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Daily Wrap-Up: Pre-Earnings Tug-of-War | Aug 26, 2026

By August 26th, 2026Daily Market Wrap-Up3 min read

Bulls and bears battled to a standstill in Wednesday’s S&P 500 index futures, oscillating between red and green all day before settling as a marginally lower scratch session.

Overnight, bears held the initial upper hand, pressuring the index futures down to a low of 7670.75 before buy-the-dippers rebounded the market back toward unchanged and kept it there. The morning’s macro data mostly came in above expectations, with July’s headline PCE index at 0.2% MoM versus 0.1% expected, personal income at 0.4% MoM versus 0.2% expected and durable goods at 1.1% versus 0.5% expected, among other stats. The hot reports had bears selling a small pop, dragging the index futures back into the red, though not by much.

Once the opening bell rang, bulls came flooding back in, testing and slightly exceeding the premarket high, only to stall at resistance around the psychological 7700 level. The action then turned to back-and-forth chop, oscillating around Tuesday’s close for much of the session. Bears probed the low during the lunch hour, but bulls held support and rebounded through the afternoon. By the final hour, bulls were back to making new highs for the day, if only slightly. Volatility picked up in the closing minutes ahead of eagerly anticipated earnings reports, primarily from NVIDIA, with sellers wiping out the late gains by the time the dust settled. The session concluded near the day’s midpoint at 7690, losing just 2 handles. After hours, bulls rallied to a new high of 7710.25 just before the futures session ended.

Thursday, market participants can look forward to July’s advance US trade balance, inventories and other macro data at 8:30 AM ET, along with a handful of earnings reports in the morning and evening.

Among the top components of the index, Apple Inc (NASDAQ: AAPL) emerged as the biggest gainer. The tech giant advanced by $3.55 or 1.15% to close at $313.45 for the day.

That performance was over 57 times better than the cash index’s advance of 0.02%.

Flipping its role from Tuesday, the biggest loser ended up being NVIDIA Corp (NASDAQ: NVDA) just ahead of its latest earnings report. For the day, the chip designer declined by $3.39 or 1.59% to close at $209.66. As of time of writing, the issue is trading up during after hours near the $215-220 area.

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