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

Federal Reserve's Mester indicated that the risks of the Fed being too restrictive have decreased in the first part of the year, while inflation risks remain tilted to the upside.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 6:06 pm

Federal Reserve's Mester stated that labor markets are becoming better balanced, which is expected to put downward pressure on inflation.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 6:05 pm

Federal Reserve's Mester stated that monetary policy remains restrictive and inflation progress stalled in the first three months of the year. The April CPI report showed positive signs, but it is too early to determine the inflation trajectory.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 6:04 pm

Wall Street saw major indices reach new record highs, with the S&P 500, Nasdaq 100, and Dow Jones all posting gains. Gold hit a new all-time high, while cruise stocks rallied significantly. GameStop saw a sharp decline. Key movers included Moderna, Jabil, Hims & Hers Health, and Wix.com. Several companies are set to report earnings after the market close.

Portfolio Pulse from Piero Cingari

May 20, 2024 | 5:34 pm

Wall Street veteran Ed Yardeni forecasts the Dow Jones Industrial Average to reach 60,000 and the S&P 500 to hit 8,000 by 2030, driven by substantial earnings growth and favorable market conditions. The SPDR Dow Jones Industrial Average ETF (DIA) and the SPDR S&P 500 ETF Trust (SPY) have shown significant gains, reflecting the bullish outlook.

Portfolio Pulse from Piero Cingari

May 20, 2024 | 4:54 pm

U.S. Secretary of State Blinken has stated that the U.S. fundamentally rejects the International Criminal Court (ICC) warrants, which could jeopardize ongoing ceasefire talks.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:33 pm

JP Morgan CEO Jamie Dimon stated that banks should be allowed to merge during the company's Investor Day.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:30 pm

Ukrainian President Zelenskiy criticizes the delay in Western military support, stating that decisions are 'late by around one year.' He describes Western military aid as 'one big step forward but before that two steps back.' Zelenskiy also mentions Ukraine's attacks on Russia's energy system in response to energy shortages. Additionally, he expresses concerns over some messages from Republicans in the United States.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:13 pm

SF Fed President Mary Daly stated that she is not yet confident that inflation is coming down sustainably to 2% and does not see any evidence currently that would necessitate raising interest rates.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:10 pm

Fed Vice Chair Jefferson expressed optimism about the resilience of the job market, which provides the Federal Reserve with the flexibility to continue focusing on lowering inflation while maintaining a strong economy.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 3:02 pm

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