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

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

VIEW IN BROWSER | SUBSCRIBE 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   Most Active 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. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow closes more than 200 points lower but still notches best August since 1984 The payroll tax deferral takes effect Sept. 1. What it really means for your paycheck Billionaire Warren Buffett just turned 90—here are 6 pieces of wisdom from the investing legend Coronavirus vaccine before election unlikely — Dr. Gottlieb on FDA chief's possible fast-track Former Trump aide Steve Bannon 'border wall' fraud trial set for May 2021 JC Penney hits 'stalemate' with potential buyers. Lenders to make bid for department store in bankruptcy Netflix's growth is slowing, but the stock is still a buy, JPMorgan says House Democrats set to subpoena USPS chief Louis DeJoy for documents related to mail delays Milwaukee Bucks' arena granted approval to be voting location, co-owner Marc Lasry says Former Trump advisor Michael Flynn loses appeal seeking quick dismissal of criminal case   TOP VIDEO CNBC Investigates: How reliable is the U.S. Postal Service?   CNBC PRO Leon Cooperman says Apple, Tesla splits don't create value and calls Robinhood traders 'nuts'   SPECIAL REPORTS WHO warns that 'no country can just pretend the pandemic is over' NYU's 'Dean of Valuation' Aswath Damodaran on Apple and Tesla surge   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS