The markets closing headlines on Friday centered around the Dow losing 255 points. That loss was primarily due to the negative news regarding Boeing (737 Max) and Johnson & Johnson (traces of asbestos in baby powder). However, if you peel the onion back a little bit and instead look at corporate earnings, you’ll see a much different picture. With over 70 S&P 500 companies reporting earnings this week, 81% posted better-than-expected results. Other good news was that the U.K. and European Union struck a long-awaited draft Brexit deal. When it was all done, the S&P 500 briefly crossed above the 3,000 level, and closed Friday up for the week at 2986. The TSP had one of those “unusual” weeks when they were closed on Monday while the stock markets were open. For TSP TIPS, we would have preferred getting Monday’s lower buy price for the reallocation. That said, both the C and I funds are now within one percent of their record highs, and we are hopeful that positive earnings will push their prices further upward.
The markets closing headlines on Friday centered around the Dow losing 255 points. That loss was primarily due to the negative news regarding Boeing (737 Max) and Johnson & Johnson (traces of asbestos in baby powder). However, if you peel the onion back a little bit and instead look at corporate earnings, you’ll see a much different picture. With over 70 S&P 500 companies reporting earnings this week, 81% posted better-than-expected results. Other good news was that the U.K. and European Union struck a long-awaited draft Brexit deal. When it was all done, the S&P 500 briefly crossed above the 3,000 level, and closed Friday up for the week at 2986. The TSP had one of those “unusual” weeks when they were closed on Monday while the stock markets were open. For TSP TIPS, we would have preferred getting Monday’s lower buy price for the reallocation. That said, both the C and I funds are now within one percent of their record highs, and we are hopeful that positive earnings will push their prices further upward.