The S&P 500 made it back-to-back up weeks, closing Friday at 6,000 and regaining that key level for the first time since 21 February. On Monday the S&P 500 started off on a down note, but clawed its way back up to a gain of about 0.4%. On Tuesday the S&P 500 tacked on another gain of about 0.5% as investors have become more bullish as tariff talks and negotiations seem have flattened out. That said, Nvidia (NVDA) rose nearly 3%, surpassing Microsoft (MSFT) to become the worlds most valuable public company. On Wednesday the S&P 500 took a breather and was flat with an up move of less than 1 point. And then came Thursday with the battle of the billionaires and the war of words shaving $152 billion off of Teslas (TSLA) market cap for its biggest-ever hit. And to top that, Microsoft (MSFT) regained its position as the worlds most valuable public company. Before Fridays open the Bureau of Labor Statistics reported that payrolls climbed 139,000 in May, above the forecast of 125,000, and the unemployment rate unchanged at 4.2%. The S&P 500 gapped up at the open and shot up to its intraday high of 6,016 in the first 15 minutes, and remained hovering around that level for the rest of the day before closing with a daily gain of over 1%. From a technical perspective the S&P 500 has ratcheted itself higher since its 8 April closing low of 4,982. Since then, its been two steps forward, one step back, with six weeks up, three weeks down for that same 2:1 ratio and a gain of just above 1,000 points. Last week we mentioned that Which brings us to the next three weeks with the payrolls and unemployment reports on (last) Friday, inflation numbers (this week on Wednesday and Thursday), and then the Fed Interest Rate decision the week (after) on Wednesday 18 June. We also mentioned that we could then break out with a gain of 4% and be knocking at the door of a new S&P 500 record. That record would be a close at or above 6,144, or a gain of 2.4% from here. So lets revisit that 2:1 ratio scenario. Over those nine weeks the total gain was 20.42%, for an average weekly gain of 2.27%, i.e. knocking at the door. For TSP TIPS the I fund remains at the top of the Performance Ranking (PR) leaderboard while making new record highs every day this week except for Tuesday. And not to be forgotten, that PR and Composite Score gap between the C and S funds continues to narrow. As such, we will continue to monitor market conditions and make reallocation recommendations when warranted.
The S&P 500 made it back-to-back up weeks, closing Friday at 6,000 and regaining that key level for the first time since 21 February. On Monday the S&P 500 started off on a down note, but clawed its way back up to a gain of about 0.4%. On Tuesday the S&P 500 tacked on another gain of about 0.5% as investors have become more bullish as tariff talks and negotiations seem have flattened out. That said, Nvidia (NVDA) rose nearly 3%, surpassing Microsoft (MSFT) to become the worlds most valuable public company. On Wednesday the S&P 500 took a breather and was flat with an up move of less than 1 point. And then came Thursday with the battle of the billionaires and the war of words shaving $152 billion off of Teslas (TSLA) market cap for its biggest-ever hit. And to top that, Microsoft (MSFT) regained its position as the worlds most valuable public company. Before Fridays open the Bureau of Labor Statistics reported that payrolls climbed 139,000 in May, above the forecast of 125,000, and the unemployment rate unchanged at 4.2%. The S&P 500 gapped up at the open and shot up to its intraday high of 6,016 in the first 15 minutes, and remained hovering around that level for the rest of the day before closing with a daily gain of over 1%. From a technical perspective the S&P 500 has ratcheted itself higher since its 8 April closing low of 4,982. Since then, its been two steps forward, one step back, with six weeks up, three weeks down for that same 2:1 ratio and a gain of just above 1,000 points. Last week we mentioned that Which brings us to the next three weeks with the payrolls and unemployment reports on (last) Friday, inflation numbers (this week on Wednesday and Thursday), and then the Fed Interest Rate decision the week (after) on Wednesday 18 June. We also mentioned that we could then break out with a gain of 4% and be knocking at the door of a new S&P 500 record. That record would be a close at or above 6,144, or a gain of 2.4% from here. So lets revisit that 2:1 ratio scenario. Over those nine weeks the total gain was 20.42%, for an average weekly gain of 2.27%, i.e. knocking at the door. For TSP TIPS the I fund remains at the top of the Performance Ranking (PR) leaderboard while making new record highs every day this week except for Tuesday. And not to be forgotten, that PR and Composite Score gap between the C and S funds continues to narrow. As such, we will continue to monitor market conditions and make reallocation recommendations when warranted.