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

Ahead of a big earnings week, the SPDR S&P 500 (NYSE:SPY) traded flat while the CBOE Volatility Index (CBOE: VIX) rose by 4.5%. The ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY), a 1.5x leveraged fund, also traded flat. The SPKY's double inside bar pattern leans bullish, indicating a potential upward break. However, if the ETF breaks down under $4.55, a downtrend is likely to resume.

Portfolio Pulse from Melanie Schaffer

July 31, 2023 | 2:40 pm

The Dallas Fed Manufacturing Business Index for July is reported at -20, which is better than the estimated -26.3 and the prior figure of -23.2.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 2:30 pm

Market Clubhouse's Morning Memo discusses trade strategies for SPY, QQQ, AAPL, MSFT, and NVDA. The proprietary formula used by Market Clubhouse takes into account price, volume, and options flow. The memo provides specific price levels for each asset and suggests potential bullish and bearish targets. Traders are advised to monitor these stocks closely and adjust their tactics based on the market's pulse.

Portfolio Pulse from RIPS

July 31, 2023 | 2:23 pm

Several significant business events have occurred. Alphabet Inc's Google has had an investigation into alleged abuse of dominance closed by the Italian Competition Authority. Toyota Motor Corp is strengthening its local development of intelligence and electrification technology in China. J.B. Hunt Transport Services is buying 13 zero-emission trucks from Nikola Corp. BT Group PLC has appointed Allison Kirkby as CEO. Walt Disney Co has appointed former executives Kevin Mayer and Tom Staggs as advisors to CEO Bob Iger. Foxconn is expanding in India with a $195M investment. Novo Nordisk A/S's weight-loss drug Wegovy has hit the German market. Walmart Inc has bought out Tiger Global's stake in Flipkart for $1.4B. Yellow Corporation has ceased operations. Panasonic Holdings Corp and Heineken NV have released their earnings reports.

Portfolio Pulse from Vandana Singh

July 31, 2023 | 2:14 pm

The upcoming week is expected to be busy with earnings reports from AAPL, AMZN, and AMD, along with Non Farm Payroll Data. The author anticipates potential moves in BTC, SPY, and QQQ. The author also discusses the potential impact of earnings reports on AAPL, AMZN, and AMD, and the potential price movements of TSLA, GOOGL, and PLTR.

Portfolio Pulse from Mando Trading

July 31, 2023 | 1:53 pm

The Chicago Purchasing Managers' Index (PMI) for July came in at 42.8, slightly below the estimated 43 but higher than the prior month's 41.5.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:45 pm

Federal Reserve's Goolsbee has stated that there has been significant progress on goods inflation and expects housing inflation to start dropping.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:31 pm

The President of the Federal Reserve Bank of Chicago, Goolsbee, has stated that all options are open for the September rates decision, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 1:30 pm

The President of the Federal Reserve Bank of Chicago, Goolsbee, has stated that he is unsure whether to skip the September meeting. He is open to reading the data and has not made a decision regarding the September meeting.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 1:29 pm

Chicago Fed's President Goolsbee has stated that it is 'fabulous news' that inflation is coming down. The goal is to manage inflation without causing a major recession. The restrictiveness of the policy rate will need to be adjusted as necessary.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 1:26 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.