Big August coming to an end | Steve Cohen in exclusive talks for Mets | Trading the Dow shake-up

After gaining another 3% on the week, the S&P 500 is up 7% for the month. This will be the best August for the benchmark since 1984.

VIEW IN BROWSER | SUBSCRIBE SAT, AUG 29, 2020 WEEKEND BRIEF EDITOR'S NOTE After gaining another 3% on the week, the S&P 500 is up 7% for the month. This will be the best August for the benchmark since 1984.   Following a 2.6% gain on the week, the underperforming Dow Jones Industrial Average finally wiped out its losses for 2020.   Earlier in the week, S&P Dow Jones Indices announced that Exxon Mobil — currently the oldest Dow component — Raytheon Technologies and Pfizer will be kicked out of the 30-stock average. They will be replaced by Salesforce, Amgen and Honeywell.   The end of Exxon, Raytheon and Pfizer in the Dow comes on the heels of lackluster stock performances. Exxon and Raytheon are down 41.7% and 29.5%, respectively, in 2020. Pfizer is also lagging the Dow, falling more than 3% year to date.   However, history suggests those three outgoing Dow members could get a bounce following their removal. Data compiled by Ned Davis Research shows stocks that are kicked out of the Dow have averaged a gain of more than 17% a year after their removal.   These changes  are set to take effect on Monday.   But the Dow, along with the rest of the market, could be put to the test as traders brace for the August jobs report. The report is scheduled for release on Friday and is expected to show 1.4 million jobs were created in August, according to economists polled by Refinitiv. However, some economists are already speculating the data could fall short of that lofty estimate, CNBC's Patti Domm writes. Fred Imbert | CNBC Markets Reporter @foimbert MICHAEL SANTOLI'S MARKET COLUMN Market posts one of the strongest July-August rallies in history as hazard after hazard melts away   THE WEEK AHEAD Stocks head into September in high gear as Apple and Tesla split, and markets await the August jobs report   YOUR WEEKEND BRIEFING  Hedge fund manager Steven Cohen in exclusive talks to buy New York Mets Stocks that leave the Dow tend to outperform after their exit from the average, history shows IRS guidelines on Trump's payroll tax holiday leave employers on the hook Elon Musk demonstrates brain-computer tech Neuralink in live pigs Analysts see more upside potential in stocks like Gap and Facebook as markets rally UAE ends boycott of Israel, permits economic and financial deals Abbott is testing its rapid coronavirus test on asymptomatic people in hopes of expanding FDA authorization     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