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The Closing Bell: Wall Street Indexes Scale Fresh Record-Highs On Tech Gains
FYI: The three main U.S. indexes climbed to fresh record-highs for the fourth day in a row on Thursday, fueled by gains in technology stocks, including Microsoft (MSFT.O) and Amazon.com (AMZN.O).
"The S&P 500 Index advanced 0.6 percent to a record 2,552.07 at 4 p.m. New York Time. The Dow Jones Industrial Average added 114 points to 22,755, rising for the seventh day in a row to a record. The Nasdaq 100 Stock Index rose 1 percent to 6,057. The Stoxx Europe 600 Index gained 0.2 percent after falling as much as 0.3 percent. Spain’s IBEX Index rose 2.5 percent, the most since in almost six months."
Pretty numbers. But my benchmark, TRRIX (a conservative 40/60 fund for old farts) was flat. My holdings did slightly better at +.07%. Nothing I hold was particularily strong. OAKBX (+.35%) has been running slightly ahead of the pack in recent days (perhaps on it's GM stake?)
What gives? a 100+ point rise in the Dow and my allocation fund didn't budge a bit. Guess bonds gave up a little, but nothing dramatic. (Donald's remarks hurt munis.)
Strange markets.
Edit: Mystery solved. The fund was late posting its day's results. Actually, TRRIX did gain a couple cents (+.13%) for the day. I'd forgotten that these types of allocation funds are sometimes late due the large number of different funds they invest in. If just one of those comes in late it affects the posting of nav for the allocation fund.
Comments
From today's summary:
"The S&P 500 Index advanced 0.6 percent to a record 2,552.07 at 4 p.m. New York Time.
The Dow Jones Industrial Average added 114 points to 22,755, rising for the seventh day in a row to a record. The Nasdaq 100 Stock Index rose 1 percent to 6,057. The Stoxx Europe 600 Index gained 0.2 percent after falling as much as 0.3 percent. Spain’s IBEX Index rose 2.5 percent, the most since in almost six months."
Pretty numbers. But my benchmark, TRRIX (a conservative 40/60 fund for old farts) was flat. My holdings did slightly better at +.07%. Nothing I hold was particularily strong. OAKBX (+.35%) has been running slightly ahead of the pack in recent days (perhaps on it's GM stake?)
What gives? a 100+ point rise in the Dow and my allocation fund didn't budge a bit. Guess bonds gave up a little, but nothing dramatic. (Donald's remarks hurt munis.)
Strange markets.
Edit: Mystery solved. The fund was late posting its day's results. Actually, TRRIX did gain a couple cents (+.13%) for the day. I'd forgotten that these types of allocation funds are sometimes late due the large number of different funds they invest in. If just one of those comes in late it affects the posting of nav for the allocation fund.
Still, weird markets I think.