Investors continue to grapple with the Delta variant, the timing of Fed tapering and the uncertain path for additional fiscal stimulus. Despite this, the 10-year Treasury yield moved higher last week, indicating less concern about a Fed policy mistake. The S&P 500 has hit 53 record highs in 2021 and the market finished higher for a seventh consecutive month in August. The S&P 500 (+0.6%) and NASDAQ (+1.6%) rose last week, while the DJIA ended lower (-0.2%).
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