Here's a quick holiday abbreviated market commentary since the TSP is closed today and we can't make transactions even if we wanted to...
After a slightly negative open on Friday, stocks rallied most of the day and the indices closed near their highs. The Dow gained 11-points.
[TABLE="width: 80%, align: center"]
[TR]
[TD="width: 310"]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 170"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0063%[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:[/TD]
[TD="align: right"] +0.07%[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:[/TD]
[TD="align: right"] +0.63%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] +1.04%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] +0.28%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Some of you may have noticed that the I-fund was only up 0.28% on Friday and not the 0.95% that some websites are reporting. That's because the TSP changed their initially posted I-fund price of 24.0896 for Thursday, and made it 24.2489. So there was actually a gain of 1.82% on Thursday instead of the initially posted +1.15%. This affected the L-fund prices too since they contain some I-fund allocation. Thanks to our TSP Talk reader who brought it to my attention on Friday morning!
The S&P 500 (SPY) rallied again on Friday but the overnight futures are down after the folks in Washington failed to make a deal over the weekend.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
That open gap is ripe for being filled but because we saw such a strong rebound on just the rumor of a deal last week, I don't think there will be as much selling early this week as we saw early last week. There should be some fear of missing out on any rally if and when a deal is made, which of course could backfire.
Per TSP.gov: Some financial markets will be closed on Monday, October 14th in observance of the Columbus Day holiday. The Thrift Savings Plan will also be closed. Transactions that would have been processed Monday night (October 14th) will be processed Tuesday night (October 15th), at Tuesday's closing share prices.
Thanks for reading! We'll see you back here tomorrow.
Tom Crowley
Posted daily at TSP Talk Market Commentary
The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.
