The S&P 500 made it five consecutive weeks of gains, but just barely as it closed at 5,304. In a week of light economic news, Monday was flat, but Tuesday started a set of 2 two day bounces. Looking at the S&P 500, on Tuesday the S&P 500 was up 0.25% and set a record closing high of 5,321. On Wednesday we gave back those gains with a 0.27% loss. After Wednesdays closing bell Nvidia (NVDA) reported outstanding results and a 10:1 stock split, and its share price took off in post market action. This carried over into Thursday as the S&P 500 gapped up at the open setting an intraweek record high of 5,341, but closed near session lows with a 0.74% loss. That said, on Friday the S&P 500 reversed that loss with a gain of 0.70%, and closing one point higher than last Friday. From a technical perspective, we still have a trending bull with the S&P 500 making that new intraday record high and a fourth straight week of a higher intraweek high, and higher intraweek low. For next week we have the GDP number on Thursday followed by the Core Personal Consumption Expenditure (PCE) price index on Friday. For TSP TIPS both the I and C funds hit new record highs this week. As such we recommend no changes to our current investment mix. Lastly, we hope all of you that attended our zoom meeting on Tuesday enjoyed it and we answered all your questions. Based on some of the feedback we will be hosting another meeting in mid-June discussing the ProFunds family of indexed funds and ProFunds TIPS.
The S&P 500 made it five consecutive weeks of gains, but just barely as it closed at 5,304. In a week of light economic news, Monday was flat, but Tuesday started a set of 2 two day bounces. Looking at the S&P 500, on Tuesday the S&P 500 was up 0.25% and set a record closing high of 5,321. On Wednesday we gave back those gains with a 0.27% loss. After Wednesdays closing bell Nvidia (NVDA) reported outstanding results and a 10:1 stock split, and its share price took off in post market action. This carried over into Thursday as the S&P 500 gapped up at the open setting an intraweek record high of 5,341, but closed near session lows with a 0.74% loss. That said, on Friday the S&P 500 reversed that loss with a gain of 0.70%, and closing one point higher than last Friday. From a technical perspective, we still have a trending bull with the S&P 500 making that new intraday record high and a fourth straight week of a higher intraweek high, and higher intraweek low. For next week we have the GDP number on Thursday followed by the Core Personal Consumption Expenditure (PCE) price index on Friday. For TSP TIPS both the I and C funds hit new record highs this week. As such we recommend no changes to our current investment mix. Lastly, we hope all of you that attended our zoom meeting on Tuesday enjoyed it and we answered all your questions. Based on some of the feedback we will be hosting another meeting in mid-June discussing the ProFunds family of indexed funds and ProFunds TIPS.