SPDR S&P 500 Trust ETF (SPY) - NYSEARCA
  • Mon, Apr. 11, 7:26 AM
    | Mon, Apr. 11, 7:26 AM | 2 Comments
  • Fri, Apr. 8, 7:14 AM
    | Fri, Apr. 8, 7:14 AM | 4 Comments
  • Fri, Apr. 8, 5:34 AM
    • Nomura's Bob Janjuah is out with another bearish note. He says rally off of the February lows in risk assets "has been marginally stronger than anticipated."
    • "My confidence on my negative views for global growth, on my belief in deflation over inflation and on the deeply negative outlook for earnings are now set even more in stone. The Fed has told me as much. In fact, I suspect that the Fed in private is far more concerned about these factors than it is currently willing to admit.
    • "The Fed’s change in March was all about weakening the USD, which in turn is designed to help the U.S. economy fight off imported deflation, instead of which the Fed hopes to import inflation into its economy.
    • "I am also even more convinced now that we are about 10 months through a multi-year bear market that likely won’t bottom until late 2017 or early 2018.
    • "The critical longer-term question to my mind is whether the Fed is going to re-introduce QE and/or cut rates ultimately into negative territory... My view is still that the Fed does not actually do anything more than jaw-bone until or unless the S&P500 cash index is into the 1500s and the outlook for growth, employment and inflation get significantly worse. In terms of credibility, while I think the ECB and the BOJ are scraping the barrel, the Fed still has the ability to influence things, at least for now.
    • "I also do not think that this current rally leg has much left in it – the power of Fedspeak without Fed action is already waning."
    • ETFs: SPY, IVE, SH, SSO, VOO, SDS, IVV, SPXU, UPRO, SPXL, RSP, SPXS, SPYG, RWL, VFINX, EPS, IVW, SPYV, RPG, RPV, VOOG, VOOV, SPLX, SFLA, FTA, SPUU, DHVW, LLSP, CAPX, RYARX
    • Now read Expecting 10% To 15% Correction In U.S. Equities »
    | Fri, Apr. 8, 5:34 AM | 28 Comments
  • Thu, Apr. 7, 7:09 AM
    • U.S. stock index futures are lower by about 0.5% across the board, suggesting at least a partial retreat from yesterday's gains. FOMC minutes released on Wednesday confirmed what most already knew - that an April rate hike is pretty much off the table.
    • Shanghai fell 1.4% overnight, while Tokyo and Hong Kong rose modestly. Europe's Stoxx 600 is down 0.35%.
    • The 10-year Treasury yield is down two basis points to 1.73%, gold is up 1.25% to $1,239 per ounce, and oil is off a few cents to $37.66 per barrel.
    • ETFs: SPY, QQQ, DIA, SH, SSO, VOO, SDS, IVV, SPXU, TQQQ, UPRO, PSQ, SPXL, RSP, SPXS, SQQQ, QID, DOG, QLD, DXD, UDOW, RWL, SDOW, VFINX, EPS, DDM, QQEW, BXUB, QQQE, SPLX, SFLA, BXUC, QQXT, SPUU, LLSP, UDPIX, OTPIX, RYARX
    | Thu, Apr. 7, 7:09 AM | 6 Comments
  • Wed, Apr. 6, 7:14 AM
    | Wed, Apr. 6, 7:14 AM | 11 Comments
  • Tue, Apr. 5, 7:12 AM
    | Tue, Apr. 5, 7:12 AM | 22 Comments
  • Mon, Apr. 4, 7:18 AM
    | Mon, Apr. 4, 7:18 AM | 1 Comment
  • Fri, Apr. 1, 7:14 AM
    • The consensus forecast is for 205K jobs to have been created in March, with the unemployment rate holding steady at 3.9%. March's national ISM manufacturing survey is also out today, and expectations are for that to push back into expansion zone at 50.7.
    • U.S. stock index futures are lower by about 0.4% across the board after a 3.55% overnight tumble in Japan following weak economic data there. Europe's Stoxx 600 is down 1.8%.
    • The 10-year Treasury yield is up two basis points to 1.79%, gold is down marginally, and oil is lower by 2.3% to $37.44 per barrel.
    • ETFs: SPY, QQQ, DIA, SH, SSO, VOO, SDS, IVV, SPXU, TQQQ, UPRO, PSQ, SPXL, RSP, SPXS, SQQQ, QID, DOG, QLD, DXD, UDOW, RWL, SDOW, VFINX, EPS, DDM, QQEW, BXUB, QQQE, SPLX, SFLA, BXUC, QQXT, SPUU, LLSP, UDPIX, OTPIX, RYARX
    | Fri, Apr. 1, 7:14 AM | 12 Comments
  • Thu, Mar. 31, 4:12 PM
    • The DJIA (NYSEARCA:DIA) notched a 1.5% gain in Q1, the S&P 500 (NYSEARCA:SPY) a 0.8% advance, and the Nasdaq (NASDAQ:QQQslipped 2.7% as a furious rally since mid-February lifted stocks from one of their worst-ever starts to a year.
    • Joining the Dow and S&P as unlikely gainers (at least in mid-Feb.) in Q1 were high-yield bonds, with HYG up 1.4% for the quarter and JNK +1%. WTI crude oil sunk into the $20s earlier this year, but finished the quarter down just slightly at $38.16 per barrel.
