NEW YORK (AP) — Stocks are drifting Monday as Wall Street rolls toward the end of another winning month.

The S&P 500 was mostly unchanged in afternoon trading, on track for a fifth straight month of gains, which would be its longest winning streak in nearly two years. The index is near a 16-month high after rallying on hopes cooling inflation will mean the economy can avoid a long-predicted recession.

The Dow Jones Industrial Average was up 45 points, or 0.1%, at 35,506 as of 1:43 p.m. Eastern time, and the Nasdaq composite was 0.1% higher.

To be sure, critics have been saying Wall Street’s seemingly growing consensus for a soft landing for the economy has come too quickly. Several reports this upcoming week could poke holes in the theory that inflation will keep coming down enough for the Federal Reserve to not only stop hiking interest rates but to begin cutting them by early next year.

Big names in the market, such as Rob Arnott at Research Affiliates, are warning not to be “overly hasty in popping the champagne corks.” Arnott sees the possibility of inflation rebounding again later this year, even though it’s cooled considerably recently.

Fed Chair Jerome Powell himself has pointed to Friday’s upcoming report on the overall U.S. job market as an important datapoint. Growth needs to be strong enough to keep a lid on worries about a possible recession. But a reading that’s too hot could also mean upward pressure on inflation, which could push the Fed to get more aggressive about rates.

High rates undercut inflation by slowing the overall economy and dragging on prices for stocks and other investments.