Last week the S&P 500 closed at 4123, and this Friday the S&P 500 closed 100 points lower at 4023. However, in those five days we had daily moves of over one, two and three percent. Driving this volatility was concerns about inflation and interest rate hikes. On Wednesday Aprils consumer price data jumped to 8.3%, higher than expected and just under the 40-year high of 8.5%. On Friday the University of Michigan consumer sentiment for May fell to 59.1, the lowest since August 2011. From a technical perspective, these numbers drove the market indices downward with the S&P 500 now having six straight losing weeks, its longest streak since 2011. In fact, on Thursday the S&P 500 closed just shy of the 20% pullback that would have met the technical definition of a bear market. For next week, we have Fed Chair Powell speaking on Tuesday followed by housing numbers on Wednesday and Thursday. For TSP TIPS, the C, S, and I funds all hit 52 week lows this week. As such, we are recommending no allocation changes.<br>BEAKING NEWS: We will be holding a TSP TIPS: Investment Strategies Zoom call on 24 May at 5 pm EDT. Register on Eventbrite by searching on the above title. The call will be recorded and posted on You Tube in case you cant be there on the 24th. Lastly, the direct registration link is https://www.eventbrite.com/e/tsp-tips-investment-strategies-registration-329788214427
Last week the S&P 500 closed at 4123, and this Friday the S&P 500 closed 100 points lower at 4023. However, in those five days we had daily moves of over one, two and three percent. Driving this volatility was concerns about inflation and interest rate hikes. On Wednesday Aprils consumer price data jumped to 8.3%, higher than expected and just under the 40-year high of 8.5%. On Friday the University of Michigan consumer sentiment for May fell to 59.1, the lowest since August 2011. From a technical perspective, these numbers drove the market indices downward with the S&P 500 now having six straight losing weeks, its longest streak since 2011. In fact, on Thursday the S&P 500 closed just shy of the 20% pullback that would have met the technical definition of a bear market. For next week, we have Fed Chair Powell speaking on Tuesday followed by housing numbers on Wednesday and Thursday. For TSP TIPS, the C, S, and I funds all hit 52 week lows this week. As such, we are recommending no allocation changes.<br>BEAKING NEWS: We will be holding a TSP TIPS: Investment Strategies Zoom call on 24 May at 5 pm EDT. Register on Eventbrite by searching on the above title. The call will be recorded and posted on You Tube in case you cant be there on the 24th. Lastly, the direct registration link is https://www.eventbrite.com/e/tsp-tips-investment-strategies-registration-329788214427