Nvidia (NVDA) and Bitcoin (BTC) made the headlines this week, but the S&P 500 consistently marched higher each day and closed Friday at 5,969. On Monday and Tuesday the S&P 500 gained about 0.4% both days, and on Wednesday it did squeak out a 0.13 point gain as the markets awaited NVDA earnings report after the bell. While they did beat estimates, the stock was down in after-hours trading and fell lower by weeks end. That said, Wednesday was also a tough day for Target (TGT) as it had its worst day in two years, down 21%. On Thursday and Friday we saw Bitcoin climbing higher, topping out just shy of the $100K level. Staying with the crypto theme, check out the recent performance of MicroStrategy (MSTR). We also saw a big rotation into small cap with the Russell 2000 climbing 1.8% in Fridays session, finishing the week up about 4.5%. From a technical perspective, the Performance Rankings (PR) of the Morningstar Small Cap style sectors take up three of the top four positions. Next week we get the Fed minutes on Tuesday, and then Inflation and GDP numbers on Wednesday. On Thursday the markets will be closed for Thanksgiving, and then an early close on Friday. For TSP TIPS the S fund took the spotlight as it hit two new all-time highs on Thursday and Friday, gaining 5.38% for the week. It also increased its lead over the C fund and remains at the top of the TSP PR leaderboard. As such, we recommend no changes to our current investment mix. Lastly, we wish everyone a very Happy Thanksgiving!!
Nvidia (NVDA) and Bitcoin (BTC) made the headlines this week, but the S&P 500 consistently marched higher each day and closed Friday at 5,969. On Monday and Tuesday the S&P 500 gained about 0.4% both days, and on Wednesday it did squeak out a 0.13 point gain as the markets awaited NVDA earnings report after the bell. While they did beat estimates, the stock was down in after-hours trading and fell lower by weeks end. That said, Wednesday was also a tough day for Target (TGT) as it had its worst day in two years, down 21%. On Thursday and Friday we saw Bitcoin climbing higher, topping out just shy of the $100K level. Staying with the crypto theme, check out the recent performance of MicroStrategy (MSTR). We also saw a big rotation into small cap with the Russell 2000 climbing 1.8% in Fridays session, finishing the week up about 4.5%. From a technical perspective, the Performance Rankings (PR) of the Morningstar Small Cap style sectors take up three of the top four positions. Next week we get the Fed minutes on Tuesday, and then Inflation and GDP numbers on Wednesday. On Thursday the markets will be closed for Thanksgiving, and then an early close on Friday. For TSP TIPS the S fund took the spotlight as it hit two new all-time highs on Thursday and Friday, gaining 5.38% for the week. It also increased its lead over the C fund and remains at the top of the TSP PR leaderboard. As such, we recommend no changes to our current investment mix. Lastly, we wish everyone a very Happy Thanksgiving!!