Last Look Report

The Last Look Report

Stocks opened higher today following the release of the May Consumer Price Index. The year-over-year increase in prices was less than it was in April, and the market is celebrating.

Lower inflation numbers may give way to the Fed cutting rates in their September meeting. The FOMC is finishing up their latest meeting today and the market does not expect a change in rates but does expect a language change. They come out with their policy statement at 2PM ET, so the market's ride may have more to come.

So far, today's greatest gain is coming from the small cap index DWCPF (S-fund) with its 2.3% gain in the ealy trading.

TSP Talk AutoTracker Members

With this spike in prices this morning, I am surprised to not see more profit taking across the TSP Talk AutoTracker. Instead, we have three members leaving the G-fund and chasing these now more expensive stock funds.

That includes joblin20, a top 100 member who moved to the G-fund at the beginning of June.

A fourth member is taking some profits, but those profits are from the F-fund which is also on track for gains today.

Fund Morning Performance

30 minutes before the TSP trade deadline:

The S&P 500 (C-fund) is up 1.2%

The DWCPF (S-fund) is up 2.3%

The ETF EFA (I-fund) is up 1.7%.

The bond ETF BND (F-fund) is up 0.9%

Click Here For Real Time Quotes of the C, S, I, and F-fund Tracking Indices.

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Today's Headlines

Inflation Eased Slightly to 3.3% in May, Lower Than Expected - U.S. inflation slowed in May, an ease in price pressures that should boost the likelihood of interest-rate cuts by the Federal Reserve later this year.

Fed starting to cut rates in September is back on table after softer CPI print - The May figures could set the stage for a potential reduction in interest rates as early as September, provided that the trend continues in the upcoming months. However, the Fed would require more substantial evidence of sustained progress to proceed with a rate cut

Dollar drops on softer than expected May inflation - The dollar tumbled on Wednesday after data showed that consumer prices in May rose less than economists expected, adding to bets that the Federal Reserve may begin cutting interest rates as soon as September. This eases the pressure the dollar has been putting on the I-fund since Friday's Jobs Report.

More News

Forum Posts

tsptalk's Market Talk - The market is experiencing sharp changes to its charts. It is a product of the lower CPI shifting rate cut expectations to sooner over later.

JTH's Account Talk - Typically when the S&P 500 gaps down at the open, and the IFT-Cuttoff is below the previous day's close, the index will close down roughly 80% of the time. On Tuesday we went against what's "typical" and closed the session positive.

C Fund vs. S Fund - Some great input from JTH and FireWeatherMet about investing between the C and the S-funds. One prefers to diversify between the two, the other sees one of the funds as the obvious choice.

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This newsletter was written by Thomas A Crowley (tommyiv). You can email me at tommy@tsptalk for any feedback or questions.

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