# S&P 500 and Russell 2000 Hit Records Despite Mixed Macro Signals : Friday, August 14, 2026

- Source: https://orderflowfutures.com/en/news/2026-08-14
- Site: OrderFlowFutures (https://orderflowfutures.com)
- Edited by: Tom, Trader & founder of OrderFlowFutures (https://orderflowfutures.com/a-propos#auteur)
- Published: 2026-08-14
- Updated: 2026-08-14
- Reuse: free to quote and cite, with attribution to OrderFlowFutures and a link to the source URL.

> Driven by moderate CPI and flat PPI data, Wall Street pushed the S&P 500 and Russell 2000 to new historic highs. However, futures traders must navigate a downturn in US retail sales and consumer sentiment.

## US Index Records and Easing Rate Expectations

- **S&P 500 and Russell 2000 at highs**: The S&P 500 crossed the 7,800 mark in-session (intraday high at 7,816.79) before closing up +0.65% at 7,798.99 points. The Russell 2000 also hit an all-time high at 3,052.85 points (+0.2%).
- **Moderate inflation**: Flat Producer Price Index (PPI) reading for July (0.0% vs +0.2% expected), following a moderate CPI, reinforces expectations of a monetary policy pause.
- **Fed outlook**: Money markets now price in less than a 40% chance of a Federal Reserve rate hike in September. Citi analysts also expect the central bank to keep benchmark rates unchanged at the next meeting.

## Weak Consumer Data and Geopolitical Pressures

- **Drop in retail sales**: US retail sales fell 0.6% in July (vs +0.1% expected), marking their sharpest decline in 14 months, partly influenced by the calendar shift of Amazon Prime Day.
- **Slump in consumer sentiment**: The University of Michigan consumer sentiment index fell to 51.0 in early August (down from 55.2 in July), impacted by Middle East inflation fears.
- **Bonds and energy**: The German 10-year yield rose to 3.19% (+5 bps) amid the naval blockade and US-Iran standoff in the Strait of Hormuz. Crude oil gained 5% over the week.

## To watch today

- The effect of weaker US retail consumption on buying momentum for ES and NQ futures around record levels.
- Global sovereign bond yield and crude oil reactions to ongoing tensions in the Strait of Hormuz.

*Brief compiled from the morning's news flow, AI-assisted and reviewed before publication. Not investment advice.*