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Stocks were mixed on Friday as the Dow gained 10-points and small caps inched up 0.11% while the S&P and Nasdaq saw minor losses. Geopolitical events may be shaking things up a bit but as we have been saying for a few days now, stocks need some kind of pause to regroup and establish some basing and support.
Stocks continued the rally triggered by last Friday's jobs report into this week . The market flattened out Wednesday which was then followed by a gap up Thursday. The tragic news concerning Nice, France was followed by some profit taking Friday, filling the open gap produced Thursday.
With stocks up, bonds were down giving the F-fund the only negative return for the TSP funds. The I-fund led with more than a 3% gain for the week.
Stocks were up sharply again on Thursday with large cap stocks leading the way. The Dow gained 134-point on the day while small caps saw more modest gains. The Bank of England did not cut interest rates saying they will delay it until August, and the market seemed to be good with that as investors opted for stocks over the low yields we're seeing around the world.
Stocks were mixed yesterday as we saw several reversals from Tuesday's Goldilocks day that we talked about in yesterday's commentary. The Dow gained 24-points, the S&P 500 was flat, while the Nasdaq and small caps were down modestly. With stocks closing somewhere between the intraday highs and the intraday low, it tells us that there is some profit taking going on, but also dip buying.
Stocks rallied again on Tuesday as the Dow gained another 121-points on the day. It was a goldilocks kind of day as the bulls saw all the right things moving higher, while the things the bulls would want to see move lower, did. Small caps and the Transports led the U.S. stocks again, and the beaten down I-fund is bouncing back strongly.