Market News for August 28, 2026
Every story Market Flux published on August 28, 2026.
- Market Flux Event
Trump Announces US Majority Control of 65 Billion Barrels of Venezuelan Oil Reserves in Historic Deal
President Trump announced Friday that the United States has entered a major oil agreement with Venezuela, securing majority U.S. control over more than 65 billion barrels of proven oil…
- Most Active
Solstice Advanced Materials Surges 16% After Scrapping $14.5 Billion Element Solutions Acquisition
Solstice Advanced Materials shares climbed roughly 16% on Friday, reaching $65.33 in midday trading, after the specialty materials company and Element Solutions mutually agreed to terminate…
- Most Active
Elastic Beats Q1 Fiscal 2027 Estimates and Raises Full-Year Guidance, Stock Surges 22%
Elastic NV shares surged more than 22% in pre-market trading on August 28 and hit a 52-week high of $105.79 before crossing above the average analyst 12-month target price of $83.72, after…
- Top Mover
Stripe and Advent International Abandon $50 Billion PayPal Takeover Bid, Sending Shares Down 14%
A consortium led by Stripe and Advent International has formally abandoned its pursuit of PayPal Holdings, Bloomberg reported on August 28, triggering a sharp selloff that sent shares down…
- Top Mover
PG&E Shares Drop 7% After California Lawmakers Block Wildfire Liability Reform
PG&E Corp shares fell roughly 7% on Friday, crossing below their 200-day moving average of $16.83 and touching as low as $15.84, after California lawmakers blocked Governor Gavin Newsom's…
- Top Mover
Marvell Shares Tumble 8% Despite Record Revenue and Raised Guidance as Google Deal Timing Disappoints
Marvell Technology reported record fiscal second-quarter revenue of $2.739 billion, up 37% year over year and 13% sequentially, with data center revenue surging 46% to $2.17 billion, yet…
- Top Mover
Nvidia Posts 106% Revenue Growth to $96B and Guides to $108B Next Quarter Fueling Broad AI Rally
Nvidia reported second-quarter revenue of $96.22 billion, a 106% increase year over year, and guided for $108 billion in third-quarter revenue, well above the roughly 45% growth Wall Street…
- Top Mover
Ulta Beauty Beats Q2 Estimates and Raises FY2026 Outlook but Stock Slips on Margin Concerns
Ulta Beauty reported a Q2 2026 earnings beat and raised its full-year sales growth guidance to a range of 6.7% to 7.2%, while also announcing $1.8 billion in share buybacks and lifting its…
- Top Mover
Edison International and PG&E Shares Fall After California Lawmakers Block Newsom Wildfire Liability Plan
Shares of Edison International and PG&E tumbled on August 28 after California lawmakers blocked Governor Gavin Newsom's push to prevent insurers from recovering wildfire losses directly…
- Market Flux Event
Fed Chair Warsh Warns Inflation Fight Is Not Over at Jackson Hole, Sparking Rate-Hike Bets and Friday Stock Selloff
Federal Reserve Chair Kevin Warsh said Friday at the central bank's annual Jackson Hole retreat that inflation remains too high and the Fed "has more work to do," driving markets to price…
- Market Flux Event
Fed Chair Warsh Warns Inflation Still Too High at Jackson Hole, Bond Markets Price In Rate Hikes
Federal Reserve Chairman Kevin Warsh used his first major speech at the annual Jackson Hole symposium in Wyoming to signal that the central bank has more work to do on inflation, explicitly…
- Market Flux Event
Federal Judge Orders Trump Administration to Lift Ban on Anthropic AI Technology for Federal Agencies
US District Judge Rita F. Lin in San Francisco ruled late Thursday that the Trump administration must lift its ban on Anthropic's AI technology for federal agencies, finding the Department…
- Unusual Volume
Elastic Surges 22% After Beating Q1 Estimates and Raising Full-Year Revenue Guidance
Elastic NV shares jumped roughly 22% in premarket trading on August 28 after the software company beat fiscal first-quarter 2027 earnings estimates and raised its full-year outlook, with…
- Market Flux Event
Trump Signs Executive Order to Create US Space Academy at NASA Johnson Space Center Visit
President Donald Trump signed an executive order Friday at NASA's Johnson Space Center in Houston to establish a United States Space Academy, a NASA-led federal institution modeled after…
