The S&P 500 closed at 4229 on Friday, just shy of its 7 May record high and resistance level of 4232. Volatility was low for the markets again, except for AMC which surged up over 100% on Wednesday before settling down to only an 80% gain for the week. On the economic front jobs made the headlines. On Thursday, private job growth for May reported a big jump from April and the largest gain in a year at 978,000 jobs. On Friday, the Labor Department reported adding 559,000 payrolls in May, which is a great improvement from the 278,000 payrolls added in April. The unemployment rate also fell to 5.8% from 6.1%. From a technical perspective, it would have been nice to see the S&P 500 cross above its resistance level, but investing takes time, persistence and most importantly, patience. For TSP TIPS, the I fund started the week with new record highs on Tuesday and Wednesday. And to finish off the week strong, the C and I funds both hit new record highs on Friday. They also have almost an equal Performance Ranking and therefore were recommending the following allocation.
The S&P 500 closed at 4229 on Friday, just shy of its 7 May record high and resistance level of 4232. Volatility was low for the markets again, except for AMC which surged up over 100% on Wednesday before settling down to only an 80% gain for the week. On the economic front jobs made the headlines. On Thursday, private job growth for May reported a big jump from April and the largest gain in a year at 978,000 jobs. On Friday, the Labor Department reported adding 559,000 payrolls in May, which is a great improvement from the 278,000 payrolls added in April. The unemployment rate also fell to 5.8% from 6.1%. From a technical perspective, it would have been nice to see the S&P 500 cross above its resistance level, but investing takes time, persistence and most importantly, patience. For TSP TIPS, the I fund started the week with new record highs on Tuesday and Wednesday. And to finish off the week strong, the C and I funds both hit new record highs on Friday. They also have almost an equal Performance Ranking and therefore were recommending the following allocation.