Markets consolidated after S&P 500 record high, with Fed confirming July rate cut expectations
All three TSP equity funds (C/S/I) moved to 'Hold' status, prompting allocation delay
Iran tanker seizure and upcoming GDP data create uncertainty for next week's markets
The markets had a consolidation week with the S&P 500 hitting a new record high on Monday, but selling off the rest of it and closing at 2976 on Friday. Earnings season continued with 79 percent of companies reporting better than expected “low bar” profits. The Fed also solidified their view that there will be an interest rate cut announcement at their 30 July meeting. Next week we have the GDP number on Friday, no further "Official Fed Board" news as they are in their blackout period (the two weeks prior to their meeting), and 25 percent of the S&P 500 companies reporting earnings. The big unknown happened as the markets were closing on Friday. What will be the response to Iran’s capture of more oil tankers? For TSP TIPS, all three equity funds (C/S/I) moved into “Hold” territory and the performance rankings are pretty much aligned with the current allocation. As such, we’ll hold off utilizing our second allocation of the month until next week, if warranted.
The markets had a consolidation week with the S&P 500 hitting a new record high on Monday, but selling off the rest of it and closing at 2976 on Friday. Earnings season continued with 79 percent of companies reporting better than expected “low bar” profits. The Fed also solidified their view that there will be an interest rate cut announcement at their 30 July meeting. Next week we have the GDP number on Friday, no further "Official Fed Board" news as they are in their blackout period (the two weeks prior to their meeting), and 25 percent of the S&P 500 companies reporting earnings. The big unknown happened as the markets were closing on Friday. What will be the response to Iran’s capture of more oil tankers? For TSP TIPS, all three equity funds (C/S/I) moved into “Hold” territory and the performance rankings are pretty much aligned with the current allocation. As such, we’ll hold off utilizing our second allocation of the month until next week, if warranted.