    • The big rally in risk assets wasn't enough to derail bull moves in gold and Treasurys, both of which posted their best quarters in years (gold's best Q in three decades).
    | Thu, Mar. 31, 4:12 PM | 14 Comments
  • Thu, Mar. 31, 7:09 AM
    | Thu, Mar. 31, 7:09 AM
  • Tue, Mar. 29, 12:32 PM
    • To review, the result of the FOMC's meeting less than two weeks ago was a notably dovish one, with the central bank cutting its expectation of rate hikes this year to just two from four. However, Fed speakers since then have tried to walk back that sentiment, with two of them even suggesting a rate hike as a possibility as soon as April.
    • In her speech today (Q&A still to come) Fed boss Janet Yellen resets things to how they were just after the FOMC meeting, telling an audience caution on rate hikes is "especially warranted" for now, and reminding that the bank has "considerable scope" for further stimulus.
    • The S&P 500 (SPY +0.5%) has swung from loss to gain, and gold (GLD +1.4%) has shot to new session highs.
    • Meanwhile, the 10-year Treasury yield has fallen six basis points to 1.825%, with TLT +0.7%, and the bid for the dollar (UUP -0.6%) has vanished.
    | Tue, Mar. 29, 12:32 PM | 45 Comments
  • Tue, Mar. 29, 7:26 AM
    | Tue, Mar. 29, 7:26 AM | 6 Comments
  • Mon, Mar. 28, 7:15 AM
    | Mon, Mar. 28, 7:15 AM | 8 Comments
  • Sun, Mar. 27, 12:16 PM
    • While the stock market’s first weekly setback in six almost "seemed inevitable after the powerful rally since mid-February," the move from "risk" to "haven" assets "wasn’t nearly as clear-cut as it was earlier this year," Wells Fargo says in a note today. This suggests more of a “sobering-up” consolidation after a rally driven more by “short covering” than by economic and market “fundamentals.”
    • "In fact, safe-haven gold, Treasury securities and the Japanese yen all were lower on the week in a largely “take-no-prisoners” mode across most asset markets."
    • One notable exception was the investment-grade corporate sector, which continued to march higher "on a lingering “reach” for yield and apparent spillover from the rally in its European counterpart inspired by the European Central Bank’s (ECB’s) looming bond purchases."
    • Now read Earnings Estimates Are Absurd »
    • ETFs: CRF, VV, USA, SCHX, ZF, FEX, JKD, EEH, EQL, IWL, FWDD, ZLRG, SYE, SBUS, USWD, GSLC, USSD
    | Sun, Mar. 27, 12:16 PM | 8 Comments
  • Thu, Mar. 24, 6:55 AM
    | Thu, Mar. 24, 6:55 AM | 6 Comments
  • Thu, Mar. 24, 6:06 AM
    • UBS technicians Michael Riesner and Marc Muller, who called both of the most recent selloffs, are out with a note telling clients to take profits on the S&P 500:
    • "Last week, we saw the suggested overshooting into expiration and the SPX reached the upper end of our projected late Q1/early Q2 target at 2050, which leaves the short-term picture in the U.S. unchanged as to what we highlighted last week. With the rally of the last few weeks and looking at our daily trend work, the SPX has reached its most overbought position since 2009!! Together with significant non-confirmations in our medium-term momentum work, and trading in the time window of our late Q1/early Q2 top projection, we see the market vulnerable for a significant reversal this week, which we would see as the beginning of a tactical top building process and subsequent correction into deeper Q2. We reiterate our last week’s comment and would not chase the market on current elevated levels.
    • "After being aggressively oversold, we saw the February 11th risk bottom as the basis for a multi-week bear market rally in global equities into the late March/early April timeframe with a price target 2000/2050 in the SPX before starting a new significant tactical down leg into deeper summer. Last week, we said that a final overshooting into expiration is still likely, but particularly in the week after triple witching we very often see important tactical trend reversals in the market.
    • "The February/March rebound was nearly vertical, which is not sustainable. With last week’s extension our daily trend work has reached its most overbought position since 2009. Together with our weekly momentum reaching overbought extremes we have a relatively high likelihood of seeing the market move into an important medium-term top followed by a significant setback. Even if our big picture market view (U.S. and global equity markets are in a cyclical bear market that we expect to continue into Q1 2017) proves to be too bearish, with such an indicator setup we should see the US market minimum ahead of a multi-week consolidation pattern, where we should see higher volatility and therefore a significant pullback."
    • Now read 10 Reasons Why Stocks Bounced Back So Hard »
    • ETFs: SPY, IVE, SH, SSO, SDS, VOO, IVV, UPRO, SPXU, SPXL, RSP, SPXS, RWL, EPS, SPYG, IVW, VFINX, RPG, RPV, SPYV, VOOG, VOOV, SPLX, SFLAFTA, SPUU, DHVW, LLSP, CAPX, RYARX
    | Thu, Mar. 24, 6:06 AM | 22 Comments
SPY Description
The SPDR® S&P 500® ETF is a fund that, before expenses, generally corresponds to the price and yield performance of the S&P 500 Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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