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Stocks bounced back on post-debate Tuesday after Monday's pre-debate sell-off. We did get a stronger than expected Consumer Confidence report that may have helped, but it was more emotional than that as we opined yesterday. The Dow ended the day with a gain of 133-points. The Nasdaq led while small caps lagged.
Stocks were pressured on Monday, possibly because it was leading up to the big presidential debate, and with the polls so close it could put one of the candidates in the lead for good. The Dow lost 167-points and we saw losses near 1% almost across the board, although the Transports showed some relative strength losing just 0.28%.
Stocks pulled back on Friday and filled some gaps left open after Thursday's rally. The Dow lost 131-points and the broader indices lost between 0.3% and 0.7%. Despite the losses, the C, S, and I TSP stock funds all had strong weeks gaining 1.2%, 2.2%, and 3.2% respectively, while the F-fund (bonds) gained 0.54%.
Stocks opened higher Monday and Tuesday but in each case those early gains were wiped out by close. Wednesday was a Fed day and investors celebrated their dovish decision to prolong any rate hikes. Stocks rallied into the close following the Fed statements which carried into Thursday's open. Stocks were down Friday but not enough to do any significant damage to the Wednesday and Thursday gains.
The C-fund was up more than 1% but the big news for the TSP funds was the 3.15% gain on
Stocks followed up on the Wednesday Fed rally with another rally on Tuesday. The Dow added 99-points, which was off the early highs. The uncertainty of a rate hike lifted for a while, and investors have taken that as a signal that it's OK to buy again.