News of Moderna’s potential coronavirus vaccine and states reopening drove the markets higher this week, with the big move coming before the start of this week’s trading. Normally, the markets will usually open somewhere near the previous day’s close. However, on Monday, we had a bullish “Opening Gap” which set the precedent for the remainder of the week. To put numbers to it, on Friday 15 May the S&P 500 closed at 2863. On Monday, it opened at 2913, or about two percent higher than Fridays close. This bullish strength was further supported as the S&P 500 remained above that opening 2913 level throughout the rest of the week and closing Friday at 2955. This bullish theme was also widespread in that the Russell 2000 small cap index increased more than seven percent during the week. For TSP TIPS, this renewed strength in the Small Cap sector has resulted in parity between and C and S fund’s Performance Rankings and as such, we are recommending the following reallocation. Lastly, the markets will be closed on Monday for the holiday and we wish everyone a happy Memorial Day weekend!
News of Moderna’s potential coronavirus vaccine and states reopening drove the markets higher this week, with the big move coming before the start of this week’s trading. Normally, the markets will usually open somewhere near the previous day’s close. However, on Monday, we had a bullish “Opening Gap” which set the precedent for the remainder of the week. To put numbers to it, on Friday 15 May the S&P 500 closed at 2863. On Monday, it opened at 2913, or about two percent higher than Fridays close. This bullish strength was further supported as the S&P 500 remained above that opening 2913 level throughout the rest of the week and closing Friday at 2955. This bullish theme was also widespread in that the Russell 2000 small cap index increased more than seven percent during the week. For TSP TIPS, this renewed strength in the Small Cap sector has resulted in parity between and C and S fund’s Performance Rankings and as such, we are recommending the following reallocation. Lastly, the markets will be closed on Monday for the holiday and we wish everyone a happy Memorial Day weekend!