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Stocks opened higher on Monday, opening a new gap on the charts, but we did see some deterioration as the day went on. The indices closed with decent gains although the 129-point early gain in the Dow turned into a 77-point gain by the close. The Nasdaq led with a 1% gain, closing at the highs as big tech stocks are leading the way.
Stocks were mixed on Friday with the Dow shedding 17-points, the S&P and small caps were basically flat, and the Nasdaq was up thanks to some positive tech earnings. But for the first time in a while we saw stocks open weakly and close strong. Is this a sign of life for a market that has been rather sluggish over the last two-months?
Better than expected earnings reports from some big names, such as Netflix and Microsoft, gave stocks the juice to end the week in positive territory. The gains were modest, around 0.5% for TSP stock funds, but its the first positive week in October. This is good if you were in stock TSP funds for the week but still frustrating for those looking for a trend in the markets. It does seem as though stock indices are not acting in a very bull market like manner, but the outperformance of big name stocks
Stocks bounced around quite a bit on Thursday, although the range was on the tight side, but we see that's there's a lot of indecision out there. The Dow ended the day down 40-points with minimal to modest losses across the board.
After the close Microsoft posted a big earnings report and in after hours trading it moved up to a level not seen since 1999. The Nasdaq futures jumped in sympathy because of its exposure to tech stocks, but the S&P
Once again we saw the indices fade into the close after some solid gains earlier in the day, but for a second day they held onto some of those gains despite the afternoon selling. It doesn't make for very bullish short-term charts, but it does still add to the Fund returns. The Dow gained 41-points.