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

556.11

Mkt cap

517B

Volume

61M

High

563.83

P/E Ratio

24.94

52-wk high

613.23

Low

551.49

Div yield

0.01

52-wk low

493.86

The Israeli military has announced that it is conducting strikes on Hezbollah targets in Lebanon. This development could have geopolitical implications and may affect markets sensitive to Middle Eastern tensions.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 1:57 pm

The Federal Reserve's 50 basis-point rate cut is predicted to energize the crypto market, with Bitcoin, Ethereum, and DeFi expected to rally. However, retail traders could disrupt this euphoria. Meanwhile, Wall Street anticipates a relief rally, and Exicure shares surge premarket.

Portfolio Pulse from Akanksha Bakshi

September 19, 2024 | 1:22 pm

Wall Street analysts are increasing their expectations for further interest rate cuts after the Federal Reserve slashed rates by 50 basis points. The SPDR S&P 500 ETF Trust (SPY) initially hit record highs but pulled back during Fed Chair Powell's press conference. Positive labor market data and predictions of further rate cuts suggest a strong market outlook.

Portfolio Pulse from Piero Cingari

September 19, 2024 | 1:12 pm

The US current account deficit for Q2 was reported at $266.8 billion, higher than the estimated $259.0 billion and the previous quarter's $241.0 billion. This indicates a larger than expected trade imbalance.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 12:30 pm

The Philadelphia Fed Manufacturing Index for September reported a value of 1.7, surpassing the estimated -0.8. This indicates a positive outlook for the manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 12:30 pm

The latest report on initial jobless claims in the USA shows a decrease to 219,000, which is below the estimated 230,000 and the previous figure of 231,000. This indicates a stronger labor market than expected.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 12:30 pm

U.S. stocks are poised for a relief rally following the Federal Reserve's 50 basis-point rate cut. Traders are focusing on jobless claims and FedEx earnings. Tech and small-cap stocks are expected to rally, although strategists warn of a potential tech cool-off. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw premarket gains. Analysts suggest value and defensive stocks may outperform in the coming months.

Portfolio Pulse from Shanthi Rexaline

September 19, 2024 | 10:53 am

The Federal Reserve has cut interest rates by 50 basis points, marking the first reduction in over four years. This move is expected to lower mortgage, credit card, and auto loan rates, potentially boosting consumer spending and home purchases. However, it may also lead to a decline in the US Dollar's value and lower returns on savings and treasuries. The iShares Russell 2000 ETF (IWM) is outperforming the SPDR S&P 500 ETF Trust (SPY) as small-cap stocks benefit from the rate cut.

Portfolio Pulse from Chris Katje

September 18, 2024 | 8:28 pm

Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) shares hit new 52-week highs due to a $79.8 million U.S. Air Force contract and a broader market boost from a Federal Reserve rate cut. The contract could reach $374.04 million if all options are exercised.

Portfolio Pulse from Adam Eckert

September 18, 2024 | 8:23 pm

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