Power Lunch 8/27/26

**SPEAKER_1** (0:00)
Trading at Schwab is now powered by Ameritrade, bringing you an expanding library of education with even more ways to sharpen your trading skills. Access new online courses, insightful webcasts, articles, engaging videos and more. All curated just for traders. Plus guided learning paths with content designed to fit your unique interests. And no sifting to find exactly what you need, so you can spend your time learning to trade brilliantly. Learn more at schwab.com/trading.

**SPEAKER_2** (0:28)
Something amazing is happening when power outages strike.
Teams are powering through them. That's because CDW Solutions Architects are building more resilient IT and electrical infrastructures with Schneider Electric. With EcoCare Remote Monitoring Services and 24-7 support, your organization can do more than keep the lights on. Schneider Electric and CDW make amazing happen. Learn more at cdw.com/schneiderelectric.

**Brian Sullivan** (1:03)
The green light for stocks as technology leads yet again. Welcome to Power Lunch, everybody. I am Brian Sullivan. Kelly is back on Monday. Don't worry. I want to kick things off by noting what we kind of talked about in the last hour. What a weird kind of day it is for the market because every major metric is higher. Stocks, oil, bond yields, crypto, and more. It also happened the other day, but I can assure you it is very rare. But what also makes it weird is that inside the stock market, only one of the 11 S&P 500 sectors is higher. Technology, in other words, technology is so big, so powerful, it is literally dragging the entire market higher. The next catalyst, though, maybe for your money, Kevin Warsh, the Fed chair, taking center stage tomorrow morning in Jackson Hole, Wyoming. Steve Leesman is there. We're gonna bring you all that you need to know.
And yeah, as Steve said in the last hour, if we got a countdown clock, and we do, you know that it's big. All right, we have got a lot to do. And we begin with the tech bulls, not just breathing a sigh of relief, but actively putting a lot of money to work. NVIDIA at stock soaring up 9%.
That is its best day since April of 2025
Quarterly revenue more than doubling. And the market loved that the company not only gave guidance, but gave strong guidance of an expected 70% jump over the next year. CEO Jensen Wong saying that AI has quote, reached its inflection point.

**Jensen Huang** (2:38)
Demand is super strong, and incredibly, it's accelerating. We're seeing AI being adopted all over the world. Every single country wants to get involved. Every country needs to, every company wants to get involved.

**Brian Sullivan** (2:51)
And that Blockbuster quarter, reigniting or igniting the AI trade. Some chip stocks that stumbled a little bit this quarter, they are flexing their muscles today. NVIDIA, Credo, Broadcom, Astera, Intel, they are all higher. And get this, even though the entire market is up, like we said, it's really just all about technology. So, is that really the sign of a healthy market? Or should you just not care if one group, and one group alone today anyway, is pulling up the entire market higher? Let's kick off our opening panel here on Power Lunch to talk more about that. Baird, strategist, chief market strategist, Chris Ferrone and KKM Financial, CIO, Jeff Kilburg. It's like you guys just appeared out of nowhere. We had it there. I turned and looked and then boom, there you are.
Chris, I'll start with you.

**Chris Ferrone** (3:39)
Yeah, please.

**Brian Sullivan** (3:40)
Do we care that it's only technology that's up today?

**Chris Ferrone** (3:43)
Brian, let's not read too much into one day's price action. This has been a highly rotational market, really over the last 12 weeks or so.
I would remind the viewer, 75% of the S&Ps have the 200A right now. This has been a very broad advance when you kind of go back to that mid-May period, really early June when the momentum factor began to peak, began to see groups like Healthcare and Financials really take the baton. I like the fact that NVIDIA is back involved here. This is a stock that's been dead money for the better part of the last year.

**Brian Sullivan** (4:10)
Deadish, it's up 14% coming into today. That's not a great year, but I would take 14%, it's not a bad year.

**Chris Ferrone** (4:17)
It's been in a 230 to 190 range for the better part of the last year. While a lot of its peers have certainly run, I would really like to see this breakout above that 230 level. I think it reignites this kind of MAG-7 hyperscaler trade.

**Brian Sullivan** (4:30)
Yeah, and Jeff Kilburg, I know you made a great call on Intel a number of months ago, a stock I think you still like. And I reference Intel not just because it's up today, but because NVIDIA today is gaining about an Intel of value today. I mean, I'm running out of hyperbole here, and that says something, Jeff.