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Stocks were mixed again on Tuesday with the Dow shedding 32-points, the S&P 500 was flat, and the the Nasdaq was up solidly. Small caps and the Transportation Index had big days. Biotech stocks have been doing well helping the Nasdaq while recent weakness in the price of oil has held back the Dow and S&P.
Stocks opened lower on Monday morning and the indices really couldn't get any traction during the day, closing near the lows. The Dow lost 76-points with a similar percentage loss in the S&P 500. The Nasdaq bucked the trend as large tech stocks had a strong day but if you look deeper you will see that about 6 stocks were down on the Nasdaq for every 4 that were up so the large caps strength may be masking some internal weakness.
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