S&P 500 rose 1%+ to record high of 2939, driven by better-than-expected Q1 GDP of 3.2%
TSP C fund hit record high while S fund reached new 2019 peak on strong earnings results
Upcoming employment report and continued earnings season could drive further market moves
The S&P 500 rose more than one percent this week to push through to a record closing high of 2939 on Friday. Like last week, "better than expected" economic data contributed to this record with first quarter GDP reported at 3.2%, better than the 2.5% estimate. Earnings have also continued to be a positive, and big moves were in store for companies that exceeded (Ford up over 10%; biggest one-day gain since 2009) or missed their marks (Intel off 9%, biggest one-day loss since 2016). Next week earnings season marches on with hopefully continued strong results and then we get the monthly Employment report on Friday. For TSP TIPS, the TSP C fund hit a record high on Friday while the and S fund hit a new 2019 high. Based on our Performance Rankings, our current allocation remains right on the money and we’ll see what May brings us next week.
The S&P 500 rose more than one percent this week to push through to a record closing high of 2939 on Friday. Like last week, "better than expected" economic data contributed to this record with first quarter GDP reported at 3.2%, better than the 2.5% estimate. Earnings have also continued to be a positive, and big moves were in store for companies that exceeded (Ford up over 10%; biggest one-day gain since 2009) or missed their marks (Intel off 9%, biggest one-day loss since 2016). Next week earnings season marches on with hopefully continued strong results and then we get the monthly Employment report on Friday. For TSP TIPS, the TSP C fund hit a record high on Friday while the and S fund hit a new 2019 high. Based on our Performance Rankings, our current allocation remains right on the money and we’ll see what May brings us next week.