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

Economist Harry Dent warns of an impending 'crash of a lifetime,' predicting the S&P 500 to plummet by 86% and the Nasdaq by 92%. He highlights the prolonged 14-year bubble, driven by artificial economic stimulus, and forecasts significant declines for top-performing companies like Nvidia. Dent also predicts a severe drop in real estate prices, advising investors to seek refuge in safe bonds.

Portfolio Pulse from Piero Cingari

June 10, 2024 | 7:07 pm

Europe is engaging in negotiations to ensure the continued flow of gas through the Russia-Ukraine pipeline, as reported by Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 5:44 pm

Wall Street is experiencing a quiet trading session with major indices showing little movement as investors await key economic events. Energy stocks lead gains, while regional banks decline. Notable stock movements include Southwest Airlines rising 8% and Huntington Bancshares falling over 5%.

Portfolio Pulse from Piero Cingari

June 10, 2024 | 5:22 pm

Advanced Micro Devices Inc (AMD) shares are trading lower after a downgrade by Morgan Stanley analyst Joseph Moore, who cited high valuations and competition from Nvidia. Despite the downgrade, AMD is expected to gain market share in the CPU markets. Additionally, there are concerns about AMD's progress with Samsung on 3-nanometer chip technology, with suggestions to invest in TSM's 2-nm products instead. AMD stock has gained over 26% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

June 10, 2024 | 5:14 pm

Morgan Stanley's CEO pick has highlighted the use of AI in wealth management, stating that it saves financial advisers 10-15 hours per week.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 4:55 pm

Morgan Stanley's CEO pick plans to expand tailored lending services for high net worth clients, aiming to enhance the bank's offerings and attract more affluent customers.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 4:34 pm

Artificial intelligence is significantly impacting the financial markets, with 41% of S&P 500 companies mentioning AI in their Q1 2024 earnings calls. This trend is not limited to tech giants like NVIDIA, Microsoft, and Alphabet but is also being embraced by companies in various industries such as Walmart, Baker Hughes, and Accenture.

Portfolio Pulse from Hayden Buckfire

June 10, 2024 | 4:06 pm

The New York Federal Reserve reports that the odds of a year-ahead stock price rise are the highest since May 2021. Perceptions of the current financial situation improved in May, while expectations of higher unemployment in a year also increased. Perceptions of credit access remained unchanged.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 3:02 pm

GameStop (GME) experienced significant price volatility due to social media activity by 'Roaring Kitty' and subsequent earnings and equity offering news. The stock spiked from $17.46 to over $60 but fell after dismal earnings and an equity offering announcement. The article suggests a bearish outlook on GME above $60 and discusses a strategy involving in-the-money credit call spreads.

Portfolio Pulse from David Pinsen

June 10, 2024 | 2:58 pm

The Federal Reserve is expected to maintain the federal funds rate at 5.25%-5.5% in June, with fewer rate cuts anticipated in the future. The market will focus on the Fed's updated economic projections. Recent economic data, including a strong May jobs report, has led to revised expectations for rate cuts. Analysts from Bank of America and Goldman Sachs have adjusted their forecasts, predicting fewer cuts in 2024 and 2025.

Portfolio Pulse from Piero Cingari

June 10, 2024 | 2:43 pm

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