What to watch today: S&P 500 heads for best August in 34 years

What to watch today: S&P 500 heads for best August in 34 years

BY THE NUMBERSU.S. stock futures were pointing to further gains at Friday's open, with the S&P 500 soaring 6.5% this month and heading for its best August since 1986. The S&P and the Dow Jones Industrial Average continued their summer rallies Thursday on the Federal Reserve's announcement of a new inflation strategy that could keep interest rates lower for longer. (CNBC)* Fed's Mester: Recovery will be 'a slow one' and continuous economic support needed (CNBC)The S&P 500 closed at another record high, though below the best levels of the day, which saw the index top 3,500 for the first time ever. The Dow closed higher but off the day's highs, which saw blue chips turn briefly positive for 2020. The Dow has been the laggard on Wall Street, still about 3.5%