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

589.72

Mkt cap

538B

Volume

74M

High

590.20

P/E Ratio

29.51

52-wk high

600.17

Low

583.86

Div yield

0.01

52-wk low

449.29

Fed's Goolsbee highlights weaknesses in the jobs market and suggests that the current restrictive monetary policy should only be maintained as long as necessary. He emphasizes that if the economy is not overheating, further tightening should be avoided.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 12:43 pm

Fed's Goolsbee comments on the current global complexities and stock market volatility. He mentions that the Fed is prepared to respond to economic conditions, including potential rate cuts or raises, and emphasizes a balanced risk posture.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 12:42 pm

Federal Reserve's Goolsbee stated that the Fed has maintained a restrictive posture to prevent economic overheating. However, current data does not indicate overheating, and recent job numbers were weaker than expected but do not suggest a recession. Goolsbee emphasized the need for the Fed to be forward-looking and cautious in interpreting job reports.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 12:40 pm

The stock market is set to open sharply lower on Monday due to negative sentiment from last week. Nasdaq 100 futures are down over 4%, and the VIX has spiked over 100%. Berkshire Hathaway has trimmed its equity portfolio, including selling nearly half of its Apple shares. Tech stocks, particularly Nvidia, are showing notable weakness. Bitcoin has also plunged over 15%. The global sell-off is driven by recession fears and the unwinding of yen carry trades.

Portfolio Pulse from Shanthi Rexaline

August 05, 2024 | 11:51 am

Walt Disney Co (NYSE:DIS) and Marvel Studios' 'Deadpool & Wolverine' grossed $824 million globally after two weekends, contributing to Disney surpassing $3 billion in worldwide ticket sales in 2024. The film has also performed well in premium formats like Imax Corp (NYSE:IMAX). Disney's stock closed lower by 3.74%, while IMAX closed higher by 0.57%.

Portfolio Pulse from Anusuya Lahiri

August 05, 2024 | 11:29 am

Global markets experienced significant declines, with Japan's Nikkei 225 crashing 13.47% and U.S. indices closing lower due to disappointing jobs data. The Nasdaq Composite entered correction territory, and recession fears heightened. Commodities like crude oil and natural gas also fell, while gold remained near record highs.

Portfolio Pulse from Akanksha Bakshi

August 05, 2024 | 10:44 am

Global markets experienced significant declines, with the Nasdaq 100 and R2K futures down over 3% and the S&P 500 down about 1.75%. The sell-off was triggered by worsening manufacturing sector contraction, rising jobless claims, and negative tech earnings, including concerns about Nvidia (NVDA) under DOJ scrutiny. Analysts suggest the tech sector's previous strong performance may have led to the current correction.

Portfolio Pulse from Shanthi Rexaline

August 05, 2024 | 6:17 am

Berkshire Hathaway reported a 15.50% decline in Q2 net earnings year-over-year, despite a 15.48% increase in operating earnings. The company continued to offload its stake in Apple, leading to a significant reduction in its core holdings. Berkshire's cash reserves swelled to $277 billion, while its Class A shares have gained 18.21% year-to-date.

Portfolio Pulse from Shanthi Rexaline

August 03, 2024 | 1:14 pm

Benzinga reviewed the prospects of popular stocks, highlighting both bullish and bearish outlooks. Key points include a potential bottom for CrowdStrike, a predicted bull run for Dogecoin, and a possible end to the tech selloff. Conversely, Tesla's Bitcoin investment is criticized, Intel faces downgrades, and NuScale Power is reportedly under SEC investigation.

Portfolio Pulse from Michael Cohen

August 03, 2024 | 12:57 pm

The S&P 500 Index, tracked by SPDR S&P 500 ETF Trust (SPY), fell for the third consecutive week amid Middle East turmoil and weak economic data. Fed Chair Jerome Powell hinted at a potential rate cut in September, but investor sentiment remained low. Chip stocks like Intel (INTC), NVIDIA (NVDA), and ASML (ASML) saw sharp declines, while Amazon (AMZN) dipped on mixed quarterly results. JPMorgan remains optimistic about Apple's (AAPL) AI-driven growth.

Portfolio Pulse from Piero Cingari

August 02, 2024 | 8:19 pm

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