S&P 500, Nasdaq hit records again | Salesforce sparks tech rally | Big Powell speech Thursday

The S&P 500 and Nasdaq Composite rose to fresh record highs on Wednesday, building on their rallies off the March lows, as tech shares led the way higher.

VIEW IN BROWSER | SUBSCRIBE WED, AUG 26, 2020 EVENING BRIEF AS OF WED, AUG 26, 2020 • 04:38 ET DJIA 28331.92 +0.30% +83.48 S&P 500 3478.73 +1.02% +35.11 NASDAQ 11665.06 +1.73% +198.59   Most Active DOW NAME LAST CHG %CHG AAPL 506.09 +6.79 +1.36% MSFT 221.15 +4.68 +2.16% INTC 49.55 +0.12 +0.24% S&P 500 NAME LAST CHG %CHG FB 303.91 +23.09 +8.22% CRM 272.32 +56.27 +26.04% GE 6.48 -0.11 -1.67% NASDAQ NAME LAST CHG %CHG FB 303.91 +23.09 +8.22% AMD 86.02 -0.33 -0.38% AAL 12.79 -0.35 -2.70%   EDITOR'S NOTE Cash has been burning a hole in some professional investors' pockets and now they're joining the market rally.   Data compiled by Barclays showed mutual funds with "ample dry powder" have started buying stocks again after sitting on the sidelines following the coronavirus-induced market plunge earlier this year, writes CNBC's Yun Li.   The move back into stocks comes after less-experienced investors — specifically those trading on millennial-favored stock trading app Robinhood — nailed the market bottom and cashed in on the massive rally. However, the professionals who are buying stocks again may be joining the party a bit too late.   "Equity flows keep lagging far behind the strong equity market, which suggests that many investors have likely missed the recovery train," Emmanuel Cau, head of European equity strategy at Barclays, said in a note Wednesday.   The S&P 500 has already rallied back to record territory and is up more than 50% since hitting a low March 23. The broader market index has also popped more than 6% this month.   Those market gains for August will be put to the test on Thursday as Federal Reserve Chairman Jerome Powell is scheduled to deliver a speech from the central bank's annual monetary policy symposium. Powell is expected to outline a new policy framework aimed at bringing inflation closer to the Fed's 2% mandate.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  S&P 500 and Nasdaq close at records again as Salesforce sparks massive tech rally Laura upgraded to Category 4 hurricane, 'unsurvivable' storm surge forecast for Texas-Louisiana The Fed is expected to use a new pandemic-era tool to fight a long-running battle against low inflation Facebook warns Apple's iOS 14 could shave more than 50% from Audience Network revenue Investors with too much cash are jumping into stocks, joining Robinhood crowd to boost market Salesforce stock surges 26% a day after its blockbuster earnings report Dick's Sporting Goods crushes Wall Street estimates as online sales surge 194%, shares soar Coronavirus concerns fall and Trump approval ticks higher in swing states, CNBC/Change Research poll finds Fed's Esther George sees risks building of double-dip recession Here's the speaker lineup for the third night of the Republican National Convention   TOP VIDEO Jim Cramer: New traders will buy Lowe's, Home Depot ahead of the hurricanes   CNBC PRO Popular electric vehicle SPACs have a lot to prove as some expect the bubble to burst   SPECIAL REPORTS Dow vs S&P 500: Traders face off after Dow's most significant shake-up in years Facebook could be the next $1 trillion company. Here's how   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS