Volatility didn't derail the major averages with the S&P 500 having its best week since August and closing Friday at 4391. On Monday the S&P 500 closed at its lowest level since its most recent record high on 2 September. However, it then rallied back and on Thursday got a boost by a deal being reached to raise the debt ceiling through 3 December. Fridays payroll report was a little bit contradictory as only 194,000 jobs were added in September, well below the 500,000 estimates. On the other hand, the unemployment rate fell to 4.8% which is the lowest level since 2016. Also on Friday, the U.S. oil benchmark crossed above $80 per barrel for the first time since November 2014 making energy the weeks best performing sector. From a technical perspective, the S&P 500 remains range bound just below the midpoint between its most recent high of 4536 and subsequent low of 4300. Next week we have a lot of activity which will influence the markets starting with earnings season, Consumer Price Index (CPI), and the Fed minutes all on Wednesday. Then on Thursday we have the Producer Price Index followed by Consumer Sentiment on Friday. For TSP TIPS, both the C and S funds hit post 2 September lows on Monday, followed by the I fund on Wednesday. However, all three of the TSP equity funds are still in the channel we mentioned last week, i.e. below their 50-day moving average but above their 200-day moving average. Since none of the funds have broken out of that channel we will continue with our current allocation. Lastly, just a reminder that the markets and TSP are closed Monday in observance of Columbus Day.
BONUS NEWS: We have added three short videos which provide guidance on how to come up with your Retirement Number. They can be accessed directly at the bottom of "http://www.weisertinvestments.com/tsp-tips.html" and are:<br>1) Retirement Salary Estimator<br>2) TSP Savings Growth<br>3) TSP Withdrawal Options<br>All three demonstrate how to utilize the TSP calculators (TSP Home Page/Blue Bar) and will allow you to enter data specific to your situation. First demonstrated during our Bureau of Indian Affairs training, please feel free to check them out this long weekend
Volatility didn't derail the major averages with the S&P 500 having its best week since August and closing Friday at 4391. On Monday the S&P 500 closed at its lowest level since its most recent record high on 2 September. However, it then rallied back and on Thursday got a boost by a deal being reached to raise the debt ceiling through 3 December. Fridays payroll report was a little bit contradictory as only 194,000 jobs were added in September, well below the 500,000 estimates. On the other hand, the unemployment rate fell to 4.8% which is the lowest level since 2016. Also on Friday, the U.S. oil benchmark crossed above $80 per barrel for the first time since November 2014 making energy the weeks best performing sector. From a technical perspective, the S&P 500 remains range bound just below the midpoint between its most recent high of 4536 and subsequent low of 4300. Next week we have a lot of activity which will influence the markets starting with earnings season, Consumer Price Index (CPI), and the Fed minutes all on Wednesday. Then on Thursday we have the Producer Price Index followed by Consumer Sentiment on Friday. For TSP TIPS, both the C and S funds hit post 2 September lows on Monday, followed by the I fund on Wednesday. However, all three of the TSP equity funds are still in the channel we mentioned last week, i.e. below their 50-day moving average but above their 200-day moving average. Since none of the funds have broken out of that channel we will continue with our current allocation. Lastly, just a reminder that the markets and TSP are closed Monday in observance of Columbus Day.
BONUS NEWS: We have added three short videos which provide guidance on how to come up with your Retirement Number. They can be accessed directly at the bottom of "http://www.weisertinvestments.com/tsp-tips.html" and are:<br>1) Retirement Salary Estimator<br>2) TSP Savings Growth<br>3) TSP Withdrawal Options<br>All three demonstrate how to utilize the TSP calculators (TSP Home Page/Blue Bar) and will allow you to enter data specific to your situation. First demonstrated during our Bureau of Indian Affairs training, please feel free to check them out this long weekend