It was a record-setting week for major indices as the S&P 500 closed Friday at a new all-time high of 5026. With light economic news this week, it was all about that 5000 S&P 500 number. Breaking the streak of three days of more than 1% moves the previous week, Monday started slow and finished the day down 0.3%. On Tuesday we recouped most of Mondays loss with the S&P 500 closing at 4954, within 1% of that 5000 level. On Wednesday the S&P 500 gapped up at the open and reached an intraday high of 4999.87 (so close). On Thursday we kept chugging upward and crossed that 5000 level one minute prior to the close, but could not maintain it into the close. Before Fridays open Decembers consumer price index was reported as a 0.2% increase, down from the initial 0.3% increase. This seemed to energize the markets and the S&P 500 opened above that 5000 level and maintained a bullish trend, closing at that record high of 5026. From a technical perspective all three major averages notched their fifth straight winning week and 14th positive week in 15. Also, 36 S&P 500 stocks reached new 52-week highs during Fridays trading session, with 25 companies reaching new all-time highs. For next week we get Januarys CPI number before Tuesdays open and then the University of Michigan consumer sentiment on Friday. For TSP TIPS the C fund still leads the Performance Ranking leaderboard, but the S fund has now overtaken the I fund. As such, we recommend the following new investment mix.
It was a record-setting week for major indices as the S&P 500 closed Friday at a new all-time high of 5026. With light economic news this week, it was all about that 5000 S&P 500 number. Breaking the streak of three days of more than 1% moves the previous week, Monday started slow and finished the day down 0.3%. On Tuesday we recouped most of Mondays loss with the S&P 500 closing at 4954, within 1% of that 5000 level. On Wednesday the S&P 500 gapped up at the open and reached an intraday high of 4999.87 (so close). On Thursday we kept chugging upward and crossed that 5000 level one minute prior to the close, but could not maintain it into the close. Before Fridays open Decembers consumer price index was reported as a 0.2% increase, down from the initial 0.3% increase. This seemed to energize the markets and the S&P 500 opened above that 5000 level and maintained a bullish trend, closing at that record high of 5026. From a technical perspective all three major averages notched their fifth straight winning week and 14th positive week in 15. Also, 36 S&P 500 stocks reached new 52-week highs during Fridays trading session, with 25 companies reaching new all-time highs. For next week we get Januarys CPI number before Tuesdays open and then the University of Michigan consumer sentiment on Friday. For TSP TIPS the C fund still leads the Performance Ranking leaderboard, but the S fund has now overtaken the I fund. As such, we recommend the following new investment mix.