As we close out November the S&P 500 stands at a new all-time high of 6,032. In a holiday shortened week, Monday started out on a positive note as the markets moved higher. On Tuesday we got the Fed minutes which stated that inflation is subsiding while the labor market remains robust, supporting the possibility of further interest rate cuts. As such, the markets rallied into the close with the S&P 500 at a new record high. On Wednesday volume was light as many people left the office early, and the S&P 500 faded below the 6,000 level. We hope everyone enjoyed Thanksgiving with friends and family, but then we rolled into Black Friday. The S&P 500 opened back above the 6,000 level and from there marched higher in a shortened trading day, making its second record high of the week. From a technical perspective, an impetus for this weeks bullishness was the result of decreasing interest rates, with the 10-year treasury note falling from 4.410% last Friday to 4.242% this Friday. On a monthly basis, November marked the best month of 2024 for both the Dow and S&P 500. But the spotlight was on the small cap-focused Russell 2000, which surged 10.8%. On Monday we kick off December and with a historical gain of 1.25%, it comes in as the second strongest month of the year. On Wednesday we hear from Fed Chair Powell followed by the monthly employment reports before Fridays open. For TSP TIPS both the S and C funds remain maxed out with Composite Scores of 100. Carrying over from last Thursday and Friday, the S fund made it three record highs in a row on Monday. The record torch was then passed to the C fund, making new highs on Tuesday and Friday. But as we closed the week out, the S fund remains at the top of the Performance Ranking leaderboard with the C fund in second place. As such we recommend no changes to our current investment mix.
As we close out November the S&P 500 stands at a new all-time high of 6,032. In a holiday shortened week, Monday started out on a positive note as the markets moved higher. On Tuesday we got the Fed minutes which stated that inflation is subsiding while the labor market remains robust, supporting the possibility of further interest rate cuts. As such, the markets rallied into the close with the S&P 500 at a new record high. On Wednesday volume was light as many people left the office early, and the S&P 500 faded below the 6,000 level. We hope everyone enjoyed Thanksgiving with friends and family, but then we rolled into Black Friday. The S&P 500 opened back above the 6,000 level and from there marched higher in a shortened trading day, making its second record high of the week. From a technical perspective, an impetus for this weeks bullishness was the result of decreasing interest rates, with the 10-year treasury note falling from 4.410% last Friday to 4.242% this Friday. On a monthly basis, November marked the best month of 2024 for both the Dow and S&P 500. But the spotlight was on the small cap-focused Russell 2000, which surged 10.8%. On Monday we kick off December and with a historical gain of 1.25%, it comes in as the second strongest month of the year. On Wednesday we hear from Fed Chair Powell followed by the monthly employment reports before Fridays open. For TSP TIPS both the S and C funds remain maxed out with Composite Scores of 100. Carrying over from last Thursday and Friday, the S fund made it three record highs in a row on Monday. The record torch was then passed to the C fund, making new highs on Tuesday and Friday. But as we closed the week out, the S fund remains at the top of the Performance Ranking leaderboard with the C fund in second place. As such we recommend no changes to our current investment mix.