TSP Talk Blog

TommyIV is off this weekend so I am filling in with a brief Wrap Up of the wild week we had. I will have more in depth analysis in Monday's daily Market Commentary.

Optimism over a debt ceiling deal started about mid-week when The House passed a spending bill. The Senate then approved it and passed it on to the White House for signing. The indices had been coiling in a range for weeks and on Friday morning we got a Goldilocks jobs report and that helped push a lot of the sideline money into stocks as several indices blasted off to either new 2023 highs, and / or above key resistance and moving averages.

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Here's the 4-day chart of the holiday shortened week of trading. After a flat day on Tuesday and a sell of Wednesday, it took until Thursday before the S&P 500 moved into positive territory, and Friday's rally moved all the TSP stock funds into the green for the week.




Here are the weekly, monthly, and annual TSP fund returns for the week ending June 2:





The C-fund finally broke out of a long trading range after several back and forth fake outs in recent weeks. The debt ceiling debate was holding it back and the question about the Fed's intentions with interest rates during their upcoming June meeting may have been made more clear when the unemployment rate moved up higher than expected giving them some dovish fodder to hold them steady. The probability of a 0.25% hike went from 65% a week ago, to just 25% after Friday, so the bulls were celebrating a few positive catalysts this past week.




For the first time in a while the broader market indices were playing along so it was not just big tech doing all the lifting. The small caps of the S-fund gained a whopping 3% on Friday, and that pushed it above some key resistance levels, although it is a long way from new 2023 highs.

You can more on this in our daily market commentary at the Market Comments page on Monday.

Good luck and thanks for reading. TommyIV will be back here next week with another TSP Wrap Up. If you need more help deciding what to do with your account, perhaps one of our Premium Services can help.


Tom Crowley
www.tsptalk.com
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