The S&P 500 made it three consecutive up weeks as it closed Friday at 6,840. On Monday the bull shot right out of the gate as it gapped up at the open, crossing above the 6,800 level for the first time ever. Investors cheered cooling tensions between the U.S. and China in anticipation of the Trump/Xi meeting, and the S&P 500, NASDAQ 100 and Russell 2000 Small Cap all set record highs. Mondays S&P 500s daily gain of over one percent was followed by a back-to-back record high on Tuesday as the diplomacy factor warmed up the markets. On Wednesday the wait was over as the Fed announced an interest rate cut, however the markets sold off except for Nvidia (NVDA) as it closed above the $5 trillion market cap mark, becoming the first company in history to cross that level. After NVDA took a bow, Megacap tech giants Alphabet, Meta and Microsoft each reported quarterly results. As such, Thursdays trading saw Google parent Alphabet shares popping about 9% on the back of strong results. But shares of Meta tumbled about 9% for its worst day in three years, and Microsoft was down nearly 2%, which led to the S&P 500 having its only down day on the week with a nearly 1% loss. After Thursdays close Amazon and Apples earnings reports came out positive. As such Fridays trading saw Amazon shares rallying more than 10% and the S&P 500 scoring that three week up run. From a technical perspective, Friday also marked the end of October, and the S&P 500 has now been up for five months in a row for its longest win streak since August 2021. So, let the trend be our friend!! For TSP TIPS we moved to 100% in equities on Monday and all three individual equity funds (C/S/I) hit new highs this week. With Composite Scores of 100 we recommend no changes to our current investment mix.
The S&P 500 made it three consecutive up weeks as it closed Friday at 6,840. On Monday the bull shot right out of the gate as it gapped up at the open, crossing above the 6,800 level for the first time ever. Investors cheered cooling tensions between the U.S. and China in anticipation of the Trump/Xi meeting, and the S&P 500, NASDAQ 100 and Russell 2000 Small Cap all set record highs. Mondays S&P 500s daily gain of over one percent was followed by a back-to-back record high on Tuesday as the diplomacy factor warmed up the markets. On Wednesday the wait was over as the Fed announced an interest rate cut, however the markets sold off except for Nvidia (NVDA) as it closed above the $5 trillion market cap mark, becoming the first company in history to cross that level. After NVDA took a bow, Megacap tech giants Alphabet, Meta and Microsoft each reported quarterly results. As such, Thursdays trading saw Google parent Alphabet shares popping about 9% on the back of strong results. But shares of Meta tumbled about 9% for its worst day in three years, and Microsoft was down nearly 2%, which led to the S&P 500 having its only down day on the week with a nearly 1% loss. After Thursdays close Amazon and Apples earnings reports came out positive. As such Fridays trading saw Amazon shares rallying more than 10% and the S&P 500 scoring that three week up run. From a technical perspective, Friday also marked the end of October, and the S&P 500 has now been up for five months in a row for its longest win streak since August 2021. So, let the trend be our friend!! For TSP TIPS we moved to 100% in equities on Monday and all three individual equity funds (C/S/I) hit new highs this week. With Composite Scores of 100 we recommend no changes to our current investment mix.