TSP Talk Blog

Stocks were down early but battled back and ended the day rather flat and mixed with the Dow picking up 7-points, the S&P 500 slipping 2, and the Nasdaq was down 12. Small caps lagged a bit as we saw yields moving up (bonds down), and the dollar rebounded adding a little pressure to the I-fund.

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Stocks opened higher on Wednesday and quietly built on the gains until we had some big numbers and the S&P 500 was pushing above some serious resistance. That's about when President Trump announced the grounding of Boeing's 737 and we saw some selling and a pull back into the close. Still, the Dow was able to gain 148-points on the day and Boeing, which was down hard again after the announcement, rallied back to close slightly higher on the day.

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Stocks were mixed on Tuesday with most of the broader indices tacking on modest gains, but the Dow was down 96-points because of continued selling in Boeing's stocks following the tragic crash over the weekend. That is also negatively impacted the Transportation Index. Internally there were 630 more stocks up than down on the day, and even in the Dow it was 2 stocks up for every 1 that was down despite the loss.

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Stocks rallied out of the gate on Monday after more dovish comments from Fed Chairman Jerome Powell over the weekend. The Dow lagged percentage-wise because of Boeing's stock dropping, but still gained 201-points on the day after being down 240+ near the open. Tech and the Nasdaq led and the Transports finally broke its 11-day losing streak.

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Stocks ended the week on Friday with a 5th straight day of losses, and in the case of the S&P 500, an 8th day of losses in the last nine. It was also just the 2nd Friday in 2019 that was not positive. The Dow lost 23-points, but if you watched the market during the day you know that it climbed back from the much steeper losses at the opening bell so, despite the loss, it's debatable who won the day - the bulls or the bears.

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