S&P 500 snags seven-month win streak | Risk ahead for markets? | Two inflation worry signs

The S&P 500 notched its seventh straight month of gains.

VIEW IN BROWSER | SUBSCRIBE TUE, AUG 31, 2021 EVENING BRIEF AS OF TUE, AUG 31, 2021 • 04:30 ET DJIA 35360.73 -0.11% -39.11 S&P 500 4522.68 -0.13% -6.11 NASDAQ 15259.24 -0.04% -6.66   Most Active DOW NAME LAST CHG %CHG AAPL 151.83 -1.29 -0.84% MSFT 301.88 -1.71 -0.56% INTC 54.06 +0.12 +0.22% S&P 500 NAME LAST CHG %CHG AAPL 151.83 -1.29 -0.84% WFC 45.70 -2.71 -5.60% BAC 41.75 +0.09 +0.22% NASDAQ NAME LAST CHG %CHG AAPL 151.83 -1.29 -0.84% AMD 110.72 -0.60 -0.54% ZM 289.50 -58.00 -16.69%   EDITOR'S NOTE The S&P 500 closed Tuesday slightly lower, but finished August in the green and notched its seventh straight month of gains. The winning streak is the index's longest since a 10-month stretch ending in December 2017.   The S&P 500 shed 0.1% on Tuesday. Meanwhile, the Dow Jones Industrial Average fell 39.11 points and the Nasdaq Composite eased 0.04%. All three indexes closed the month higher and have rallied double-digits this year. Mark Haefele, chief investment officer of global wealth management at UBS, predicts the S&P 500 will reach 4,600 by the end of 2021 and run to 5,000 by the end of 2022.   "We believe that the momentum toward reopening and recovery is intact and that there is further upside to equities," Haefele said.   However, some strategists see risks ahead in September. The S&P 500 has been positive just 45% of the time in September since World War II, according to CFRA.   One upcoming risk is the August employment report set to be released Friday, which could influence the Federal Reserve's decision making in its September meeting as the central bank weighs plans to cut back its bond buying program by the end of this year. Hannah Miao | CNBC Associate Markets Reporter @HannahMiao_ TOP NEWS  S&P 500 falls slightly Tuesday, but notches 7th-straight winning month in August There are mounting risks that make September a potentially hazardous time for stocks Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says Nearly 1 million Covid booster shots have already been administered in the U.S., CDC data shows 'They have better things to do' – Major Republican donors are staying away from Trump Two more factors have popped up that add to the Fed's inflation worries The No. 1 economist on Wall Street sees a solid outlook into year-end Three reasons why UBS believes the S&P 500 can rally to 5,000 Amazon pushes deworming drug falsely touted as Covid treatment These charts show which states will get the most money from Biden's infrastructure bill   TOP VIDEO The economic hit levied by Hurricane Ida   CNBC PRO Goldman believes this trade will return more than 20% over the next 12 months   SPECIAL REPORTS Workers' savings just don't match expected retirement income, survey finds With national eviction protection gone, applying for rental assistance is key. Here's what you need to know   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 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