The stock market increased on Thursday, with technology and AI stocks leading the rally. Easing rate concerns also boosted investor sentiment after Fed Governor Christopher Waller said he could support holding rates steady if inflation data remains favorable.
Overall, S&P 500 went up 1.1% to 7,748, while Nasdaq rose 1.4% to 26,584.
Chart of the Day
Here is the one-year chart of Ecolab (ECL) as of August 24, 2026, when the stock was at $287.
Ecolab posted good results last quarter with 11% profit growth on a 10% increase in revenue. Global High-Tech was a standout, benefiting from strong demand related to data centers, microelectronics and AI infrastructure. Ecolab’s Global High-Tech sales surged 139%, boosted by the acquisition of Ovivo Electronics. Excluding Ovivo, Global High-Tech’s organic sales growth was still a solid 29%.
Ecolab’s Global High Tech is a sub-segment inside the Global Water operating segment, which delivered just 10% revenue growth last quarter.
In the earnings call, management said that pricing improved to 4% and is catching up with commodity inflation.
Looking ahead, Ecolab sees Global High-Tech as a major long-term growth engine. With the acquisition of CoolIT Systems, a provider of direct-to-chip liquid cooling for AI and data centers and water-adjacent infrastructure solutions, the company expects its Global High-Tech platform to grow at least 25% per year, reaching $4 billion in sales by 2030.
ECL is part of the Conservative Growth Portfolio.
