Daily Market Commentary

Stocks continued their rebound off of Friday's lows yesterday and the TSP stock funds all gained over 1% on the day, with small caps adding closer to 2%. The Nasdaq was up 1.6% despite heading into beleaguered Tesla's earnings after the bell yesterday. Yields and the dollar were down yesterday helping take the pressure off stocks, but they remain in a range and that's good enough for investors right now.

...

Stocks opened higher on Monday with a gap up opening, which came within 2 points of closing within an hour or so, but the bulls bought that morning dip and it led to a nice comeback day for the stock market. It was an overdue, oversold, rebound but it held, and that's more than we could say for last week's action. The S&P 500 gained 43-points, but that was almost 30-point off the afternoon highs so we did see some late selling again - just not enough to spoil the bulls' rare April rally. ...

Stocks opened flat on Friday after a sharp overnight sell off in the futures had completely recovered by the opening bell. However, the selling pressure resumed once trading began. Big tech is taking the brunt of the selling as it took the Nasdaq and S&P 500 for a bearish ride. Meanwhile, away from big tech, the Dow, the Russell 2000 small caps, and the Transportation Index were all up on the day, so what has been leading on the way up, is lagging on the way down.

...

The Dow was up slightly on Thursday but the bleeding continued in the broader indices and the losing streak was extended. The losses were modest and fairly equal among the TSP stock funds. Yields and the dollar moved up, not helping the situation, and at this point, after a modest pullback, it's probably a matter of when investors are comfortable buying again with yields elevated and the Fed less dovish.

...

Wednesday was yet another day that started out on the positive side and ended in the red. The bulls made another attempt to buy weakness yesterday, but the bears were ready with another wave of selling into the close. The Dow was fairly flat but the broader indices were down more sharply despite yields pulling back for a change. The dollar was also down and that helped the I-fund lead the TSP funds yesterday.

...