News Summary

• Major indexes have jumped in August, hitting record highs in the last week.
• The S&P 500 broke through the 7,800 ceiling for the first-ever time on Thursday.
• Investors are pricing in a 37.8% chance the Fed will leave rates unchanged through the end of the year, up from 22.9% a week ago.
• But forecasters are also eyeing headwinds that threaten to spoil the party, and investors are entering a period of seasonal weakness in equities.