The S&P 500 broke a string of two up weeks when it closed Friday at 6,259. Tariff talk dominated the news this week, with the landscape changing on an hourly basis. Monday started out with 14 countries receiving tariff letters. As such, the S&P 500 was down 0.8%, the biggest daily move this week, and from there we remained in a tight range over the next four sessions. On Tuesday tariff talk shifted from countries to commodities when a 50% levy on copper imports was announced. Wednesday was the first positive day of the week as optimism around the artificial intelligence trade sent Navdia shares nearly 2% higher to briefly become the first public company to be valued at $4 trillion. On Thursday investors shrugged off news of a 50% tariff on Brazil as the S&P 500 notched a new record. On Friday a 35% tariff on Canada was announced, and we closed out this tight week with a S&P 500 range of only 90 points. However, in other news, Bitcoin did make a new record high of $118,839 on Friday. On the technical side this tight S&P 500 range gave us a breather after a 5+% gain over the previous two weeks. And then next week we hopefully start another bullish run as earnings season begins, combined with inflation numbers mid-week. For TSP TIPS we remain 100% invested in all three models, but this weeks tight range has further narrowed the Performance Rankings between the three equity funds. As such we will remain with our current allocations while waiting for a fund break out. That said, in Mutual Fund Window TIPS we did see the ProFunds Bitcoin fund (BTCFX) break out on Wednesday, purchased it on Thursday, and closed Friday with a one-day gain of over 4%. Lastly, just a reminder about our Zoom Mid-Year Review at 1700 ET on Wednesday 16 July at https://us06web.zoom.us/j/84896194693?pwd=CWXTpaRDcuFao7NTj2oJKKr7zuDYrh.1;Meeting ID: 848 9619 4693, Passcode: 320207.
The S&P 500 broke a string of two up weeks when it closed Friday at 6,259. Tariff talk dominated the news this week, with the landscape changing on an hourly basis. Monday started out with 14 countries receiving tariff letters. As such, the S&P 500 was down 0.8%, the biggest daily move this week, and from there we remained in a tight range over the next four sessions. On Tuesday tariff talk shifted from countries to commodities when a 50% levy on copper imports was announced. Wednesday was the first positive day of the week as optimism around the artificial intelligence trade sent Navdia shares nearly 2% higher to briefly become the first public company to be valued at $4 trillion. On Thursday investors shrugged off news of a 50% tariff on Brazil as the S&P 500 notched a new record. On Friday a 35% tariff on Canada was announced, and we closed out this tight week with a S&P 500 range of only 90 points. However, in other news, Bitcoin did make a new record high of $118,839 on Friday. On the technical side this tight S&P 500 range gave us a breather after a 5+% gain over the previous two weeks. And then next week we hopefully start another bullish run as earnings season begins, combined with inflation numbers mid-week. For TSP TIPS we remain 100% invested in all three models, but this weeks tight range has further narrowed the Performance Rankings between the three equity funds. As such we will remain with our current allocations while waiting for a fund break out. That said, in Mutual Fund Window TIPS we did see the ProFunds Bitcoin fund (BTCFX) break out on Wednesday, purchased it on Thursday, and closed Friday with a one-day gain of over 4%. Lastly, just a reminder about our Zoom Mid-Year Review at 1700 ET on Wednesday 16 July at https://us06web.zoom.us/j/84896194693?pwd=CWXTpaRDcuFao7NTj2oJKKr7zuDYrh.1;Meeting ID: 848 9619 4693, Passcode: 320207.