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SPDR S&P 500 Trust ETF (SPY)

  • Jul. 31, 2013, 6:54 AM
    • S&P 500 (SPY), Nasdaq 100 (QQQ), and Dow (DIA) futures are about flat as earnings reports continue to rush in.
    • We get our first look at Q2 GDP this morning and consensus has it at the punky level of just 1%, though some houses this week said they expect even less than that.
    • The ADP jobs report for July is also slated for release before the bell
    • The FOMC announcement is set for this afternoon and will be studied for any hint of when the taper might  start.
    • The 10-year Treasury yield is flat at 2.6%.
    • Europe is mixed and Asia was mostly lower.
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  • Jul. 30, 2013, 7:08 AM
    • S&P 500 (SPY) futures +0.2% and Nasdaq 100 (QQQ) +0.4%
    • Europe is moderately higher and Asia was mostly green overnight
    • The FOMC begins a 2-day policy meeting this morning
    • Pfizer is higher by 1% premarket after reporting earnings earlier
    • The 10-year Treasury yield is steady at 2.59%
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  • Jul. 26, 2013, 7:36 AM
    S&P 500 (SPY) futures -0.3% and Nasdaq 100 (QQQ) -0.2% as markets continue to digest waves of earnings reports. Europe is mixed, but the action overnight was in Japan where the Nikkei dove 3% and the yen surged after consumer prices climbed 0.4% in June - the biggest increase since June 2008. U.S. Treasury rates - their renewed rise being the story of the week (along with earnings) - are flat this morning, the 10-year yield at 2.57%.
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  • Jul. 25, 2013, 8:43 AM
    Treasury prices (TLT, TBT) erase early losses as jobless claims rise and durable goods ex-transport misses expectations. Nasdaq 100 (QQQ) futures go from red to green, now +0.1% (Facebook is up 23% and accounts for 1.36% of the index). S&P (SPY) and DJIA (DIA) remain off 0.4%.
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  • Jul. 25, 2013, 7:05 AM
    S&P 500 (SPY) futures -0.5% and Nasdaq 100 (QQQ) -0.4% as rising U.S. interest rates again become the major macro story. The 10-year yield is up another basis point this morning after yesterday's 11 bp move, yielding 2.60%. Asia had moderate losses overnight and Europe's off nearly 1%.
  • Jul. 24, 2013, 1:23 PM
    Treasury prices (TLT -1.6%) add to losses following the 5-year note auction and a pretty middling bid-to-cover ratio. The 10-year yield is up 11 bps to 2.61% in its worst session since the June employment report, and it's starting to take effect on the major stock market averages. The Dow (DIA -0.5%) and the S&P 500 (SPY -0.5%). The Nasdaq 100 (QQQ +0.2%) clings on to a small gain, courtesy of Apple.
  • Jul. 24, 2013, 12:51 PM
    Three signs we're close to a market top, according to Mark Hulbert: 1) A bull market's best returns typically come right before it dies, with the average bull gaining 21% in the year before topping. The SPY is currently up 23% Y/Y. 2) Riskiest stocks do best ahead of tops, and growth stocks have trumped value stocks by triple the historical norm in the last year. 3) Contrary to expectations, a nosebleed level of a P/E ratio is not a necessary condition for a market top.
  • Jul. 24, 2013, 6:51 AM
    S&P 500 (SPY) futures +0.3%, but the Nasdaq 100 (QQQ) is ahead by 0.9% thanks to Apple's 3.9% premarket gain. Asia was mixed to lower overnight and Europe is ahead by about 1%. Treasury yields are quietly heading higher again though, the 10-year yield up another couple of bps to 2.54%. Caterpillar earnings are due soon.
    | 1 Comment
  • Jul. 23, 2013, 12:01 PM
    "Some volatility is good," write researchers from Ned Davis after studying the results and finding low volatility strategies barely took the edge off big market declines in the mid-70s and mid-80s. Investors in SPLV or USMV who watched those funds underperform the SPY of late hardly need reminding of this. The study did not extend to global variants like EEMV and ACWV.
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  • Jul. 23, 2013, 7:01 AM
    S&P 500 (SPY) futures +0.2% and Nasdaq 100 (QQQ) +0.3% amid another wave of earnings reports set to be capped by Apple after the bell. Europe's moderately higher with the periphery outperforming and Asia notched bigger gains overnight. China and Hong Kong each gained about 2% after Beijing suggests it would step in with stimulus should GDP growth slow much more. Treasury yields turn higher for the first day in a few, the 10-year up 4 bps to 2.51%.
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  • Jul. 22, 2013, 8:43 AM
    The PowerShares Buyback Achiever Portfoliio (PKW) looks to be on pace to again beat the S&P 500 (SPY) this year, outperforming thus far by 770 bps. The PKW is also outperforming a number of companies at the top of the list of those buying back their own stock, including Qualcomm, Texas Instruments, AMEX, Lowe's, and PepsiCo.
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  • Jul. 22, 2013, 6:56 AM
    S&P 500 (SPY) and Nasdaq 100 (QQQ) futures are up by the tiniest of margins as stocks look for a 5th consecutive week of gains. Asia was up moderately overnight and Europe is mixed in late-morning trade. Gold continues to bounce, up 1.8% and back above $1,300/ounce. The 10-year Treasury yield is off a basis point at 2.47%.
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  • Jul. 19, 2013, 1:11 PM
    Nearly $18B flowed into U.S. equity funds (VTI) in the past week, the biggest gusher of money since June 2008, according to EPFR. About $6,5B of that amount went into the SPDR S&P 500 ETF (SPY). The same week saw more than $1B pulled out of investment grade (LQD) debt and Treasury funds, but $4B put to work in high yield (more on high yield's bounce). Emerging market debt funds (EMB) continue to suffer, seeing another $1.3B pulled.
  • Jul. 19, 2013, 12:24 PM
    The broadest of stock market index's - the Wilshire 5000 - has broken above long-term resistance, notes Kimble Chartling Solutions. Combined with an Advance/Decline line near an all-time high, it's two technical positives for the market (VTI, SPY, DIA). Scott Minerd yesterday suggested the A/D line's June swoon as reason for serious caution on the market for the rest of the summer.
    | 1 Comment
  • Jul. 19, 2013, 6:46 AM
    The QQQ's -1% premarket after weak results from Microsoft and Google, off 6.4% and 3.6% premarket, respectively. The SPY -0.3%. Asia was mostly lower overnight, led by Shanghai's 1.5% decline, and Europe is moderately lower in late morning action. The 10-year Treasury yield is off 1 bp at 2.51%.
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  • Jul. 18, 2013, 3:29 PM
    The stock market's (VTI, SPY, DIA) in for a rough summer, says Guggenheim's Scott Minerd as his favorite indicator - the advance/decline line - dropped more than the indices during June's decline, suggesting something bigger coming soon. The action is very similar to what we saw in 2007, he says. The deteriorating technical picture combined with worrying signs for the global economy makes this a rally to sell, not buy.
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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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