Market activity has been subdued recently, with no significant price movements observed. On August 28, the S&P 500 showed a modest increase of approximately 2.5% over the past month, but high-beta stocks have underperformed compared to low-volatility stocks by about 4 percentage points. This trend is unusual, as typically, high-beta stocks perform better during rising market conditions. Low-volatility stocks have been the primary drivers behind the S&P 500's gains in August, which raises concerns about the market's overall health and future performance. Accumulated trading volumes in the SPY ETF have also been significantly below the 30-day average, indicating a lack of investor engagement.