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GLD

SPDR Gold Shares

https://www.spdrgoldshares.com/usa/

Industry

Asset Management

The Trust holds gold bars and from time to time, issues Baskets in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Sponsor believes that, for many investors, the Shares represent a cost-effective investment in gold.

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The Federal Reserve has increased the key overnight interest rate by 25 basis points.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 6:00 pm

US stock futures indicate a shaky start on Wednesday due to mixed tech earnings and anticipation of the Federal Reserve's rate decision. Positive consumer confidence data led to a mostly higher close on Tuesday, with the Dow Industrials extending its winning streak to 12 sessions. Analyst John Lynch expects the Fed to adopt a 'wait-and-see' approach on additional rate increases. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell. Snap shares plummeted about 20% after issuing lackluster guidance, while Microsoft fell about 3.70% and Alphabet rose 6.64% in reaction to their respective quarterly results.

Portfolio Pulse from Shanthi Rexaline

July 26, 2023 | 10:48 am

Investors are awaiting the Federal Open Market Committee (FOMC) meeting’s interest rate decision, which is expected to have a significant impact on the market. The market has already priced in a 25-basis-point rate hike. A hawkish attitude from Fed Chair Jerome Powell would likely catch markets off guard, while a dovish stance might solidify existing market expectations. Five major ETFs that are likely to see significant activity in reaction to the Fed interest rate decision are Invesco DB USD Index Bullish Fund ETF (UUP), iShares 20+ Year Treasury Bond ETF (TLT), SPDR Gold Trust (GLD), iShares Russell 1000 Growth ETF (IWF), and ProShares Trust VIX Short-Term Futures ETF (VIXY).

Portfolio Pulse from Piero Cingari

July 25, 2023 | 4:20 pm

US stocks are expected to start the week positively, driven by anticipation of tech earnings. The market has already factored in a 25 basis point hike from the Federal Reserve. Last week saw positive market performance from blue-chip and small-cap stocks, while tech stocks experienced turbulence due to earnings reports from Tesla and Netflix. The upcoming week is expected to be dictated by tech earnings, with Microsoft, Alphabet, and Meta Platforms being key. In premarket trading, the SPDR S&P 500 ETF Trust rose 0.24% and the Invesco QQQ ETF gained 0.29%.

Portfolio Pulse from Shanthi Rexaline

July 24, 2023 | 10:35 am

Stock futures suggest a positive start to the week's final trading session, reflecting optimism for positive earnings reports from AI-levered big techs. However, caution is expected due to the upcoming Fed meeting and its commentary on the rate outlook. The tech slump on Thursday, driven by negative reactions to earnings from Tesla, Taiwan Semiconductor Manufacturing Company, and Netflix, dragged the Nasdaq Composite Index lower. The Dow Industrials continued to push higher, closing at nearly an 18-month high. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained. Tesla rebounded from Thursday's slide, while Xirius SM Holdings fell after its rally on Thursday.

Portfolio Pulse from Shanthi Rexaline

July 21, 2023 | 11:19 am

Mining analyst Taylor McKenna from Key Investor discussed names to own in gold mining during a Benzinga virtual event. The SPDR Gold Shares (GLD) ETF may have been mentioned.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 3:35 pm

The number of Americans applying for unemployment benefits was lower than anticipated last week, indicating the strength of the U.S. labor market. However, investors expect the Federal Reserve to conclude its tightening cycle after hiking for the last time next week. Futures on the S&P 500 Index and the Nasdaq 100 Index were in the red due to disappointing earnings reports from Tesla Inc. and Netflix Inc. The U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF, was 0.2% higher, while gold, tracked by the SPDR Gold Trust, ticked 0.1% lower.

Portfolio Pulse from Piero Cingari

July 20, 2023 | 12:49 pm

The market mood is mixed with blue chips and small-caps maintaining upward momentum, but negative reactions to earnings could test the tech sector's resilience. The Nasdaq Composite Index closed marginally higher, while the Dow Industrials marked its eighth straight session of gains. Analysts predict the rally will continue until problems appear in earnings reports. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained. Tesla and Netflix shares fell following their quarterly results release. Discover Financial Services shares plunged after the company paused buybacks and disclosed regulatory scrutiny.

Portfolio Pulse from Shanthi Rexaline

July 20, 2023 | 11:11 am

The stock market is expected to start cautiously on Wednesday, with earnings likely to be the main driver. Stocks such as Nvidia Corp. (NYSE:NVDA), Microsoft Corp. (NASDAQ:MSFT), Morgan Stanley (NYSE:MS), and Bank of America Corp. (NYSE:BAC) have been gaining momentum. The Dow Industrials is on a seven-session winning streak, and the Nasdaq Composite and the S&P 500 indices have risen to over 15-month highs. Analysts suggest that earnings need to perform well to sustain the rally. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.08% and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.24%. Companies such as Baker Hughes Co. (NASDAQ:BKR), Carvana Co. (NASDAQ:CVNA), Goldman Sachs Group, Inc. (NYSE:GS), Halliburton Co. (NYSE:HAL), Nasdaq, Inc. (NASDAQ:NDAQ), Northern Trust Corp. (NASDAQ:NTRS), U.S. Bancorp. (NYSE:USB), Netflix, Inc. (NASDAQ:NFLX), and Tesla, Inc. (NASDAQ:TSLA) are set to report their earnings.

Portfolio Pulse from Shanthi Rexaline

July 19, 2023 | 10:23 am

Citi predicts that gold prices could potentially reach new records of $2,150 at some point in the first half of 2024, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 5:24 pm

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