The S&P 500 had its fifth straight week of gains closing at a record high of 3093 on Friday. Positive trade news and better-than-expected corporate earnings were the two main driving forces this week pushing the markets upward. Although we seem to have contradictory trade tariff news at times, it does appear that we’re closer to a “Phase One” done deal than not. On the corporate front, earnings season is coming to a close and 74 percent of companies have beaten estimates. From a technical perspective, major market indices are bullish with their prices above their 50 day moving averages which is above their 200 day moving averages. Also, this breakout market trend seems to be advancing at a steady pace as evidenced by complimentary Bollinger Band width. Next week’s economic news is relatively light, and we also have Disney+ entering the streaming marketplace. For TSP TIPS, the C and I funds both have advanced further into record territory. However, we have also seen a resurgence of the S fund. Its performance ranking has been steadily rising and it is now just a few pennies shy of hitting its own record high. That said, we are going to spread the wealth and take an initial position in the S fund. Please note that this is one of those Monday holidays when the markets are open but the TSP is not. As such, this reallocation will not take place until Tuesday’s close. Lastly, I say thanks to all of my fellow veterans on our special day!!
The S&P 500 had its fifth straight week of gains closing at a record high of 3093 on Friday. Positive trade news and better-than-expected corporate earnings were the two main driving forces this week pushing the markets upward. Although we seem to have contradictory trade tariff news at times, it does appear that we’re closer to a “Phase One” done deal than not. On the corporate front, earnings season is coming to a close and 74 percent of companies have beaten estimates. From a technical perspective, major market indices are bullish with their prices above their 50 day moving averages which is above their 200 day moving averages. Also, this breakout market trend seems to be advancing at a steady pace as evidenced by complimentary Bollinger Band width. Next week’s economic news is relatively light, and we also have Disney+ entering the streaming marketplace. For TSP TIPS, the C and I funds both have advanced further into record territory. However, we have also seen a resurgence of the S fund. Its performance ranking has been steadily rising and it is now just a few pennies shy of hitting its own record high. That said, we are going to spread the wealth and take an initial position in the S fund. Please note that this is one of those Monday holidays when the markets are open but the TSP is not. As such, this reallocation will not take place until Tuesday’s close. Lastly, I say thanks to all of my fellow veterans on our special day!!