Powered by Apple, the S&P 500 posts biggest August gain since 1986

Not since the Reagan administration has the S&P 500 done this: For the month of August, the S&P showed a gain of 7.01%, its biggest advance for August since 1986 when it rose 7.1% that month.

U.S. stocks indexes riseSinéad Carew for Reuters:

While the S&P boasted its steepest August percentage gain in more than three decades it ended Monday slightly lower and the Dow also lost ground as investors took a pause although the Nasdaq closed higher thanks to high-flying stocks including Apple Inc.

The Federal Reserve’s commitment to tolerate inflation and keep interest rates low, positive developments in vaccines and treatments for COVID-19 and a rally in tech-focused stocks have helped the S&P 500 and Nasdaq hit record highs in August.

The Nasdaq… ended the day almost 20% above its pre-crisis record closing high. Its top two boosts for Monday were from Apple Inc and Tesla Inc after their stock splits… For the S&P, this was its longest winning steak on a monthly basis since a six-month run from April to September 2018.

Apple ended the day 3.4% higher at $129.04 while Tesla closed up 12.6% at $498.32.

MacDailyNews Take: As the S&P 500 posts its biggest August gain since 1986, here’s a fitting quote:

We who live in free market societies believe that growth, prosperity and, ultimately, human fulfillment are created from the bottom up, not the government down. Only when the human spirit is allowed to invent and create, only when individuals are given a personal stake in deciding economic policies and benefiting from their success – only then can societies remain alive, dynamic, prosperous, progressive and free.

Trust the people. This is the one irrefutable lesson of the entire post-war period, contradicting the notion that rigid government controls are essential to economic development. The societies that have achieved the most spectacular, broad-based progress are neither the most tightly controlled, nor the biggest in size, nor the wealthiest in natural resources. No, what unites them all is their willingness to believe in the magic of the marketplace. — Ronald Reagan, September 29, 1981

30 Comments

        1. Pardon me if I’m not impressed. According to the Columbia Journalism Review, the methodology of MediaBias/FactCheck is for the founder (who has a BA in Communications) and his associates to read a publication and assign it a 1-10 score on bias based on subjective criteria. That is not to say that the NYT or WaPo are not more liberal than some alternatives, but it is to say that the judgment may not be based on objective criteria. Just because a publication has a point of view does not mean that it is misrepresenting facts that can be independently verified.

      1. Are you serious?

        The New York Times and Washington Post are the top two most liberal biased newspapers in the world today.

        Both have been trending leftward since the days of Walter Cronkite on his sail boat off the coast of Cape Cod.

        Winning Pulitzer Prizes with FAKE Russian stories and to this day have not returned them. That speaks volumes about the lack of integrity of the Pulitzer committee.

        Get a GRIP, Snowflake…

    1. It would be nice if the MDN rightwingers truly believed in Capitalism and not a Oligarch run society.

      Apples News app offers the user a choice of publications so the fool who claims it to be leftwing has obviously never used the service. One wonders why the political animals on this site bother to support Apple in any way since Apple has never been led by rightwingers.

      As for the The NY Times and Washington Post — what publications hire a greater number of investigative journalists? What publications have significantly more content about what actions happen in those cities, as opposed to hearsay and tweet repeats from cherrypicked personalities that always agree with your preconceived biases? No publication is perfect but it is absolutely ridiculous to propose that going through life without being exposed to a full 360 degrees of viewpoints is better. The highly educated eastern cities have just as valid inputs as the rightwing propaganda rags, and probably more since the left has always done more fact checking. When a publication doesn’t have a huge depth of powerful entrenched corporate interests bankrolling it, it has to use truth to survive.

      Maybe Australian Rupert Murdoch told you differently with his blatant propaganda rags?

    2. Biggest richest corporation in the world is run by people who don’t believe in capitalism?

      MDN is infested by right wingnuts who have lost all touch with reality. All they can do is scream insults.

    1. What is your evidence that anybody formally associated with the Black Lives Matter movement is burning down our country? Curious how the same people who lean over backwards to point out that law enforcement should not be condemned for “a few bad apples” are the first to condemn peaceful protesters as a whole because a few bad apples use them as cover for unrelated criminal activities. Where is the outrage over the Americans killed by right-wing violence?

      1. “…first to condemn peaceful protesters as a whole because a few bad apples”

        Pretty funny considering the left condemns all gun owners because a few bad apples.

        Fscking hypocrite (as are all libturds)

      2. “What is your evidence that anybody formally associated with the Black Lives Matter movement is burning down our country?“

        Right, it’s not BLM burning down our cities. It’s not Antifa burning down our cities. It’s not conservatives burning our cities. It’s not Catholic priests or Rabbis burning down our cities.

