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 housing as a significant puzzle and challenge in achieving 2% inflation. He suggests an 'optimistic lane' if housing inflation decreases.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:36 pm

Fed's Goolsbee expresses hesitancy to overemphasize recent inflation data, highlighting significant progress made. This stance suggests a cautious approach to future monetary policy adjustments, potentially impacting market expectations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:19 pm

In a recent speech, the Federal Reserve's Goolsbee emphasized that the current monetary policy is relatively restrictive. He highlighted the Fed's commitment to controlling inflation and ensuring economic stability. This stance suggests a cautious approach to interest rate changes, potentially impacting investor sentiment and market dynamics.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:16 pm

In a recent statement, Federal Reserve Bank of Chicago President Austan Goolsbee remarked that the economy has encountered an inflation bump this year, suggesting a period of observation is now necessary to assess the impact. This comment implies a cautious approach to future monetary policy decisions, potentially affecting market expectations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:15 pm

The latest U.S. Baker Hughes Oil Rig Count shows a decrease of 3 rigs to a total of 496, while the Gas Rig Count increased by 1 to a total of 103. This mixed change in rig counts could have implications for energy sector investments and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:02 pm

Fed's Bowman stated in an interview with Bloomberg News that she does not anticipate interest rate cuts this year, and has not planned for any cuts in 2024.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:52 pm

Stocks paused due to a dismal consumer confidence report, with inflation expectations rising, impacting various assets. The S&P 500 and Dow Jones showed mixed reactions, while the iShares Russell 2000 ETF and SPDR Gold Trust experienced notable movements. Bitcoin's value dropped significantly. Noteworthy stock movements included Novavax's surge after a licensing deal, MacroGenics' decline due to a study update, and various companies reacting to earnings reports.

Portfolio Pulse from Piero Cingari

May 10, 2024 | 4:45 pm

The Biden administration's upcoming report will not conclude that Israel violated U.S. weapons agreement terms despite being critical of Israel's actions in Gaza. This decision follows seven months of conflict in Gaza, resulting in nearly 35,000 Palestinian casualties. The report, prompted by a presidential directive, assesses Israel's use of U.S.-provided military aid amidst pressure from congressional Democrats.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:27 pm

The Pentagon has ordered the withdrawal of all 1,000 U.S. combat troops from Niger, impacting the Biden administration's counter-terrorism and anti-Russian influence efforts in West Africa. This decision follows Niger's military junta revoking its military cooperation with the U.S., despite ongoing negotiations for a possible partial stay of American forces. The withdrawal timeline is subject to change, with congressional negotiations still in progress.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:51 pm

The article discusses aggressive stock buying amid rising layoffs and a revenue increase at TSMC. It highlights the SPDR S&P 500 ETF Trust's (SPY) performance, jobless claims, TSMC's booming sales, and the impact on AI stocks like NVIDIA (NVDA), AMD, Micron Technology (MU), and Applied Materials (AMAT). It also mentions China's market attractiveness, represented by the iShares China Large-Cap ETF (FXI), and the positive early trade money flows in major tech stocks and ETFs like QQQ, with a note on gold, oil, and Bitcoin movements.

Portfolio Pulse from The Arora Report

May 10, 2024 | 3:50 pm

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