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SPY

SPDR S&P 500 ETF Trust

http://www.spdrs.com

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The Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the index (the “Portfolio”), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the index.

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The U.S. Energy Department has purchased nearly 2.5 million barrels of oil to replenish the Strategic Petroleum Reserve. This move could impact oil prices and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 8:36 pm

Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts, causing the dollar to plunge and gold to rally. Small-cap stocks, real estate, and regional banks surged, with the iShares Russell 2000 ETF (IWM) up 3.4% and the SPDR S&P 500 ETF Trust (SPY) rising 1.3%. Defense and cybersecurity stocks like Boeing (BA), Lockheed Martin (LMT), and Palo Alto Networks (PANW) are expected to perform well regardless of political outcomes. Meanwhile, Ford (F), General Motors (GM), and Stellantis (STLA) are scaling back EV investments due to weakening demand.

Portfolio Pulse from Piero Cingari

August 23, 2024 | 7:54 pm

Nvidia's upcoming earnings report is highly anticipated, with expectations of significant revenue and earnings growth. Market strategist Jay Woods highlights Nvidia's importance in the market, noting its influence on major ETFs like SPY and XLK. Despite caution about short-term momentum, Woods considers Nvidia a top long-term investment.

Portfolio Pulse from Chris Katje

August 23, 2024 | 6:59 pm

President Biden has announced a new military aid package for Ukraine, which could potentially benefit defense contractors involved in supplying military equipment.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:45 pm

In a Bloomberg TV interview, Fed's Goolsbee emphasized the importance of the path of rate cuts rather than their size. He noted that neutral rates are far from current levels and doesn't foresee near-zero rates given the current economic outlook. He also mentioned that all options are always on the table for the Fed.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:23 pm

Robert F. Kennedy Jr. is reportedly planning to endorse Donald Trump, according to a court filing. This development could have political implications, but its direct impact on financial markets or specific stocks is not clear.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:20 pm

Federal Reserve's Goolsbee emphasizes the importance of focusing on the job mandate, with forecasts suggesting a path of rate cuts. The speed and size of these cuts will depend on economic data, which currently shows mixed signals of warning and strength.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:19 pm

In a Fox Business interview, Fed's Goolsbee expressed confidence that the Federal Reserve's forecasts for rate cuts will materialize. He also noted warning signs in the job market, which could influence future monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:50 pm

Federal Reserve's Goolsbee stated that Chairman Powell's comments on interest rates were clear and definitive. The funds rate was set during a period of higher inflation, and as inflation cools, the Fed's policy has been passively tightening.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:48 pm

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