The August employment report improved soft landing prospects for the Fed, with a slowing job growth trend, a rise in unemployment, and a better labor supply-demand balance.

However, seasonal influences in the stock market may not be as favorable this week.

Equities are entering a historically poor month, with September being the S&P 500’s poorest since 1945.

The S&P 500 typically declines in August, but this year’s surge may favor investors.

Fundstrat believes consensus caution of September will prove unwarranted, with September probabilities favoring a 2% to 3% gain.