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

593.08

Mkt cap

547B

Volume

46M

High

596.65

P/E Ratio

30.00

52-wk high

596.65

Low

593.00

Div yield

0.01

52-wk low

433.40

President Biden has requested approximately $40 billion in supplemental funding from the U.S. Congress. The funds are intended for Ukraine aid, disaster relief, efforts to counteract China, and combating the Fentanyl crisis.

Portfolio Pulse from Charles Gross

August 10, 2023 | 7:05 pm

The Special Counsel has requested a January 2 trial date for the Trump election case. This news could potentially impact the stock prices of Digital World Acquisition Corp. (DWAC) and SPDR S&P 500 ETF Trust (SPY).

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 5:54 pm

The U.S. National Security Council (NSC) has confirmed that Iran has released five Americans who were unjustly detained in prison. The news was reported by Reuters.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 5:19 pm

The Consumer Price Index rose from 3% in June to 3.2% in July, narrowly missing the anticipated 3.3%. Core inflation was down marginally from 4.8% in June to 4.7% in July. The SPDR S&P 500 (NYSE:SPY) rose more than 1% after the data was released. Economists and strategists suggest that the slower-than-expected rise in consumer prices is a positive development and supports calls for a pause in rate hikes.

Portfolio Pulse from AJ Fabino

August 10, 2023 | 3:46 pm

Federal Reserve's Mary Daly stated that the conversation about inflation and its impact on the economy will be held next year. The discussion will depend on the economic conditions and the path of inflation.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 3:19 pm

Federal Reserve's Daly stated that super-core inflation needs to return to pre-pandemic levels before she feels comfortable that enough has been done. She also mentioned that discussions about rate cuts are still far off.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 3:19 pm

Federal Reserve's Daly stated that the key focus is on goods price inflation, which is currently decreasing, and shelter price inflation, which is also projected to decrease. The Fed will be closely monitoring core-services inflation, excluding housing, as it has not shown significant progress.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 3:18 pm

Federal Reserve's Daly has expressed support for the rate hike implemented in July. She also stated that to support holding rates, a completely downward path of inflation would be needed.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 3:17 pm

Federal Reserve's Mary Daly stated that it is too early to determine whether interest rates will be raised or held. She noted that inflation data is moving in the right direction. However, if core services excluding housing stalls, it would be significant information. Contacts have expressed concerns that inflation is too high.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 3:17 pm

Federal Reserve's Mary Daly stated that more information will be available before the September meeting and the end of the year. She noted a slowdown in the economy, but it hasn't fully arrived yet. The economy feels less frenzied, but there's still a shortage of workers.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 3:16 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.