Daily Market Commentary

For TSP'ers, this may be one of the toughest years to decide which fund to be in. Historically when one of the stock funds went up, the others went up as well, but maybe not to the same degree. This year we've been big differences in the daily, weekly, and months gains between the C, S, and I funds making it a meaningful and consequential choice. Yesterday was another good example with the S-fund gaining over 1% on the day, while the C and I funds lost 0.51% and 0.63% respectively, after a late ...

Stocks sold off yesterday with the S&P 500 having its worst day since late 2022, and it had been 356 trading days since the last 2% loss. The Dow was down 500-points, which was only half the loss percentage-wise, but it was the big tech Nasdaq that was hurt the most with a painful 3.64% decline. Small caps tried to hold up but eventually fell in sympathy with tech.

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Stocks were mixed and choppy on Tuesday and that's 3 losses in the last 4 days for the S&P 500, but small caps managed another decent gain. The I-fund lagged with the dollar up again, and bonds were basically flat despite a dip in yields. The large caps are getting a little weak in the knees as we enter earrings season for the S&P 500 and Nasdaq leaders, and it wasn't a good start last night.

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Stocks rallied broadly on Monday as the indices try to make up some of the ground they lost last week. The Mag 7 stocks were all up solidly, but so were the small caps so it was a broad rally and not so much rotation. The I-fund also had a good day, while bonds were down slightly after a move up in yields. The departure of President Biden from the 2024 race makes things interesting as may be changing the election year seasonality chart, which was very favorable.

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It was quite a volatile week for the stock market last week despite most of the news being non-market related. We came into the week after an assassination attempt on a former president and current presidential candidate. We also had ongoing rumors, which are no longer rumors, that the incumbent president was contemplating dropping out of the 2024 race (and since has.) And if that wasn't enough there was a faulty update from Crowdstrike that took down millions of PCs and related technology that ...