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GLD

SPDR Gold Shares

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

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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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Constellation Brands Inc (NYSE:STZ), a Fortune 500 company and the largest beer import company in the US, reported better than expected Q1 results due to a more than 40% improvement in e-commerce direct to consumer sales. However, the company's growth is slowing down to a single-digit-percentage pace, joined by rising input costs. Constellation Brands also has a significant debt of $12.3 billion as of May 2023, which could become an issue if earnings continue to decline.

Portfolio Pulse from Upwallstreet

July 05, 2023 | 7:39 pm

US stocks are expected to open lower following the Independence Day holiday, with traders cautious due to major averages trading at multi-month highs. Despite a weak manufacturing reading, US stocks closed slightly higher on Monday. Noteworthy sector performances included advancements in consumer discretionary stocks, along with buying interest in utility, financial, real estate, and consumer staple stocks. However, healthcare and IT stocks experienced declines. Fundstrat's Tom Lee expects the S&P 500 Index to end the year at 4,825, up from his earlier estimate of 4,750. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) slipped 0.40% and the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.58%. Tesla, Inc. (NASDAQ:TSLA) fell about 0.80% in premarket trading, and big tech stocks such as Nvidia Corp. (NASDAQ:NVDA), Advanced Micro Devices, Inc. (NYSE:AMD), and Amazon.com Inc. (NASDAQ:AMZN) also moved to the downside.

Portfolio Pulse from Shanthi Rexaline

July 05, 2023 | 10:50 am

Gold prices underperformed in the first half of 2023, with the SPDR Gold Trust (GLD) up by 5%, compared to the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ) which were up by 16% and 38% respectively. However, the VanEck Gold Miners ETF (GDX) is trading at a significant discount, attracting value hunters. Large-cap gold miners included in the GDX, such as Newmont Corporation (NEM), Barrick Gold Corp. (GOLD), and Agnico Eagle Mines Limited (AEM), are showing attractive valuations according to common stock metrics.

Portfolio Pulse from Piero Cingari

July 03, 2023 | 8:46 pm

The US stock market is expected to open with caution due to recent strong gains and key events. Despite the Federal Reserve's indication of future rate hikes, the market closed the week, quarter, and half year with solid gains. Analyst Ryan Detrick predicts a strong run for the S&P 500 Index in the second half of the year. In premarket trading, SPDR S&P 500 ETF Trust (SPY) rose 0.14% and the Invesco QQQ ETF (QQQ) gained 0.29%. Tesla (TSLA) rose over 6% after reporting record Q2 deliveries. Digital World Acquisition Corp. (DWAC) gained over 3% amid Twitter's woes.

Portfolio Pulse from Shanthi Rexaline

July 03, 2023 | 11:01 am

Otavio Costa, a portfolio manager at Crescat Capital, disagrees with the idea that gold has lost its safe-haven appeal. He believes gold is in the early stages of re-emergence as a safe haven asset, especially given the high levels of global debt. Central banks have been increasing their gold reserves, with 1,136 tonnes added in 2022, the highest in records since 1950. The SPDR Gold Trust (GLD) and the iShares Gold Trust (IAU) both fell in the last five days.

Portfolio Pulse from Bhavik Nair

June 30, 2023 | 11:00 am

US stocks are set to finish the first half of the year on a high note, with bullish momentum expected to continue into the second half. The S&P 500 Index and the Dow Industrials ended Thursday's session moderately higher, while the Nasdaq Composite remained flat. Small-caps outperformed for a fourth straight session. In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.39% and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.49%. Nike (NYSE:NKE) fell over 3% in premarket trading following below-consensus quarterly results, while Carnival Corp. (NYSE:CCL) climbed over 3% after an upgrade from Jefferies.

Portfolio Pulse from Shanthi Rexaline

June 30, 2023 | 10:48 am

US stock futures indicate a positive start for Thursday as traders digest the Federal Reserve’s bank stress test results and strong earnings reports. The major averages ended Wednesday on a mixed note, with the Nasdaq Composite and Russell 2000 Index closing higher, while the Dow Industrials and S&P 500 Index retreated. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) rose. Stocks in focus include Virgin Galactic Holdings, Inc. (NYSE:SPCE), BlackBerry Ltd. (NYSE:BB), and Micron Technology, Inc. (NASDAQ:MU) due to their quarterly results.

Portfolio Pulse from Shanthi Rexaline

June 29, 2023 | 11:18 am

Stock futures indicate a mixed opening on Wall Street, with traders anticipating comments from Federal Reserve Chair Jerome Powell and the release of the Fed’s bank stress test results. The technology sector, particularly the chip industry, may face pressure amid reports of a U.S. ban on Chinese chips. Carson Group analyst Ryan Detrick remains optimistic about the near-term market outlook, advising to buy weakness. In premarket trading, the SPDR S&P 500 ETF Trust (SPY) fell 0.17% and the Invesco QQQ ETF (QQQ) slipped 0.36%. Nvidia Corp. (NVDA) and Advanced Micro Devices, Inc. (AMD) fell over 4% and 3%, respectively, following reports of the China chip ban.

Portfolio Pulse from Shanthi Rexaline

June 28, 2023 | 11:27 am

US stocks are expected to start the week with a negative bias after major indices snapped multi-week winning streaks on Friday. Analyst Ryan Detrick advises not to worry, as weakness in the third week of June is historically normal. In premarket trading, SPY and QQQ ETFs slipped, while TSLA, AAPL, SPCE, and CCL stocks are in focus.

Portfolio Pulse from Shanthi Rexaline

June 26, 2023 | 10:06 am

Gold prices edged higher during Monday's Asian trading session due to Russia's internal chaos and a soft dollar. However, gains were capped by concerns over extended rate hikes by the Federal Reserve and higher-than-expected inflation. The SPDR Gold Trust (NYSE:GLD) and the iShares Gold Trust (NYSE:IAU) both closed higher on Friday.

Portfolio Pulse from Bhavik Nair

June 26, 2023 | 4:30 am

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