• The S&P 500 extended its winning streak to eight days, rising nearly 1 percent on Monday.
• Recent market performance was driven by broad-based gains across sectors and strong economic data.
• Investors are looking forward to the Federal Reserve’s Jackson Hole meeting and upcoming retail earnings.

The S&P 500 extended its winning streak to eight days on Monday.

The benchmark index rose nearly 1 percent on Monday and has risen nearly 8 percent since its winning streak began on August 8.

Monday’s gains were spread across all sectors, with communications services and consumer discretionary stocks leading the gains, followed by technology and basic materials.

Nvidia shares rose more than 3% on Monday, boosted by an optimistic assessment from Wedbush about the future of AI technology spending.

Stock market gains over the past week and a half have been driven by better-than-expected economic data and earnings, most notably July retail sales and Walmart’s second-quarter earnings, both released last week.

Investors are now turning their attention to the annual meeting of the US Federal Reserve in Jackson Hole, Wyoming, where Fed Chairman Jerome Powell will speak on Friday.

Although the Fed will not make a rate decision this week, the meeting will provide Powell with an opportunity to prepare markets for a rate cut in September.

“The key is whether Fed Chairman Powell remains dovish. We expect this to happen for two simple reasons: First, inflation is better than generally expected,” said Tom Lee of Fundstrat in a note on Monday. “Second, the labor market is weakening while unemployment is rising. Why would the Fed pursue a restrictive monetary policy?”

Aside from the Fed, investors will be paying attention later this week to second-quarter results from retail companies, including Lowe’s, TJX Cos. and Target, as well as comments from the Democratic National Convention.

On Monday, Kamala Harris’ campaign team said the vice president supports raising the corporate tax rate from 21% to 28%.

Here you can see the US indices at the close of trading on Monday at 4:00 p.m.:

Here’s what else is happening today:

For commodities, bonds and cryptocurrencies:

• The price of West Texas Intermediate crude oil fell 2.45% to USD 73.69 per barrel. The international benchmark price of Brent crude oil fell 2.51% to USD 77.68 per barrel.
• The price of gold rose 0.20 percent to $2,542.80 per ounce.
• The yield on 10-year government bonds fell 2 basis points to 3.87%.
• Bitcoin rose 0.84% ​​to $58,931.