The S&P 500 gained 1.15% for the week to close at 7,811.54, just below its 52-week high of 7,844.52, as large caps continued to dominate the broader market narrative.
The Nasdaq Composite added 0.64% to finish at 27,366.17, with its weekly high of 27,722.75 also marking its 52-week high, while support held near 27,288.79.
The Dow Jones Industrial Average climbed 0.93% for the week to 51,654.95, trading between a weekly low of 50,862.85 and a high of 51,765.11, just above early June resistance at 51,660.40.
The Russell 2000 told a starkly different story, falling 0.91% to close at 2,806.98, with an RSI14 of just 38.2 compared to the S&P 500’s reading of 59.9.
The small-cap index also sits below its 10-day simple moving average of 2,813.40 and its mid-September low of 2,832.37, both of which now act as overhead resistance.
Volatility remained subdued, with the VIX settling at 15.47 and the VXN easing 0.65 points to 20.55, suggesting limited fear among large-cap investors despite the small-cap weakness.
Gold slipped 0.40% on the day but rose 1.02% for the week to $4,199.30 an ounce, while WTI crude jumped 3.90% for the week to reach $92.92 a barrel.
The 10-year Treasury yield eased four basis points for the week to 5.24%, offering some modest relief to rate-sensitive sectors as investors assessed the divergence between large and small caps.
Alimentation Couche-Tard Inc. (TSX: ATD) announced a definitive agreement to acquire certain retail assets from Irving Oil, including 50 retail sites in Quebec, two additional Ontario locations, and fuel supply to 71 Quebec retail sites.
“This agreement builds on our longstanding relationship with Irving Oil and our experience operating these locations,” said Stephane Trudel, Senior Vice President of Operations at Alimentation Couche-Tard, adding, “These are markets and customers we know well.”
RTX (NYSE: RTX) unit Raytheon secured a five-year contract with two additional option years valued at up to $6.3 billion for production and sustainment of Standard Missile-3 Block IB interceptors, with work to be completed primarily in Tucson, Arizona and Huntsville, Alabama.
“This award underscores Raytheon’s commitment to increasing production of critical munitions, ensuring our customers have the defensive capabilities they need, when they need them,” said Phil Jasper, Raytheon President.
Lockheed Martin (NYSE: LMT) debuted its new PAC-3 Edge interceptor as part of the U.S. Army’s Future Interceptor program, with development and testing slated to begin in 2027 ahead of a targeted rapid deployment by 2031.
The company invested $250 million into its Strigo Product Center to fuel the new seeker technology underpinning the PAC-3 Edge, which also features a multi-pulse solid rocket motor designed by Northrop Grumman.
“Lockheed Martin’s PAC-3 Edge interceptor leverages the combat-proven PAC-3 MSE, delivering even greater maneuverability, power and velocity to ensure the Army’s layered defensive architecture remains the most advanced in the world,” said Tim Cahill, Lockheed Martin Missiles and Fire Control president.
SAP SE (NYSE: SAP) entered an agreement to acquire TechWolf, an AI work intelligence platform built around a proprietary context graph, with the deal expected to close in Q4 2026 subject to regulatory approval and financial terms undisclosed.
“TechWolf’s proprietary context graph for skills and work provides an excellent grounding layer for agent queries regarding work and skills planning and talent management,” said Manoj Swaminathan, president and chief product officer for SAP Autonomous Suite.
Sun Life Financial Inc. (TSX: SLF) disclosed that Ocehan LLC launched an unsolicited mini-tender offer to purchase up to 100,000 Sun Life common shares at a discount of approximately 24.97% to the Toronto Stock Exchange closing price on August 27, 2026.
Sun Life made clear it is not associated with Ocehan and does not recommend or endorse acceptance of the offer, noting shareholders who have already tendered may withdraw shares within 21 days.
