Markets Run Higher Ahead of the Fed. Key Observations Market Recap Equities moved higher in August, though leadership shifted beneath the surface. The S&P 500 rose 2.0% and remains up 10.8% year-to-date, but the more notable move came from small caps. The Russell 2000 surged 7.1% in August, erasing earlier weakness as investors grew more […] The post Rates Set the Price, Liquidity Sets the Terms appeared first on Heritage Financial Services.