- The major U.S. stock indices moved higher in August. The Dow Jones Industrial Average increased by 7.57%, the S&P 500 was up 7.01%, and the Nasdaq Composite advanced 9.59%.
- The S&P 500 surpassed its previous pre-pandemic high of 3386.15 reached in February 19. The index rose to a new record high of 3508.01 on August 28, a rise of 57% from this year’s low on March 23.
- The spread between the S&P 500 Index dividend yield and 10-year Treasury hit an all-time high. Increasing inflation expectations and negative real rates are pressuring bond demand.
Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
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