        So by process of elimination, I guess it must be “PEACEFUL PROTESTORS” are burning down our cities!🤣

          1. NO, it makes total sense.

            What does not make sense is you don’t mention who is responsible and if BLM is involved at all. Why is that?

            Obvious you either don’t know or refuse to admit BLM is involved, then cowardly cop out with yet another blanket disagreement of my post, total yawn.

            BLM is indeed involved with burning, looting, assaulting citizens, police and threatening others and the Jewish people.

            http://jewishjournal.org/2020/08/27/letter-anti-semitism-and-blm/

            Peaceful protestors my ass, BLM radicals are now the biggest threat to law and order in Democrat cities in concert with Antifa agitators that you
            personally counted in the U.S. at 500 members. HA!

            What’s next on your disinformation campaign more double standard hypocrisy. I would not be surprised if you support Pelosi was setup by the salon and they forced her to go there to get her hair down and not wear a mask breaking the law?…🤣🤣🤣🤣🤣

      3. Circling back around, a few “bad apples”, seriously?

        “Peaceful Protestors” is yet another broad brush LIE present day we hear from Liberals like you and the liberal media that turns a blind eye to selective sides of reality.

        Yes, some are local and peaceful, but increasingly large numbers as the DOJ is now investigating are coming in from out of state the protests are taking place.

        Investigators are looking into who is financing outside protestors to buy implements of destruction, feed and provide for housing weeks at a time as they fly or drive around the country from hotspot to hotspot.

        The U.S. Attorney General William Barr on CNN, unbelievable in itself broadcasters of the one size fits all description of protestors, said over 100 protestors arrested in one city alone were from out of state. Think about that.

        Plain common sense suggests it is not 100% innocent peaceful protesting locals of Portland that have the luxury not to go to school or work and spend all night for three months fighting police and causing violence and destruction.

        These professional financed agitators and their backers must be exposed and brought to justice and while they are a SEPARATE group from law abiding protestors, they are anything but ‘peaceful’…

      4. The DEFLECTION SPECIALIST strikes again!

        “Where is the outrage over the Americans killed by right-wing violence?”

        Where is the outrage over the Americans killed by left-wing violence and millions of dollars of damage destroying businesses and lives for three months in Portland and other cities, hmmm?

        Right, you can’t talk about left-wing violence and as usual deflect to your HATRED for the Right. Pathetic…

  1. You keep making the same mistake over and over again.

    The Columbia Journalism Review I told you before, just like the Pulitzer Committee or Mother Jones, are stacked with liberal BIAS personnel. More importantly and pay attention TxUser, they no longer are the unbiased guardians of objective thought. Do you understand and is it remotely possible it will sink into your thick skull? Probably NOT.

    “Just because a publication has a point of view does not mean that it is misrepresenting facts that can be independently verified.”

    “A point of view” is a point of bias. That said, yes I agree Fox News can independently verify the truth. CNN, New York Times, Wash Post not so much. They are all lying liberals, like YOU…

    1. Facts that can be independently verified by the reader… not the publication. Obviously, you have to be willing to do the fact-checking, rather than taking what the NYT, WaPo, or President say as gospel. Tell me, when Your Guy claims over 150 times that he was the first President to pass Choice for veteran’s medical care, when the law was signed by President Obama, is he a lying liberal? How about his claim that he is responsible for the National Guard being in Kenosha, when the Governor had moved the Guard into town on the 24th, before the President demanded it on the 25th? If you, or a NYT reader, is too lazy to check the facts, shame on you as well as them.

      1. For someone who repeatedly claims he is a lifelong Conservative Republican and not ONCE, gave credit to President Trump for ANYTHING positive.

        TxUser you are a liberal pathological f*cking LIAR!

        Nuff said…

        1. No, His Excellency Donald John Trump, President of the United States of America, is a pathological f’ing LIAR!

          There, I fixed it for you, since you obviously agree. If you didn’t, you would have provided some evidence that he told the truth in the two examples I gave, rather than shifting to a personal attack.

            1. Prove my point once (about shifting to personal insults when you cannot refute a readily confirmed fact that you find inconvenient) shame on you.

              Prove my point twice, more shame on you.

  2. “Not since the Reagan administration has the S&P 500 done this: For the month of August, the S&P showed a gain of 7.01%, its biggest advance for August since 1986 when it rose 7.1% that month.”

    That’s the best part Trump economics and Reagan economics have parallel construction success!

    President Trump is the most remarkable non politician politician that ever occupied the Oval Office. Don is a tireless worker for the American people of both parties. He has withstood and stands tall at relentless media attacks 24/7/365 for almost four years. The GREAT orange one deserves another four years to bring back the USA and what he could do for the rest of the world…

  3. Is the glass half empty or half full. I will take a President any
    time that may over emphasizes the glass is half full, compared to the last one we had that spent his whole time telling us it was half empty; planting the seeds of racial and societal discontent we are living through now because of him.

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