The S&P 500 fell for a third straight week closing Friday at 3924. Fridays employment report was a goldilocks event, i.e., as expected/not too hot/not too cold. The economy added 315,000 jobs for August, just under the 318,000 estimate, and unemployment rose to 3.7%, slightly higher than expected. Again, inflation and interest rates are looming in the background. From a technical perspective, this week we had two daily moves of more than minus one percent. In fact, the volatility has been so consistent that every week in 2022 has had at least one daily move of over one percent. Looking forward, macro-economic news will be light until 13 September when August CPI is reported, which will provide input to the Fed meeting on 20/21 September. For TSP TIPS, last weeks reallocation still looks good as we head into the long Labor Day weekend. As a reminder, the markets will be closed on Monday.
The S&P 500 fell for a third straight week closing Friday at 3924. Fridays employment report was a goldilocks event, i.e., as expected/not too hot/not too cold. The economy added 315,000 jobs for August, just under the 318,000 estimate, and unemployment rose to 3.7%, slightly higher than expected. Again, inflation and interest rates are looming in the background. From a technical perspective, this week we had two daily moves of more than minus one percent. In fact, the volatility has been so consistent that every week in 2022 has had at least one daily move of over one percent. Looking forward, macro-economic news will be light until 13 September when August CPI is reported, which will provide input to the Fed meeting on 20/21 September. For TSP TIPS, last weeks reallocation still looks good as we head into the long Labor Day weekend. As a reminder, the markets will be closed on Monday.