S&P 500 broke 4200 milestone with 90% of companies beating earnings expectations this quarter
C and S funds hit record highs while I fund remains 1.5% below its peak - no rebalancing yet
April jobs report Friday could show 1M new jobs and unemployment falling to 5.8%
The S&P 500 had a nice week with it crossing the 4200 level for the first time and closing at 4211 on Thursday. On Wednesday we received good news from Fed Chairman Jerome Powell when he stated that the central bank would need to see inflation sustained about 2% “for some time” before it moved to raise interest rates. On Thursday initial jobless claims fell below last week’s revised number, setting another new pandemic-era low. But overall, earnings data made headlines with nearly 90% of the S&P 500 companies that have reported topping earnings estimates. Next week should be somewhat tame until Friday morning when we get April’s employment report with economist’s estimates calling for 1 million jobs added and the unemployment rate expected to fall to 5.8%. For TSP TIPS both the C and S funds hit new record highs this week while the I fund is shy about 1.5%. As such, we’ll hold off on making any reallocations for now.
The S&P 500 had a nice week with it crossing the 4200 level for the first time and closing at 4211 on Thursday. On Wednesday we received good news from Fed Chairman Jerome Powell when he stated that the central bank would need to see inflation sustained about 2% “for some time” before it moved to raise interest rates. On Thursday initial jobless claims fell below last week’s revised number, setting another new pandemic-era low. But overall, earnings data made headlines with nearly 90% of the S&P 500 companies that have reported topping earnings estimates. Next week should be somewhat tame until Friday morning when we get April’s employment report with economist’s estimates calling for 1 million jobs added and the unemployment rate expected to fall to 5.8%. For TSP TIPS both the C and S funds hit new record highs this week while the I fund is shy about 1.5%. As such, we’ll hold off on making any reallocations for now.