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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

Major indexes have risen following the release of June's Consumer Price Index (CPI) data, which showed softer-than-expected inflation.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 2:26 pm

Market Clubhouse's Morning Memo discusses trade strategies for SPY, QQQ, AAPL, MSFT, NVDA, and TSLA. The memo provides price levels for these assets based on a proprietary formula that considers price, volume, and options flow. The memo suggests that the market's reaction to the lower-than-expected CPI figures and the Federal Reserve's subsequent actions will be crucial in today's session.

Portfolio Pulse from RIPS

July 12, 2023 | 2:00 pm

Disney is considering different strategies for its Star India business, which could include partnering with another company or even selling it. Kim Kardashian is reportedly in negotiations to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. KPMG is reportedly looking to invest around $2 billion in AI and cloud services across its global business lines over the next five years. CVS's Caremark business experienced a halt in prescription processing. Ark Invest sold 135,152 shares of Coinbase Global Inc. Faraday Future Intelligent Electric flagged errors in its previously issued financial statements. The European Commission has fined Illumina Inc and Grail Inc for implementing their proposed merger before approval. Activision Blizzard Inc stock is trading lower amid reports of a possible new investigation on the Microsoft Corp takeover deal. Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. Domino's Pizza Inc entered a new global agreement with Uber Technologies Inc. Takeda Pharmaceutical Co Ltd is voluntarily withdrawing its marketing application for its dengue vaccine. Google quietly ditched its AI-powered mobile chatbot app, Bubble Characters. Warren Buffett's Berkshire Hathaway stood to make a profit of over $1 billion following the court's decision to allow Microsoft Corp to proceed with its acquisition of Activision Blizzard. IBM is weighing the use of artificial intelligence chips designed in-house to lower the costs of operating a cloud computing service. Novo Nordisk A/S's weight-loss drug, Wegovy, saw a significant drop in adherence compared to what was reported in clinical trials. Microsoft Corp has revealed that a China-based hacking group, Storm-0558, breached email accounts linked to government agencies in Western Europe. Hyundai Motor Company unionized workers at its plants across South Korea reportedly staged the first strike in five years against the government's labor policies.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 1:48 pm

President Biden has stated that the G7's support will last long into the future, indicating a commitment to long-term international cooperation.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 1:32 pm

Federal Reserve's Barkin has stated that demand appears to be settling down, but he is still looking for convincing evidence that this will feed through to inflation, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:50 pm

The U.S. consumer price index (CPI) inflation decelerated more than predicted in June, leading to a drop in the annual inflation rate from 4% in May to 3% in June. This has increased investor conviction that the Fed may decide for only one more rate hike and then halt its tightening cycle. Following the release of the data, the dollar tumbled, treasury yields declined, and S&P 500 futures rose. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the SPDR Gold Trust ETF (NYSE:GLD) were positively impacted.

Portfolio Pulse from Piero Cingari

July 12, 2023 | 12:49 pm

Richmond Fed's Barkin has stated that inflation is still too high, with demand remaining elevated while supply is constrained. The process of getting back to balance has been slow.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:48 pm

The U.S. has strongly condemned North Korea's recent ballistic missile test, which could potentially escalate geopolitical tensions in the region.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:46 pm

The Core CPI (MoM) for June came in at 0.2%, lower than the estimated 0.3%.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:31 pm

The Consumer Price Index (CPI) year-on-year for June came in at 3.0%, lower than the expected 3.1% and the previous month's 4.0%.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:30 pm

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