-100)
Price
$716.43
From High
-4.30% from 52W high
52W Range
$555.60 — $748.65
Bullish
+NVDA (~14% weight) beat Aug 26 with $96.2B revenue (+106% YoY) and guided above consensus
+Holding above the 50-DMA $712.19 for a third week; 200-DMA $654.71 sits 9.4% below
++0.42% since Aug 21 while SMH fell 1.3% over the same stretch — breadth widening
Bearish
−-0.65% on the session after NVDA's beat — textbook sell-the-news rejection
−Still -4.30% from the $748.65 June ATH, unreclaimed for 12 weeks
−P/E 30.6 vs SPY 25.9 = 18% premium with the quarter's big catalyst now behind it
Resistance
$748.65
Support
$712.19
Target
$820.00
The biggest catalyst of the quarter landed as a clean beat and QQQ still could not clear $748 — the index is fine, but the easy upside driver is spent.
SMH
VanEck Semiconductor ETF
Price
$553.11
From High
-17.67% from 52W high
52W Range
$281.74 — $671.83
Bullish
+NVDA posted $96.2B revenue (+106% YoY) Aug 26 with AWS committing to 2M GPUs — demand is not the problem
+Decline came on 6.3M shares vs 11.1M average (0.57x) — no conviction behind the selling
+Still +17.4% above the 200-DMA $471.25; the multi-year uptrend is intact
Bearish
−-3.47% today to a new post-correction low, now -17.67% from the $671.83 ATH
−5.3% below the 50-DMA $584.08; the run to $573 into earnings failed to reclaim it
−P/E 39.2 is a 51% premium to SPY with gross margin guided down to 74% from 75%
Resistance
$584.08
Support
$545.00
Target
$640.00
NVDA beat on every line and the group sold anyway — that is a sentiment problem rather than a fundamentals problem, and it takes time to repair rather than another catalyst.
GDX
VanEck Gold Miners ETF
Price
$99.65
From High
-14.96% from 52W high
52W Range
$61.21 — $117.18
Bullish
+P/E 17.3 vs SPY 25.9 — cheapest of the four, and still 22% below peak with gold near records
+Above the 50-DMA $82.11 (+21.4%) and 200-DMA $89.21 (+11.7%) — primary uptrend intact
++20.5% YTD; the miners-catch-up-to-bullion trade has not fully played out
Bearish
−-3.90% on 40.9M shares vs 23.4M average (1.75x) — heavy-volume distribution day
−Lost the $100 handle; last week's caution flag (RSI 73, 29% above 50-DMA) is now resolving
−Gold slipped below $4,600 with Warsh policy risk hanging over the trade
Resistance
$103.69
Support
$95.00
Target
$113.00
The stretched tape flagged last week is unwinding on 1.75x volume — the uptrend and the valuation case both survive, but let the pullback finish before adding.
For educational and research purposes only. Not financial advice. Always do your own due diligence.