Best August for S&P 500 and Dow since 1980s | Apple, Tesla jump on stock splits | Leon Cooperman sees 'unimpressive' returns ahead

MON, AUG 31, 2020

EVENING BRIEF

AS OF MON, AUG 31, 2020 • 04:31 ET

DJIA		28430.05
		-0.78%	-223.82

S&P 500		3500.31
		-0.22%	-7.70

NASDAQ		11775.46
		+0.68%	+79.82

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DOW
NAME	LAST	CHG	%CHG
AAPL	129.04	+4.23	+3.39%
INTC	50.95	+0.52	+1.03%
MSFT	225.53	-3.38	-1.48%

S&P 500
NAME	LAST	CHG	%CHG
AAPL	129.04	+4.23	+3.39%
GE	6.34	-0.27	-4.08%
AMD	90.82	+5.27	+6.16%

NASDAQ
NAME	LAST	CHG	%CHG
AAPL	129.04	+4.23	+3.39%
TSLA	498.32	+55.64	+12.57%
AMD	90.82	+5.27	+6.16%

EDITOR'S NOTE

The Dow Jones Industrial Average and S&P 500 posted lackluster moves on Monday, but their gains for August were nothing short of spectacular.

Both market benchmarks ended the month with advances of more than 7%, marking their biggest August rallies since the 1980s. Those strong moves up were propelled in part by improving sentiment around the coronavirus pandemic, expectations of easy monetary policy for longer and massive gains by the major tech companies.

Apple popped 21.4% this month, reaching record levels, as investors snapped up the tech giant ahead of its 4-for-1 stock split. That move took effect Monday, which led to further gains by the name.

The market's rally in August pushed the S&P 500 back into record territory and essentially erased the Dow's year-to-date losses. However, billionaire investor Leon Cooperman thinks stock returns from here will be tougher to come by.

"The overall market, we've been pulling a lot of demand forward. I would expect that future returns will be relatively unimpressive for a long time," Cooperman told CNBC's "Squawk Box" on Monday.

Note: PRO subscribers are invited to join a live discussion on Sept. 2 with Walter Price of Allianz, whose funds have been among the top performers in the tech space over the long term. RSVP here and submit your questions here.