S&P 500's YTD Gain Jumped to Over 13% in Four Sessions; Inflation Data Next Test

The S&P 500's year-to-date gain leapt from 11% (August 3 close, per AP News) to above 13% by August 7, per Reuters — roughly two percentage points in four sessions. Reuters questioned whether fundamentals or positioning drove the move. Upcoming inflation data could shift Federal Reserve rate expectations and test the rally's durability.