The benchmark S&P 500 has rebounded about 15% since mid-June, halving its year-to-date loss, and the tech-heavy Nasdaq Composite is up 20% over that time. In the past week, bullish sentiment reached its highest level since March, according to a survey from the American Association of Individual Investors. Data over the last two weeks bolstered hopes that the Fed can achieve a soft landing for the economy. Through Thursday, the S&P 500 was up 1.5% for the week, on track for its fourth straight week of gains. Wall Streeters taking vacations throughout August could also drain volume and stir volatility, said Hogan, of B. Riley Wealth.

Source: Wall Street Journal August 14, 2022 18:18 UTC