• Stocks fluctuated on Tuesday after the S&P 500 posted its best winning streak of 2024.

• The benchmark index was almost unchanged after closing with gains for the eighth straight day on Monday.

• The momentum has stalled as investors look for new catalysts to continue the rally.

The stock market rose slightly on Tuesday, but momentum faded as investors took a breather after the S&P 500’s longest winning streak this year.

Last week, improved sentiment helped the S&P 500 to an eight-day rally leading up to Monday’s meeting.

While that pushed stocks closer to all-time highs, trading was mixed on Tuesday morning. Investors are now looking for a new catalyst to further propel the rally, with attention set to turn to comments from the Federal Reserve expected later this week.

The market will be looking ahead to the central bank meeting in Jackson Hole, Wyoming, where Fed Chairman Jerome Powell is scheduled to speak on Friday.

Comments on interest rates or macroeconomic data will be of utmost importance to investors. After weaker-than-expected July labor market data, the market is pricing in a 71.5 percent probability of a 25 basis point rate cut in September, according to the CME FedWatch tool.

Ahead of Friday’s event, the market will be paying attention to revisions to wage growth released on Wednesday. That same day, investors will get a more detailed look at the Fed’s thinking on interest rates and the economy when the minutes of the Fed’s July meeting are released.

Here you can see the prices of the US indices at the start of trading at 9:30 a.m. on Tuesday:

Here’s what else is happening today:

For commodities, bonds and cryptocurrencies:

• The price of West Texas Intermediate crude oil fell 0.75% to USD 73.81 per barrel. The international benchmark price for Brent crude oil fell slightly to USD 77.63 per barrel.

• The price of gold rose 0.89% to $2,526.57 per ounce.

• The yield on 10-year government bonds fell two basis points to 3.84%.

• Bitcoin rose 1.61% to $60,527.

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