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SPDR S&P 500 Trust ETF (SPY)

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  • Jun. 26, 2013, 10:40 AM
    43 out of 45 global markets are oversold, according to BAML's "Breadth Buy" indicator. These extreme signals tend to be followed by a short-term 6-7% bounce, but, cautions chief investment strategist Michael Hartnett, a sustained rally would require a shift in policy behavior. What's more, the 2 markets not in oversold territory are the U.S. (SPY) and Japan (EWJ, DXJ) and they're kind of important. Most oversold: Brazil (EWZ), Turkey (TUR), South Africa (EZA), Mexico (EWW), Materials (XLB), China (FXI, CAF). Least oversold (in addition to the U.S. and Japan): Health Care (XLV, IYH), and Consumer Discretionary (XLY).
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  • Jun. 26, 2013, 8:42 AM
    More on Q1 GDP (third estimate): The big needle-mover in the sharp downward revision (to 1.8% from 2.4%) was a revision to personal consumption spending to 2.6% from 3.4%. Treasury prices are partying at the moment, but the Fed - for all its faults - at least tries to look forward. This morning's data is for Q1 and the calendar turns to Q3 in a few days. SPY +0.4%, QQQ +0.4% premarket.
    | 2 Comments
  • Jun. 26, 2013, 7:14 AM
    Markets look to add to yesterday's rally, with S&P 500 (SPY) futures +0.4% and Nasdaq 100 (QQQ) +0.6%. China fell 0.4% overnight, but Hong Kong (EWH) posted a 2.4% rally and Europe is higher by about 2%. Treasurys are cooperating, the 10-year yield dipping 1 bp to 2.58%.
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  • Jun. 25, 2013, 10:08 AM
    More on Richmond Fed: The big gain was led by a jump in New Orders to 9 from -10 previously. Number of Employees 4 vs. 3. Average workweek 12 vs. -6. Expected hiring plans jumps to 13 from 4. The wave of solid economic news - Durable Goods, Case-Shiller, New Home Sales, Consumer Confidence - has taken the starch out of early bond market gains, TLT -0.3%, and the 10-year Treasury yield is up a couple of bps to 2.55%. Stocks back off a big early advance, the S&P 500 (SPY +0.5%).
    | 1 Comment
  • Jun. 25, 2013, 7:49 AM
    Short interest on S&P 500 (SPY) stocks fell to just 2.3% of outstanding shares last week, a 6-year low according to Markit. PNC's Bill Stone says short are so accustomed to losing money, they're wary of stepping in. Another interpretation may be the shorts - having banked some coin - covered their bets.
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  • Jun. 25, 2013, 7:00 AM
    S&P 500 (SPY) futures +0.4% and Nasdaq 100 (QQQ) +0.5% after China rallies to close about flat following an early near-4% dive. Treasury yields are cooperating, the 10-year down 4 bps to 2.53%.
    | 1 Comment
  • Jun. 24, 2013, 1:35 PM
    Dallas Fed chief Fisher warns the "feral hogs" of the markets about attacking Treasurys (TLT) or MBS (MBB, MORT, REM). "We haven't forgotten what happened to the BOE (Soros forced devaluation in 1992). I don't think anyone can break the Fed." The FOMC he says, he "fully understood" markets would react big to word QE could end next year. However, "I don't want to go from Wild Turkey to cold turkey overnight," says the prominent hawk. Markets look to be responding, the S&P (SPY -1.3%) cutting its losses and the 10-year Treasury yield returning down to 2.57%.
    | 7 Comments
  • Jun. 24, 2013, 9:03 AM
    FRBNY President Bill Dudley throws the Taylor Rule over the side, saying it leads to monetary policy being too tight in a financial crisis. Financial stability first, monetary policy next, argues Dudley as policy is ineffective without stability. His remarks seem to have put a bid into equities and Treasurys, with both still lower but cutting big pre-opening losses. SPY -0.8%, TLT -0.3% premarket.
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  • Jun. 24, 2013, 7:06 AM
    Big declines hit stock index futures following a mini-crash in China, where the Shanghai Composite fell 5.3%. The S&P 500 (SPY) -0.9% and Nasdaq 100 -0.6%. Europe is off just under 2%. It's a 2-year high for the 10-year Treasury yield, up 6 bps at 2.59%.
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  • Jun. 21, 2013, 2:48 PM
    The recent drawdown in the S&P 500 (SPY) is a minor one compared to historical norms, says Goldman in a research note today. While reiterating its view of a 1,750 closing level this year for the index, the team expects there could be another 3-5% down in this current move.
    | 4 Comments
  • Jun. 21, 2013, 10:10 AM
    VelocityShares delays the launch of two hedged ETFs - the Tail Risk Hedged Large Cap ETF (TRSK) and the Volatility Hedged Large Cap ETF (SPXH). Both are funds of funds, owning the same 5 ETFs - SPY, VOO, IVV, UVXY, SVXY - but differing in their hedging with the SPXH having a 45% allocation to UVXY and 55% to SVXY, but TRSK 33% to UVXY and 67% to SVXY.
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  • Jun. 21, 2013, 8:43 AM
    Sizable pre-open gains in stock index futures melt away with the crumbling of Greece's ruling coalition as good of an excuse as any for selling. Just like the old days: The euro (FXE) quickly slips about 70 pips and the Stoxx 50 (FEZ) drops 1%, now flat on the session. S&P 500 (SPY) futures +0.25%.
    | 2 Comments
  • Jun. 21, 2013, 8:18 AM
    SPDR S&P 500 ETF (SPY) announces quarterly distribution of $0.8391. 30-day SEC yield of 1.91% (as of 06/19/2013). For shareholders of record June 25. Payable July 31. Ex-div date June 21.
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  • Jun. 21, 2013, 6:53 AM
    The selloff looks to take a breather - at least in early action - with S&P 500 (SPY) futures +0.8% and Nasdaq 100 (QQQ) +0.6%. Japan looks to be leading the comeback as the Nikkei reversed a sharp early fall to climb 1.7% overnight. Europe is moderately higher, and U.S. Treasury prices are quiescent - the 10-year yield off 1 bp to 2.4%.
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  • Jun. 21, 2013, 3:46 AM
    Japanese shares (DXJ) lead the fightback following yesterday's global rout and rise 1.7%, boosted by the weaker yen and an upturn in U.S. stock futures. European equities (FEZ) have are also higher in early trading. "The fall (yesterday) looks overdone because fundamentals are still solid and the U.S. economy seems to be improving," says Allianz's Kazuyuki Terao. Hong Kong -0.5%, China -0.5%, India +0.5%. EU Stoxx 50 +0.3%, London +0.6%, Paris +0.5%, Frankfurt +0.3%, Madrid -0.1%, Milan +0.4%. U.S. futures: Dow (DIA) +0.6%, S&P (SPY) +0.6%, Nasdaq (QQQ) +0.4%.
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  • Jun. 20, 2013, 2:37 PM
    Stocks carve out new session lows 90 minutes before the bell, the Dow (DIA -1.9%) now off 300 points, but outperforming the S&P 500 (SPY -2.1%) and the Nasdaq 100 (QQQ -2.2%). Long-term Treasury yields have come off their peaks, but remain sharply higher, the 10-year at 2.43%. The 5-year (IEI, FIVZ, TBZ, VGIT) at 1.32% must be starting to look good to anyone who believes the Fed isn't hiking rates for another 2 years. The Dec 2015 Fed Funds futures contract is pricing in 100 bps of hikes between now and then.
    | 14 Comments
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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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