Streetbeat News

SPY

SPDR S&P 500 ETF Trust

http://www.spdrs.com

Industry

Asset Management

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.

Open

593.08

Mkt cap

547B

Volume

46M

High

596.65

P/E Ratio

30.00

52-wk high

596.65

Low

593.00

Div yield

0.01

52-wk low

433.40

Federal Reserve Chair Jerome Powell stated that capital standards represent a tradeoff and the Fed is highly focused on commercial real estate. This comes amid concerns about the potential impact of rising interest rates on the sector.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:58 pm

Federal Reserve official Jefferson expressed concerns over recent bank troubles, stating that they represent a downside economic risk. This could potentially impact the broader market, including the SPY ETF.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:57 pm

Federal Reserve Chair Jerome Powell expects housing inflation to decrease significantly this year and next, according to Reuters.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:56 pm

Fed Chair Powell stated that data suggests a gradual cooling in the labor market, with significant excess demand over supply. This may impact the broader market, including the SPY ETF.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:55 pm

Federal Reserve Chair Jerome Powell stated that if capital requirements are increased, it would take several years to come into full effect. He also expects the ratio of job openings to unemployed people to decrease, allowing the labor market to become less tight without increasing unemployment.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:54 pm

US tech stocks, led by AI-driven innovations, have fueled a strong market comeback in 2023, with the Nasdaq 100 Index rising 38.7% and the S&P 500 Index up 15%. The 'Magnificent Seven' tech giants contributed 76% of the Nasdaq's gains.

Portfolio Pulse from Piero Cingari

June 21, 2023 | 2:51 pm

Market Clubhouse Morning Memo discusses trade strategies for SPY, QQQ, AAPL, TSLA, MSFT, NVDA, and META. Jerome Powell's testimony at the House Financial Services Committee is expected to drive market activity today.

Portfolio Pulse from RIPS

June 21, 2023 | 2:51 pm

Federal Reserve Chair Jerome Powell emphasized the need for stronger supervision and regulation for banks the size of those in Silicon Valley, according to Reuters.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:44 pm

Fed Chair Powell stated that the US is far from its inflation target and is focused on returning to 2%. He also mentioned that inflation affects lower-middle-income communities more than high-income individuals.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:42 pm

Federal Reserve Chair Jerome Powell stated that US banks are very strongly capitalized, but the Fed's ability to address inequality in the economy is fairly limited.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:39 pm

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.