S&P 500 broke 5-week winning streak due to Turkish financial crisis fears on Friday
C and S funds both hit record highs Wednesday with similar performance rankings
Market consolidation expected next week as strong earnings season winds down
The S&P 500 came close to posting its sixth straight week of gains, but concerns about the Turkish financial crisis on Friday put a damper on global markets. While the S&P 500 finished the week down 7 points at 2833, we’re still just shy by a little more than one percent of hitting a new record high. To put this in perspective, Turkish stocks have fallen more than 50 percent in 2018 alone as measured by the iShares Turkey ETF. Ouch!! For next week, we may see some more consolidation as a solid earnings season comes to an end, but hopefully we’ll see continued bullishness with U.S. markets making another run for the record. For TSP TIPS, both the C and S funds hit record highs on Wednesday and have similar Performance Rankings, so we’ll continue with our current allocation.
The S&P 500 came close to posting its sixth straight week of gains, but concerns about the Turkish financial crisis on Friday put a damper on global markets. While the S&P 500 finished the week down 7 points at 2833, we’re still just shy by a little more than one percent of hitting a new record high. To put this in perspective, Turkish stocks have fallen more than 50 percent in 2018 alone as measured by the iShares Turkey ETF. Ouch!! For next week, we may see some more consolidation as a solid earnings season comes to an end, but hopefully we’ll see continued bullishness with U.S. markets making another run for the record. For TSP TIPS, both the C and S funds hit record highs on Wednesday and have similar Performance Rankings, so we’ll continue with our current allocation.