What Happened Today, Friday August 28, 2026, 5:00 PM ET close
Stocks Slip as Iran War Fallout and Jackson Hole Comments Weigh on Markets
Nasdaq and S&P 500 futures pull back as Iran war headlines and Fed commentary from Jackson Hole dominate the tape.
ES and NQ at the close
NQ, Nasdaq 100 futures
29,509.50
-0.63% on the day
Day range 29,436.75 to 29,811.50
ES, S&P 500 futures
7,724.75
-0.23% on the day
Day range 7,712.00 to 7,782.50
How did our Futures Trading Algo Do Today?
Trades
6
ES/NQ/RTY/BTC ยท live + forward-test
Result
-$2,182.18
net for the day
Discipline
Six setups fired and all six stopped out, and the system took the loss across the board instead of doubling down on any single name, which is exactly what a rules based book is supposed to do on a red day.
Friday was a clean sweep of losses for the paper book, six trades and zero wins. MZ_BTC_asia_sess_5m was the closest to breakeven, its short losing about $104 on average across two entries, while VBO_NQ_LonClose_1h was the worst performer, a long that gave back $579. The three London close breakout variants on NQ and ES, SH_VBOx_ES_LonClose_1h_N55, SH_VBO_NQ_LonClose_1h, and SH_VBOx_NQ_LonClose_1h_N55, all stopped out for similar sized losses, leaving the net at negative $2,182.18 for the session.
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SPY and QQQ
The story
US stocks closed lower on Friday as investors weighed the economic fallout from the six month old Iran war alongside comments from Fed voices at Jackson Hole. Nasdaq futures dropped 0.63% to 29,509.5, giving back some of the week's gains after touching a high of 29,811.5. S&P 500 futures slipped a smaller 0.23% to 7,724.75, holding a tighter range between 7,712 and 7,782.5. The Dow also traded lower as energy and shipping costs climbed on new US sanctions tied to the conflict, leaving traders cautious heading into the weekend.
The MAG7 and the megacaps
Mega cap tech names tracked the Nasdaq lower on Friday as the broader market digested a mix of Fed commentary and geopolitical headlines. GE Vernova's announcement that its CFO plans to retire added a small company specific ripple to what was otherwise a macro driven session. Growth and tech stocks, which had powered recent gains, cooled off as investors rotated into a more defensive posture ahead of the weekend.
After the bell
Warsh's Jackson Hole Speech
Markets parsed comments from Fed voice Warsh at Jackson Hole for clues on the path of policy, adding to the cautious tone that pressured futures into the close.
Iran War Hits the Six Month Mark
The US hit Egyptian bank branches with fresh Iran related sanctions as the conflict passed six months, and the Navy's ongoing blockade has slashed Iranian oil exports as part of a broader shift to economic pressure.
Energy Supply Chains Under Strain
QatarEnergy canceled gas deliveries to Italy's Edison until early November over the Iran war, while Gulf states are pouring new investment into pipelines and ports to keep energy flowing around the disruption.
Fuel Costs Rising, Profits Mixed
US transport fuel surcharges have climbed because of the conflict, but the tighter supply picture has also lifted profits for some players in the industry.
Crypto
Bitcoin had a rougher day than equities, falling 3.54% to close near $77,419.41. The move took BTC from an early high above $81,148 down to a low around $77,077, a wide range that shows how jumpy crypto markets remain around macro headlines. The pullback lined up with the broader risk off tone tied to Middle East tensions and lingering uncertainty coming out of Jackson Hole.
Into the night
Overnight headlines centered on the Iran war reaching its six month mark, with the US hitting Egyptian bank branches with new Iran related sanctions and the Navy's blockade continuing to squeeze Iranian oil exports. QatarEnergy canceled gas deliveries to Italy's Edison until early November because of the conflict, and Gulf states are stepping up investment in pipelines and ports to route around the disruption. Transport fuel surcharges in the US have climbed as a result, even as some energy companies are seeing a profit boost from the tighter supply picture.
What is coming next
NQ Support
29,436.75
Friday's low for Nasdaq futures; a break below could open the door to more downside.
NQ Resistance
29,811.5
Friday's high; reclaiming this level would signal buyers stepping back in.
ES Range
7,712 to 7,782.5
S&P futures held this band Friday; a breakout either direction is worth watching.
BTC Watch
$77,077
Bitcoin's Friday low; holding above this level keeps the pullback orderly.
Heading into next week, traders will keep an eye on further Iran war developments, especially anything tied to oil exports, sanctions, or Gulf infrastructure, along with any follow through commentary from Fed officials after Jackson Hole. With Bitcoin's wider swing this week, crypto markets may also stay more reactive to headlines than stocks in the near term.
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We send market moving news the moment it hits, straight to Telegram, Discord and X. Then this recap pulls the day together every evening: ES and NQ, the MAG7, crypto, and what is next.
Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-08-28 session close; charts are live and interactive. Always verify before acting.