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Petition to Increase # of Interfund Transfers!
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Stocks were up this week as the bulls were persuaded with strong economic data and faith in new upcoming tax policy to spark economic growth. Though we've been getting use to gains in stocks the past few months, this week we saw an acceleration in that gains. Traders following the momentum have been successful but others fear this relentless upside gives less support when the indices do finally decide to pull back.
All the TSP funds were up this week with the exception on the 0.01%
Stocks spent most of the day on Thursdays with modestly negative returns but rallied into the close to end the day mixed and nearly flat. The S&P was down for the first time in 8 days while the Nasdaq 100 (QQQ) was down for the first time in 10, if you want to call -0.03% a loss. The Dow was up 8-points so that's 6 positive days in a row.
Stocks opened lower again on Wednesday but it didn't take long for that to turnaround, and more comments from President Trump about his new tax plan sent stock flying into the afternoon with solid gains and new highs across the board.
Stocks opened on the downside on Tuesday but immediately caught a bid and after the magic of a Janet Yellen congressional hearing, stocks accelerated to the upside closing at the highs of the day with the Dow, S&P, Nasdaq, and Russell 2000 all closing at another all-time high.
Stocks rallied again on Monday as the change in economic growth perception has investors racing into the market. Percentage-wise is was a good day as we saw 0.5% gain in the S&P and Nasdaq, while small caps added about half of that. The Dow was up a bit more percentage-wise jumping 143-points.
Triple digit gains are welcomed by investors and can get those emotional juices flowing, but they aren't what they used to be. Eight years ago a 100-point gain in the Dow was gain of 1.42%.