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The media obsession with Dow 20,000 hit a frenzy on Friday as we came with 0.37 of hitting the milestone before peaking a dipping back some into the close. The large indices still ended the day with solid gains, the Dow added 65-points, while small caps were flat, and the I-fund was down because of a rally in the dollar.
The new year started off with gains across the board for the TSP funds. The TSP stock funds, C, S, and I, lead as they were all up more than 1.5% for the week. It seems big names are carrying the indices while the overall action may not be as positive as it seems. This does not matter right now for those in the TSP funds but gives us an idea about the actual strength of stocks.
The December Jobs report came out Friday with numbers lower than expectations; 156,000 jobs were added while
U.S. added 156,000 jobs last month, while jobless rate ticked up to 4.7%
Job Growth Slows in December; Wages Post Best Gain Since 2009 - WSJ
Stocks opened slightly lower on Thursday and the bears proceeded to put some pressure on until late morning when we saw some buying kicked in. The indices were mixed with the Dow ending the day down 43-points, the S&P 500 pushed back toward even, the Nasdaq posted a modest gain, while small caps were down sharply.
New years tend get off to a wild start and 2017 was no exception. We saw it all... A big gap up with a continued surge in the indices in very early trading. The Dow was up about 175-points within 30 minutes or so. By noon ET almost all of those gains were gone. It wasn't looking good but the selling dried up by the last 90-minutes of trading and we saw the indices rebound to close somewhere in between but close with solid gains.