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For the third day in a row, stocks opened higher, then lost the gains as the day wore on. The losses were not severe, but relative to the early gains, it was a bit harsh. The Dow lost just 9-points, but it had been up over 80 within an hour of the open. Small caps lagged, while the I-fund was down slightly, and the F-fund (bonds) also lost ground.
Stocks were mixed on Tuesday and they danced around quite a bit as the bulls and bears battled for position most of the day. The Dow ended the day down 31-points, about 44-points off the day's high, and 57-points above the low. The S&P 500 was basically flat losing 1-point, and the Nasdaq and small caps were up rather nicely.
Stocks opened on the downside on Friday, but that pre-holiday positive bias won out in the end and we saw green in all of the stock funds. The Dow gained 19-point but the broader indices saw larger gains percentage-wise, with small caps leading the way.
It was a wild pre-holiday week for stocks but many indices managed to close near their highs for the week. The geopolitical environment remains tense keeping investors on edge, and we got a stronger than expected GDP report on Thursday that had some folks worried it might get the Fed to start tightening their monetary policy. But the buyers stepped up quickly and the S&P 500 ended the week above 2000 for the first time.
TSP Talk Sentiment Survey results for the week of 09/02/14- 09/05/14
The TSP Talk Sentiment Survey came in at 45% bulls, 39% bears.
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