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What will S&P 500 (SPY) hit Week of August 24 2026?
The S&P 500 closed the prior week near 7,674 and opened the week of August 24, 2026, at 7,652.86 after pulling back 1.9% from its August 13 record of 7,798.99. Recent selling has been driven by rising long-term Treasury yields, geopolitical tensions tied to Iran sanctions, and profit-taking in semiconductors ahead of Nvidia’s earnings release on August 26. Traders are monitoring the July PCE reading and the Jackson Hole symposium, where Fed Chair Kevin Warsh’s speech could clarify the balance between persistent inflation pressures and labor-market data. Strong year-to-date earnings growth and institutional inflows into technology have supported the index’s 11.8% advance for the year, yet elevated yields and event risk leave weekly closing levels sensitive to any hawkish policy signals or AI-demand surprises.