- Market Flux Event
Fed Chair Warsh Signals Inflation Fight Not Over at Jackson Hole, Sending September Hike Odds Above 55%
Federal Reserve Chair Kevin Warsh delivered a hawkish speech at the Kansas City Fed's annual Jackson Hole Economic Policy Symposium on August 28, warning that inflation progress has not…
- Market Flux Event
Advent and Stripe Abandon $50 Billion Takeover Bid for PayPal, Sending Shares Tumbling
PayPal shares fell sharply on August 28 after Bloomberg reported that Advent International and Stripe have walked away from their roughly $50-53 billion pursuit of the payments company. The…
- Unusual Volume
Workday Q2 2027 Results Beat on AI Momentum but Draw Mixed Analyst Reactions
Workday posted second-quarter fiscal 2027 results highlighted by subscription revenue of $2.471 billion, up 14% year-over-year, with total revenue rising 13% to $2.649 billion as AI agent…
- Unusual Volume
Marvell Shares Fall 8% Despite Record Q2 Revenue as Google AI Deal Timing Disappoints Investors
Marvell Technology posted record fiscal second-quarter revenue of $2.739 billion, up 37% year over year and 13% sequentially, with data center revenue hitting a record $2.17 billion, up 46%…
- Unusual Volume
Affirm Holdings Surges 11-13% After Record Profitable Quarter and Q1 Revenue Beat
Affirm Holdings jumped roughly 11-13% in premarket and regular trading on August 28 after reporting its most profitable quarter on record in fiscal Q4 2026. The buy-now, pay-later company…
- Top Story
Fed Chair Warsh Strikes Hawkish Tone at Jackson Hole Debut, Warns Inflation Progress Is Insufficient
Federal Reserve Chair Kevin Warsh delivered his first Jackson Hole keynote on August 28, striking a hawkish tone that sent short-term interest rate futures lower as traders lifted their…
- Market Flux Event
Moderna Sinks 7% and BioNTech Falls 4% as Profit-Taking Hits mRNA Stocks Friday Alongside Broad Tech Slide
A wave of profit-taking swept through biotech and technology stocks on Friday August 28, with Moderna shedding roughly 7% as traders booked gains on a year-to-date surge that had reached as…
- Market Flux Event
Japan and US Spent Record $98.7 Billion in Coordinated Yen Intervention Over Past Month
Japan's finance ministry disclosed that it spent a record $98.7 billion over the past month propping up the yen, in a rare coordinated move with the U.S. Treasury, the first joint…
- Market Flux Event
Canada Posts Fastest Economic Growth in Over Three Years with 3.3% Annualized Q2 GDP Gain
Canada's economy expanded at an annualized rate of 3.3% in the second quarter of 2026, its strongest pace of growth since 2023, according to Statistics Canada. Total real GDP reached 2.524…
- Market Flux Event
FDA Expands Mounjaro Label to Reduce Heart Attack and Stroke Risk in Type 2 Diabetes Patients
The FDA approved an expanded label for Eli Lilly's Mounjaro (tirzepatide) to reduce major adverse cardiovascular events, including heart attack and stroke, in high-risk patients with type 2…
- Market Flux Event
BioNTech Halts Phase 2 mRNA Colorectal Cancer Trial After Safety Board Orders End, Shares Fall 10%
BioNTech terminated its mid-stage clinical trial of autogene cevumeran, its mRNA-based cancer vaccine for colorectal cancer, after the trial's independent Data Safety Monitoring Board…
- Market Flux Event
Chevron Nears Billion-Dollar Deal to Add Two Venezuelan Heavy-Oil Fields as Halliburton Also Enters Talks
Chevron is close to a deal to expand its Venezuelan operations by adding two heavy-oil fields to its portfolio, the Wall Street Journal reported on August 28, with the agreement potentially…
- Market Flux Event
Markets Tread Water as Fed Chair Warsh Prepares First Jackson Hole Keynote
U.S. stocks opened mostly flat on Friday as investors held their positions ahead of Federal Reserve Chairman Kevin Warsh's keynote address at the annual Jackson Hole symposium, scheduled…
- Market Flux Event
Fed Chair Warsh Strikes Hawkish Tone at Jackson Hole Debut, Puts September Rate Hike Back in Play
Federal Reserve Chair Kevin Warsh delivered his first Jackson Hole keynote on August 28, striking a hawkish tone that sharply repriced market expectations for a September rate hike. Warsh…