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

The article pays tribute to Jim Simons, highlighting his exceptional investment record, particularly with the Medallion Fund, and his contributions to math and science. It also mentions the performance of the SPDR S&P 500 Trust ETF (SPY) and companies like Super Micro Computer, Inc. (SMCI), Celestica (NYSE:CLS), and Nvidia (NASDAQ:NVDA) in the context of a top ten names list from a Substack post.

Portfolio Pulse from David Pinsen

May 13, 2024 | 1:46 pm

Wall Street anticipates a slight decrease in the April Consumer Price Index (CPI) and core CPI, with expectations of 3.4% and 3.6% year-over-year inflation rates, respectively. Goldman Sachs aligns with these forecasts, highlighting potential trends in car insurance, health insurance, and housing rental costs. The firm also predicts a gradual decrease in core CPI inflation to about 0.2% by the end of 2024. Financial markets, especially the S&P 500 and interest rate-sensitive sectors, show significant reactions to CPI data releases, with non-profitable tech stocks like DraftKings Inc. and DoorDash Inc. being particularly volatile.

Portfolio Pulse from Piero Cingari

May 13, 2024 | 1:43 pm

Fed's Jefferson emphasizes the importance of maintaining a restrictive policy rate due to the broader strength of the economy and the need for more evidence of inflation abating. He suggests it's crucial to keep the policy rate restrictive until there's clear evidence of inflation ebbing.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:27 pm

Netflix Inc (NASDAQ:NFLX) receives an optimistic outlook from JPMorgan ahead of its Upfront presentation on May 16, with a focus on ad tier updates and potential NFL game hosting. Analyst Doug Anmuth maintains an Overweight rating with a $650 price target, citing revenue outlook comfort, subscriber reporting changes, and lower AI-driven capex intensity compared to competitors. Netflix's ad tier growth, driven by bundles, pricing, and marketing, is highlighted as a key revenue driver for the future. The company's stock has rebounded post-earnings, outperforming the S&P 500 as represented by the iShares S&P 500 ETF (NYSE:SPY).

Portfolio Pulse from Surbhi Jain

May 13, 2024 | 12:52 pm

Federal Reserve presidents Austan Goolsbee and Neel Kashkari, representing dovish and hawkish views respectively, both emphasize the need for more data before deciding on future monetary policies. Kashkari believes current policies may not be restrictive enough, citing less impact from tightening than expected and questioning the perception of financial conditions. Goolsbee, on the other hand, highlights the importance of adhering to the Fed's dual mandate and remains cautious about future rate hikes. Market reactions were muted, with slight movements in Treasury yields, the S&P 500, and sector-specific ETFs.

Portfolio Pulse from Piero Cingari

May 10, 2024 | 7:46 pm

Senator Durbin has written to Federal Reserve Chairman Jerome Powell regarding card network interchange fees, potentially impacting financial sector stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 7:24 pm

Treasury Secretary Janet Yellen highlighted the unique risks posed by the growing nonbank mortgage sector, emphasizing the need for increased oversight to ensure financial stability. The U.S. Financial Stability Oversight Council is recommending that Congress assist regulators in enhancing the safety and soundness of the nonbank mortgage sector.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 7:04 pm

Fed's Kashkari has stated that while the bar for another rate hike is high, it cannot be completely ruled out, according to CNBC.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 6:26 pm

The White House is actively working to support Ukraine against Russian attacks, acknowledging the possibility of Russian advances but not expecting major breakthroughs. This situation underscores the ongoing geopolitical tensions and their potential impact on global markets.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 6:25 pm

Fed's Kashkari expresses caution regarding the restrictiveness of current monetary policy, indicating a 'wait and see' approach to future policy decisions.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 6:21 pm

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