S&P 500 set 4 new records in 5 days, gaining over 100 points since crossing 4K milestone
C and I funds both hit multiple new highs this week, prompting allocation increases
Earnings season starts next week alongside key economic data that could drive markets
The S&P 500 batted 800 this past week, setting new records on four of five days and closing Friday at a new high at 4128. It was just last week we crossed the 4K level and now one week later we’re more than 100 points higher thanks to the S&P 500 gaining 20 points in the last 45 minutes of Friday’s trading. As mentioned in last week’s write up, we did see the S&P 500 gap open on Monday based on strong payroll and unemployment numbers. I also mentioned that the best performing stocks from last year were underperforming with Apple and Amazon both down 7.58% and 5.00% respectively for the first quarter. I guess those companies didn’t like that recognition and reversed course to the upside this week, with Apple and Amazon wiping out those losses with gains of more than 8% and 6% respectively. Complementing those gains were the Federal Reserve’s meeting minutes which showed the central bank’s commitment to an accommodative policy to support a full economic recovery. Next week. on the economic front we get the consumer price index on Tuesday and the March retail sales report on Thursday. And not to be forgotten, earnings season starts and positive numbers could provide the basis for a continued bullish environment. For TSP TIPS, the C fund matched the S&P 500 and also hit four new highs this week, and it was joined by the I fund which had three new records including Thursday and Friday. As such, we’ll increase our current allocation in those funds as follows.
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The S&P 500 batted 800 this past week, setting new records on four of five days and closing Friday at a new high at 4128. It was just last week we crossed the 4K level and now one week later we’re more than 100 points higher thanks to the S&P 500 gaining 20 points in the last 45 minutes of Friday’s trading. As mentioned in last week’s write up, we did see the S&P 500 gap open on Monday based on strong payroll and unemployment numbers. I also mentioned that the best performing stocks from last year were underperforming with Apple and Amazon both down 7.58% and 5.00% respectively for the first quarter. I guess those companies didn’t like that recognition and reversed course to the upside this week, with Apple and Amazon wiping out those losses with gains of more than 8% and 6% respectively. Complementing those gains were the Federal Reserve’s meeting minutes which showed the central bank’s commitment to an accommodative policy to support a full economic recovery. Next week. on the economic front we get the consumer price index on Tuesday and the March retail sales report on Thursday. And not to be forgotten, earnings season starts and positive numbers could provide the basis for a continued bullish environment. For TSP TIPS, the C fund matched the S&P 500 and also hit four new highs this week, and it was joined by the I fund which had three new records including Thursday and Friday. As such, we’ll increase our current allocation in those funds as follows.