What will S&P 500 (SPY) hit in August 2026?
The S&P 500 closed at 7652.86 on August 24, 2026, off 1.87% from its August 13 record of 7798.99 amid pressure from technology shares, Treasury yields, and oil prices, while remaining up roughly 12% year-to-date. The Federal Reserve held the federal funds target range at 3.50–3.75% in late July, with three dissents favoring a 25-basis-point hike due to persistently elevated inflation and broad-based price pressures, even as economic activity expanded solidly and the unemployment rate hovered near 4.1%. Recent labor and CPI data have tempered expectations for near-term tightening, supporting equity valuations near current levels with limited room for further August highs before month-end resolution.