Streetbeat News

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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PIMCO's Greg Sharenow believes gold is still expensive despite recent declines and may face further losses, but maintains long-term appeal. Gold is over-valued compared to inflation-linked government bonds, which are better valued for multi-asset portfolios. The SPDR Gold Trust (GLD) and the iShares Gold Trust (IAU) have gained over 6% since the beginning of the year.

Portfolio Pulse from Bhavik Nair

June 01, 2023 | 4:53 am

US stock futures indicate a weaker open on Wednesday due to uncertainty over the budget bill and non-farm payroll data. Analyst Gina Bolvin sees potential for stock outperformance this year despite volatility. In premarket trading, SPY and QQQ ETFs fell 0.20% and 0.19% respectively.

Portfolio Pulse from Shanthi Rexaline

May 31, 2023 | 10:59 am

Nasdaq futures soar on high hopes for a budget deal, with analysts predicting more gains for the rest of the year. Key factors to watch include the fate of the budget deal and the non-farm payroll report. Nvidia Corp.'s strong Q1 earnings report and optimism about the budget deal provided support last week.

Portfolio Pulse from Shanthi Rexaline

May 30, 2023 | 10:56 am

President Joe Biden and House Speaker Kevin McCarthy reached a tentative deal on the borrowing limit, causing oil prices to rise and gold prices to fall. The United States Brent Oil Fund (BNO) closed 1.21% higher, while the Vanguard Energy Index Fund ETF (VDE) lost 0.42%. Gold prices dropped with the SPDR Gold Trust (GLD) closing 0.4% higher and the iShares Gold Trust (IAU) gaining 0.44%.

Portfolio Pulse from Bhavik Nair

May 29, 2023 | 3:28 am

US stocks are set to open modestly higher as debt talks continue and the June 1 deadline for a potential default approaches. Analyst Quincy Crosby sees headwinds easing due to positive sentiment from Nvidia's earnings, Best Buy's upbeat results, and headlines pointing to debt ceiling resolution.

Portfolio Pulse from Shanthi Rexaline

May 26, 2023 | 11:17 am

The US job market remains strong as unemployment claims fall short of expectations, while Q1 GDP and core PCE are revised higher. Initial jobless claims were at 229,000, below the expected 245,000. The nation's GDP growth for Q1 2023 has been revised up from 1.1% to 1.3%. The US dollar index strengthened, and S&P 500 futures are up 0.2%.

Portfolio Pulse from Piero Cingari

May 25, 2023 | 1:03 pm

Nasdaq futures soar as Nvidia's strong quarterly performance sparks a tech rally, while caution remains due to the ongoing debt deal impasse between President Joe Biden and House Republicans. Analyst Mike Wilson warns that AI optimism may mask a looming earnings recession.

Portfolio Pulse from Shanthi Rexaline

May 25, 2023 | 10:53 am

Stock futures signal a weak open ahead of FOMC minutes and Treasury Secretary Janet Yellen's speech. Analyst Louis Navellier sees two factors that could provide a 'spark to lift' markets: positive news from the technology sector and potential interest rate cuts by the Federal Reserve. Major US indices experienced declines on Tuesday, while stock futures point to a modestly lower opening on Wednesday.

Portfolio Pulse from Shanthi Rexaline

May 24, 2023 | 10:39 am

US stocks are poised for a flat open on Tuesday due to the debt ceiling impasse. Analyst Ryan Detrick believes October lows won't be violated, citing the S&P 500's 200-day moving average trending higher. In premarket trading, SPDR S&P 500 ETF Trust (SPY) fell 0.12% and Invesco QQQ ETF (QQQ) slipped 0.08%.

Portfolio Pulse from Shanthi Rexaline

May 23, 2023 | 11:15 am

Market sentiment has soured following last week's strong performance, with futures trading indicating a modestly lower open on Monday. The tech sector is facing negative headlines, with Micron Technology facing a ban in China and Meta Platforms fined $1.3 billion by European regulators. Despite this, LPL Financial's Adam Turnquist sees a potential quick S&P 500 rally to August highs.

Portfolio Pulse from Shanthi Rexaline

May 22, 2023 | 10:28 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.