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

A report by Unusual Whales revealed that 32 members of Congress outperformed the S&P 500 in 2023, with top sectors traded including Technology, Energy, Healthcare, Consumer Defensive, and Financial Services. The report also highlighted top stocks bought and sold by Congress members, with ETFs NANC and KRUZ allowing investors to follow their trades. Top stocks bought included AAPL, MSFT, and F, while top stocks sold included MSFT, META, and NVDA.

Portfolio Pulse from Chris Katje

January 03, 2024 | 4:29 pm

Fox Business Reporter Eleanor Terrett reports that the SEC is meeting with major exchanges including Nasdaq, CBOE, and NYSE to finalize comments on the 19B-4 forms submitted by issuers of Bitcoin (BTC) spot ETFs.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:58 pm

Richmond Federal Reserve President Tom Barkin indicated the possibility of a 'soft landing' for the U.S. economy but did not rule out further rate hikes. He emphasized the need for a data-driven approach to future Fed decisions, particularly in response to inflation trends. Following his remarks, the U.S. dollar index rose, Treasury yields increased, and stock ETFs such as SPY, QQQ, and IWM saw declines.

Portfolio Pulse from Piero Cingari

January 03, 2024 | 3:49 pm

Morgan Stanley CEO James Gorman suggests that the Federal Reserve might cut interest rates a few times in the current year. He believes that the economy is performing well and considers a recession to be unlikely.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:47 pm

Major stock indexes have declined due to an increase in bond yields, which typically leads to a shift in investor preference from stocks to bonds as they become more attractive.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:45 pm

The Market Clubhouse Morning Memo provides daily trade strategies for SPY, QQQ, AAPL, MSFT, TSLA, GOOGL, META, and NVDA, based on a proprietary formula involving price, volume, and options flow. The memo outlines potential support and resistance levels for each asset, suggesting possible price targets for bullish and bearish scenarios. It also advises traders to stay alert to market conditions and adjust strategies accordingly. The memo highlights the importance of premarket activities, economic data releases, and FOMC Minutes for trading decisions. RIPS, a pro trader, curates the memo and offers insights and mentorship through the Market Clubhouse community.

Portfolio Pulse from RIPS

January 03, 2024 | 3:39 pm

The U.S. Energy Department has announced a solicitation for up to 3 million barrels of crude oil for delivery in April 2024, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:05 pm

Redbook data indicates U.S. retail sales increased by 5.6% for the week ending December 30 compared to the same week last year. For the first five weeks of December, retail sales were up 3.9% compared to the same period the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 1:56 pm

Fed's Barkin states that the future path and timing of changes in the U.S. central bank's policy rate will be determined by the conviction on the trajectory of inflation and the economy.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 1:31 pm

Richmond Fed President Thomas Barkin stated that the U.S. Federal Reserve is making significant progress in controlling inflation, with the economy remaining robust. He highlighted that the six-month core Personal Consumption Expenditures (PCE) inflation rate is now just below the Fed's 2% target.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 1:29 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.