S&P 500 closes at 7,785.76 on August 14, 2026 — sentiment falls to 51
The S&P 500 closed at 7,785.76 on August 14, 2026, down 0.17% from a record close, as preliminary Michigan consumer sentiment fell 7.6% to 51.0
The three lines
- S&P 500 7,785.76 (-0.17%) · Nasdaq 26,729.16 (-0.28%) · Dow 53,732.41 (-0.20%)
- Michigan consumer sentiment preliminary 51.0, down 7.6% from July's final 55.2 and below the 54.5 consensus
- All three indexes still closed a third consecutive winning week. The 10-year Treasury yield rose 5bp to 4.67%
Key questions
- What was the S&P 500 closing price on August 14, 2026?
- 7,785.76, down 13.23 points or 0.17% from the August 13 close of 7,798.99, which was a record. The Nasdaq Composite fell 73.86 points (0.28%) to 26,729.16 and the Dow Jones Industrial Average fell 107.58 points (0.20%) to 53,732.41. In points these are small moves; what made the session notable is that it followed a record and that the decline began after a specific data release.
- Why did a sentiment reading of 51 matter?
- Because of both the size of the drop and where it landed. The University of Michigan's preliminary August index came in at 51.0, down 7.6% from July's final 55.2 and below a consensus near 54.5. It was the first decline in three months. The internals matter more than the headline: assessments of personal finances fell only slightly, while expected business conditions dropped 11% for the short run and 17% for the long run. Respondents were not saying their own finances had worsened — they were saying they expect the economy to worsen. Year-ahead inflation expectations edged up to 4.3% from 4.2%; the five-year figure was unchanged at 3.3%.
- So the week was still positive?
- Yes. All three indexes fell on August 14 but each closed a third consecutive winning week. Two inflation prints landed earlier in the week — US July CPI at 3.4% and US July PPI flat month over month — and both were milder than markets had feared. The gains built on those releases outweighed Friday's single-session decline. The record close also came inside this week.
A day earlier this page reported that the S&P 500 had set a record at 7,798.99. On August 14 the index handed back 13.23 points of it.
7,785.76. Down 0.17%. A small number.
Small, but with a clear cause. One survey released in the morning set the direction for the day.
1. The numbers
| Index | August 14 close | Change |
|---|---|---|
| S&P 500 | 7,785.76 | -13.23 (-0.17%) |
| Nasdaq Composite | 26,729.16 | -73.86 (-0.28%) |
| Dow Jones Industrial Average | 53,732.41 | -107.58 (-0.20%) |
Prior closes were 7,798.99, 26,803.03 and 53,839.99. Declines of 0.2–0.3% are not, on their own, news. What puts this session in the record is that it followed an all-time high and that the slide began right after a specific data release.
The Treasury market moved the other way.
| Maturity | August 14 yield | Change |
|---|---|---|
| 10-year | 4.67% | +5bp |
| 30-year | 5.27% | higher |
Stocks fell and yields rose on the same day. Normally an equity decline pushes money into Treasuries and yields down. The reconciliation is in the same survey: consumers' year-ahead inflation expectation ticked up, and bonds read that as a reason to demand more yield. The mechanics of that relationship are set out in "When bond yields rise, why do stocks fall?"
2. 51 — where the drop happened
The University of Michigan Index of Consumer Sentiment came in at 51.0 for early August.
| Item | Value |
|---|---|
| August preliminary | 51.0 |
| July final | 55.2 |
| Change | -7.6% |
| Consensus | 54.5 |
| Year-ahead inflation expectation | 4.3% (July 4.2%) |
| Five-year expectation | 3.3% (unchanged) |
The composition matters more than the headline.
The survey splits broadly into current conditions and expectations. In this reading, assessments of personal finances fell only slightly. Expected business conditions dropped 11% for the short run and 17% for the long run.
That arrangement says something fairly specific. Respondents did not report that their own situation had deteriorated. They reported expecting the economy to deteriorate. In sentiment data those are different signals — one reflects what has already happened, the other is the kind that makes households postpone spending.
It also broke a run. July's final 55.2 had been a five-month high, and this was the first decline in three months.
3. And yet the week was up
A losing session and a winning week, in the same five days.
| When | Event |
|---|---|
| August 12 (US) | US July CPI 3.4% — milder than feared |
| August 13 | S&P 500 record close, 7,798.99 |
| August 13 (US) | US July PPI flat month over month |
| August 14 | Sentiment 51 → all three indexes lower |
| Week | Third consecutive weekly gain for all three |
Early in the week the input was inflation, and it was gentler than expected twice. On Friday the input was sentiment, and it was worse than expected once. The week netted positive.
Two stories are pulling apart here. Inflation is cooling while consumers turn darker about what comes next. Cooler inflation reduces rate pressure and helps equities; weaker consumer expectations cut revenue forecasts and hurt them. August 14 was the day the second story took the session.
4. When this reaches Seoul
On the same calendar day, Korea's KOSPI rose 2.42% to 6,977.94, touching 7,010.86 intraday. One of the inputs behind that move was US July PPI, released in New York on August 13.
So when does August 14's New York decline reach Seoul?
Tuesday, August 18. August 15 is Liberation Day in Korea; because it falls on a Saturday in 2026, Monday August 17 is a substitute holiday and Korean markets are closed. New York trades on August 17. Seoul's August 18 open therefore has to absorb two New York sessions at once. The holiday calendar is set out in "Korea's substitute holiday on August 17."
5. What is still open
51.0 is preliminary. The final August figure is due August 28, 2026. Michigan preliminary and final readings often differ by a point or two, and the direction has changed before — in July the final came in above the preliminary.
The consensus figure is unsettled. Outlets published 54.5 and 55.0. Either way, 51.0 was a miss.
How much oil contributed is unknown. Brent settled 1.7% higher at $88.52 and WTI 1.4% higher at $82.40 the same day, after the US said its naval blockade of Iran could run indefinitely — covered in "Hormuz transits at 3% of pre-war levels." Whether that fed the equity decline is interpretation, not measurement. How oil reaches consumer prices is covered in "How many days until an oil move reaches your wallet."
One more thing remains. The gap between a 4.3% inflation expectation and a 3.4% actual reading. What households think prices are doing sits 0.9 percentage points above what the statistics measure. That gap is among the numbers the Federal Reserve watches most closely, because expectations that harden tend to pull actual inflation toward them. The framework for reading US inflation data is in "What US CPI is."
Sources
- Yahoo Finance — Stock market today: S&P 500 slips from record high but caps third straight week of gains
- TheStreet — Stock Market Today (Aug. 14, 2026): S&P 500 edges lower following record close
- InvestingLive — US August prelim UMich consumer sentiment 51.0 vs 54.5 expected
- Crypto Briefing — Michigan consumer sentiment falls to 51 in August, below estimates
- Axios — Consumer sentiment dips, especially among Republicans
- University of Michigan — Surveys of Consumers