Stock Market's 2024 Gain Surged to Over 13%; Inflation Report Could Shake Things Up

The S&P 500 — a broad measure of large U.S. stocks — jumped from an 11% year-to-date gain (August 3, per AP News) to over 13% by August 7, per Reuters. That's roughly two percentage points in four days. Reuters questioned whether real value or trader positioning drove the surge. Upcoming inflation data could shift Federal Reserve rate expectations and test whether the rally holds.