Aug 29th 2014 – Best August in 14 Years For S&P 500

Market View:

It’s a real kickback to pre-world war II years, when strangely August was the best trading month of the year.  Since then the sell in May and go away became popular, but again hasn’t worked so well this year!

The bulls bought the bottom again today and pushed it higher, we may see the S&P 500 move away from 2000 now, starting next week.

Market holiday on Monday, so have a great long weekend!

Market News:

U.S. stocks rose on Friday, lifting the S&P 500 to another record finish, as investors welcomed a better-than-expected read on U.S. consumer confidence and bypassed geopolitical worries.

The Thomson Reuters/University of Michigan’s final take on consumer sentiment rose to 82.5 in August from 81.8 the month before.

Ahead of the open, stock-index futures trimmed gains after consumer spending unexpectedly declined in July, off 0.1 percent after rising 0.4 percent the month before, the Commerce Department said.

Data from overseas had euro-zone inflation declining to a five-year low this month, with consumer costs in the 18 nations that use the euro climbing 0.3 percent year-on-year last month, the European Union’s statistics office Eurostat reported.

U.K. Home Secretary Theresa May said the government was hiking the terror threat level to severe, based on intelligence from Iraq and Syria.

Wall Street also tracked the situation between Russia and Ukraine, with fighting between separatists and government forces reportedly intensifying and NATO releasing satellite images of Russian troop movements in eastern Ukraine, a claim dismissed by Russia.

The European Union and United States are warned of additional sanctions against Russia, even as the EU started discussions in Moscow on Friday targeting an interim agreement with Ukraine to restart natural-gas flows.

News Sources:  CNN Money & CNBC