The S&P 500 hit another record high on Monday as the market continued to rise in the final days of August.

The broad market index rose 0.2% to hit a new intraday record high, and the Nasdaq Composite rose 0.4% to its own all-time high. The Dow Jones Industrial Average fluctuated between gains and losses in morning trading.

Key technology stocks were higher in early trading. Chip makers AMD and Nvidia each rose more than 1%, while Microsoft also gained 0.8%.

Affirm Holdings’ shares are now up more than 40% in early trading after the purchase, and the company later announced a partnership with Amazon on Friday. Amazon stock rose about 1%.

Financials weighed on the broader market, with Capital One down 3.7% and Wells Fargo 2%.

Monday and Tuesday mark the last two trading days in August. So far, the S&P 500 is up 2.6% in August. The Dow Jones Industrial Average and Nasdaq Composite are up 1.5% and 3.1% respectively this month.

The S&P 500 and Nasdaq Composite closed at all-time highs on Friday as investors breathed a sigh of relief after Fed chairman Jerome Powell signaled that bonds could expire this year, but the central bank is in no rush to lock rates raise.

Powell said inflation is solidly around the central bank’s 2% target rate, one of the targets of the Fed’s dual mandate; However, the Fed chairman also explained why he continues to believe that the current rise in inflation is temporary and will eventually decline to target levels.

CNBC Pro Stock Pick and Investment Trends:

Based on statements from other Fed officials, the announcement could be cut back at the Fed’s September 21-22 meeting. Powell said the central bank had “a lot of ground to overcome” in order to achieve its other goal of maximum employment.

“With record GDP and earnings growth, rising inflation and highs in infection rates of the Delta variant, the Fed will feel more pressure to lift what is essentially the emergency monetary policy adjustment,” wrote Mike Wilson of Morgan Stanley, who will soon see a correction of 10 % sees the market. “We expect a more formal signal from the Fed at the FOMC meeting in September and the markets will likely anticipate it. That means higher rates and lower stock valuations.”

Stocks could stay broadly in range until Friday’s August job report release. Economists polled by Dow Jones estimate that 750,000 jobs were created in August and the unemployment rate has fallen to 5.2%.

With the Fed’s meeting in Jackson Hole looking back, investors are now focusing on the performance of stocks for the final months of the year. The S&P 500 is up more than 20% in 2021, but the market is also absorbing top policy momentum, top profit accelerations, and top reopening momentum.

However, a slowdown in earnings and economic growth could continue to be a positive environment for equities.

“Even if the economy slows down slightly, the profit profile is clearly strong. Even with some weakening of these sky-high values, they will still be high enough to provide a conducive environment for stocks. In other words, a weakening of great attitudes too good, “Bank of America researchers said in a message to customers.

Oil futures were lower and gasoline futures were slightly higher than a minimal reaction to Hurricane Ida, which hit land over the weekend.

Zoom Video is supposed to report on the earnings on Monday after the bell.