The S&P 500 had a nice week as it closed at a record high of 7,230 on Friday, and it was a week of Mag 7 earnings anticipation. On Monday the S&P 500 had a slight gain, but it was good enough to make it back-to-back record days when included the previous Friday. On Tuesday we gave back those gains, and on Wednesday Fed Chairman Powell made his last appearance in that role as the Fed held rates steady, and the S&P 500 was steady with a slight loss of three points. After the bell those Mag7 earnings came in with a mixed picture, leading to Meta and Microsoft losing 9% and 2%, respectively on Thursday. However, that was not enough to hold back the bull as the S&P 500 had a daily gain of over 1% which pushed it to a new record high. It also marked the end of April with the S&P 500 having its strongest monthly performance since April 2020s COVID rebound. On Friday that upward move continued with the S&P 500 making it another pair of back-to-back record days. From a technical perspective, we now have four straight weeks of higher highs and higher lows, or a nice bullish run. For next week earnings season continues, but the big event will be Fridays employment and payrolls numbers. For TSP TIPS the situation remains similar to last week. The C fund mirrored the S&P 500 and hit new highs on Monday, Thursday and Friday. The S and I fund were both blanked out, still sitting just shy of a new records. All three funds remain with Composite Scores of 100, and the I fund continues to lead in Performance Rankings (PR) race as all three have closed that gap is less than 1%. All three funds had 1% gains on Thursday and again, theres a strong probability of a new investment mix next week so stand by.
The S&P 500 had a nice week as it closed at a record high of 7,230 on Friday, and it was a week of Mag 7 earnings anticipation. On Monday the S&P 500 had a slight gain, but it was good enough to make it back-to-back record days when included the previous Friday. On Tuesday we gave back those gains, and on Wednesday Fed Chairman Powell made his last appearance in that role as the Fed held rates steady, and the S&P 500 was steady with a slight loss of three points. After the bell those Mag7 earnings came in with a mixed picture, leading to Meta and Microsoft losing 9% and 2%, respectively on Thursday. However, that was not enough to hold back the bull as the S&P 500 had a daily gain of over 1% which pushed it to a new record high. It also marked the end of April with the S&P 500 having its strongest monthly performance since April 2020s COVID rebound. On Friday that upward move continued with the S&P 500 making it another pair of back-to-back record days. From a technical perspective, we now have four straight weeks of higher highs and higher lows, or a nice bullish run. For next week earnings season continues, but the big event will be Fridays employment and payrolls numbers. For TSP TIPS the situation remains similar to last week. The C fund mirrored the S&P 500 and hit new highs on Monday, Thursday and Friday. The S and I fund were both blanked out, still sitting just shy of a new records. All three funds remain with Composite Scores of 100, and the I fund continues to lead in Performance Rankings (PR) race as all three have closed that gap is less than 1%. All three funds had 1% gains on Thursday and again, theres a strong probability of a new investment mix next week so stand by.