The Standard & Poor's 500 index rose 0.3% this week as investors grew more hopeful for a rate cut at the next meeting of policy makers at the Federal Reserve.

The market benchmark ended the week at 6,466.91, making its third consecutive week in the black. It is now up 2% for August and nearly 10% for the year.

The S&P 500 had been on track to snap its weekly winning streak as of the close of trading on Thursday, but turned positive on Friday following comments from Federal Reserve Chair Jerome Powell that were seen as opening the door to a possible rate cut in September.

"The balance of risks appears to be shifting," and an adjustment to the central bank's policy stance may be warranted, Powell said at a widely watched conference in Jackson Hole, Wyoming.

All but two sectors of the S&P 500 ended the week higher. Energy had the largest weekly percentage increase, up 2.8%, followed by a 2.4% rise in real estate and gains of 2.1% each in financials and materials.

The energy sector's climb came as crude oil futures also rose on the week. Gainers included shares of Schlumberger (SLB), which rose 8%, and Valero Energy (VLO), up 6.3%.

Top gainers in real estate included Host Hotels & Resorts (HST), up 7.6% and Alexandra Real Estate Equities (ARE), up 6.4%.

The two sectors in the red were technology, down 1.6%, and communication services, down 0.9%.

Intuit (INTU) was among the technology sector's top decliners, falling 7.6%. The company reported higher-than-expected fiscal Q4 results. However, Q1 revenue and fiscal 2026 global business solutions revenue guides fell short of expectations, weighing on the stock, UBS Securities said in a Friday research report.

Next week's economic reports will include the July personal consumption expenditures price index as well as the first revision to Q2 gross domestic product. July new home sales as well as pending home sales will also be released.