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

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin surged amid selling pressure. Apple unveiled a new AI with 30B parameters. US markets saw Logitech and B. Riley Financial moving lower. Nvidia and Qualcomm introduced new technologies, while Apple discussed licensing AI models with Google. Tesla and BYD made headlines in the EV market. Walmart and Best Buy engaged in a price war on Apple's MacBook Air. Boeing faced financial and safety scrutiny. Warren Buffett and Dave Ramsey expressed skepticism towards Bitcoin.

Portfolio Pulse from Akanksha Bakshi

March 18, 2024 | 1:05 pm

Stock futures indicate a strong open, driven by Nvidia's AI conference and potential Alphabet-Apple partnership, despite concerns over Fed's upcoming meeting and recent inflation data. Nvidia and Alphabet stocks rose in premarket trading, while the broader market showed mixed reactions to inflation and interest rate expectations. Upcoming economic data and Fed decisions are anticipated to further influence market direction.

Portfolio Pulse from Shanthi Rexaline

March 18, 2024 | 11:37 am

On March 15th, U.S. markets fell, led by a downturn in technology stocks. Economic data showed a slight increase in industrial production, a significant drop in the NY Empire State Manufacturing Index, and a decrease in consumer sentiment. Asian markets, however, saw gains on March 18th, with Japan's Nikkei 225 leading. Speculation about the Bank of Japan's potential rate hike influenced markets. European markets were mixed, with slight gains in major indexes. Crude oil prices rose above $81. U.S. futures indicated mixed directions, and forex showed minor fluctuations.

Portfolio Pulse from Akanksha Bakshi

March 18, 2024 | 11:31 am

Market strategist Tom Lee sees the recent market dip as a buying opportunity, citing underinvestment and record cash levels. Despite concerns over inflation and rate cuts, the S&P 500 and Nasdaq hit new highs. Morgan Stanley's Lisa Shalett warns of overreliance on AI and potential liquidity drying up. The SPDR S&P 500 ETF Trust (SPY) saw a slight decline but remains up year-to-date.

Portfolio Pulse from Shanthi Rexaline

March 16, 2024 | 7:32 pm

Reddit's WallStreetBets has highlighted Nvidia (NVDA), SPY ETF, and Taiwan Semiconductor (TSM) as top trending stocks this week. NVDA leads with over 6,700 mentions, buoyed by anticipation for its AI conference. SPY saw interest due to inflation data, with many traders buying puts. TSM, a key NVDA supplier, also gained attention ahead of its earnings report and the NVDA conference. The VanEck Semiconductor ETF (SMH), which includes NVDA and TSM, is noted for its significant gains.

Portfolio Pulse from Erica Kollmann

March 15, 2024 | 8:49 pm

White House's Kirby expressed cautious optimism about the direction of ceasefire talks, mentioning a Hamas proposal that aligns with ongoing negotiations. No specific details on the Rafah Plan were seen, but the administration is interested in reviewing it.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 7:33 pm

Wall Street experienced a risk-off sentiment due to high producer inflation figures, affecting major stock indices and cryptocurrencies. The Nasdaq 100 trailed, while small caps and energy stocks avoided losses. The VIX was up 5%, and the iShares 20+ Year Treasury Bond ETF (TLT) fell nearly 3%. Bitcoin dropped to $68,000. Commodities, especially industrial metals and oil, saw gains, with the Invesco DB Commodity Index Tracking Fund (DBC) poised for its best week since January 2024. Major ETFs like SPY, DIA, and QQQ fell, while sector-specific ETFs like XLE and XLB saw gains. Individual stocks like SCCO, JBL, Z, COMP, RDFN, ADBE, GERN, and CSGP had notable movements.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 6:12 pm

The latest U.S. Baker Hughes report shows an increase in the oil rig count by 6 and the gas rig count by 1, indicating a potential uptick in domestic oil and gas production.

Portfolio Pulse from Happy Mohamed

March 15, 2024 | 5:03 pm

The article discusses the impact of a $5 trillion quadruple witching event on the stock market, highlighting Microsoft's breakout amidst NVIDIA's pullback, and Adobe's stock fall due to AI competition. It also covers Japan's wage negotiations potentially affecting the Bank of Japan's interest rate policy, early trade money flows in major tech stocks and ETFs, and Bitcoin whales liquidating $500M. The article advises investors on protection strategies amidst market volatility.

Portfolio Pulse from The Arora Report

March 15, 2024 | 3:22 pm

A senior U.S. official cited by Reuters stated that the U.S. has not yet confirmed the transfer of ballistic missiles from Iran to Russia. This development is crucial for investors monitoring geopolitical tensions and their potential impact on global markets.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 2:48 pm

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