321.86 -0.12 (-0.04%)
After hours: 7:59PM EDT
|Bid||321.82 x 1300|
|Ask||321.85 x 800|
|Day's Range||319.27 - 323.04|
|52 Week Range||218.26 - 339.08|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-0.32%|
|Beta (5Y Monthly)||1.00|
|Expense Ratio (net)||0.09%|
New weekly jobless claims and continuing claims are expected to decline yet again in the Labor Department’s report Thursday, even as a surge in US virus cases threatens the pace of the labor market’s recovery.
By Yasin Ebrahim
The U.S. lender jumped 1.4% as its trading revenue doubled in the second quarter, driven by big swings in stock and bond markets since March. Morgan Stanley gained 0.6% and Bank of America 1.1% ahead of their results on Thursday, which would wrap up earnings from the big six U.S. banks. Energy, industrials and materials led gains among the major S&P sectors.
Top news and what to watch in the markets on Wednesday, July 15, 2020.
Senior Investment Strategist Steve Lipper details how recent Fed moves could potentially benefit small-caps Continue reading...
Frenzied investors have driven the Nasdaq Composite Index to the top of a trend channel in place for nearly a decade. Is this the perfect storm leading to a Nasdaq crash, as some predict? The Nasdaq-100 chart, below, shows a different channel.
"There are renewed expectations that the Pfizer vaccine will be ready for approval by the end of October, which is sooner than expected - so that's very good news," said Thomas Hayes, managing member at Great Hill Capital LLC in New York. Merger news also perked up investors as Analog Devices Inc announced a $21 billion deal to buy rival Maxim Integrated Products Inc , sending its shares up 13.0%. Pepsi Co gained 1.5% as it benefited from a surge in at-home consumption of salty snacks such as Fritos and Cheetos during lockdowns.
Market participants are bracing for the start of what will likely be the weakest corporate earnings season since the global financial crisis, as the coronavirus pandemic and measures to contain it hit business activity especially hard in the second quarter.
In a clever and useful analysis, Ronen Israel, Kristoffer Laursen, and Scott Richardson of AQR use the residual income approach to break down how the value of a company’s stock depends on three components: its book value, the value of its predictable earnings, and the value of its speculative earnings. The first component, the book value, can […]
Stocks rose Friday, and the Nasdaq Composite hit yet another record high, after Gilead Sciences announced that its remdesivir treatment reduced the risk of death for Covid-19 patients, based on new data from the company.
In a Yahoo Finance Premium webinar, Brian Shannon, CMT discusses why trading legends missed the bulk of the post-Covid stock market rally and explains how traders can avoid common pitfalls, such as impulsive trading, by having a trading plan and knowing their time frame.
The SPDR S&P 500 ETF (NYSEARCA:SPY) is often highlighted for its status as the world's largest exchange-traded fund, but the SPY ETF has more to offer besides heft. At a time when some fund options are increasingly complicated, SPY's simplicity stands out.Source: Shutterstock Let's start with the basics. The SPY ETF comes with a modest fee of 0.0945% per year, or $9.45 on a $10,000 investment. As its name implies, it follows the S&P 500 -- one of the world's most widely observed equity benchmarks.To be precise, SPY holds 505 stocks, owing to multiple share classes for constituents such as Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) and a few others.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe S&P 500 is weighted by market capitalization, meaning the largest U.S.-based company by market value, currently Microsoft (NASDAQ:MSFT), is the largest component. Then it goes Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN) and so on down the line. Due to the ascent of Microsoft, Apple, Amazon and Alphabet into the $1-trillion club, SPY's top 10 holdings combine for roughly 29% of the fund's weight.That's near historical highs for the S&P 500. All About Market Cap WeightingAs the ETF industry has evolved, so has the way index providers weight equities within benchmarks. Now investors can get their hands on hundreds of ETFs that employ weighting methodologies such as equal weight, weighting by factors such as growth or value, and dividend yield. Some indices go even further, scoring stocks based on profitability, cash flow or management-related criteria.The selling point for many of these ETFs was borne out of the criticism of market capitalization weighting. Market cap weighting itself was largely borne out of the tech bubble of 2020. Critics assert that while cap weighting does represent the market's collective wisdom, the strategy can also lead late investors into overvalued stocks. * The 7 Best Stocks to Invest in Right Now Another frequently levied critique of cap-weighted strategies is that investors miss out on the benefits of the small size factor. Though more volatile, small-cap equities offer better rates of growth and historically outpace large-caps over long holding periods."Companies with smaller relative market caps, particularly firms that are of higher quality, have historically been associated with returns that beat a broad market index," according to Morningstar. Is SPY's Mega-Cap Status So Bad?The SPY isn't just a large-cap fund. It's well into mega-cap territory -- the weighted average market value of its holdings is $409 billion.That's not a knock on the SPY ETF. Rather, it's worth noting that cap-weighted indices and their corresponding funds are usually cost-efficient. Because of this, they're harder to beat."Market efficiency is often cited as a big reason why market-cap-weighted indexes, and low-cost funds that track them, are so notoriously difficult to beat. Any stock's price, and its corresponding weight, should incorporate all known information -- including its current value and expected return -- limiting the chance that anyone can gain an advantage."How does this translate to SPY's performance? Say the S&P 500 jumps 20% in a given year. That 20% will be the return SPY investors get, minus the fund's annual fee. The Bottom Line on the SPY ETFLike any fund that weights stocks by market capitalization, SPY is reactive. This means the weights assigned to rising stocks increase after the stock price increases. Conversely, faltering stocks are assigned lower weights as they decline, not in advance of that downside.So SPY isn't predictive. Not much in equity markets is. Still, the ETF does an efficient job of highlighting what's working today in equity markets. For example, technology stocks represent 27.5% of the fund's weight because investors have long favored that sector. On the other hand, financials are struggling this year. The sector entered 2020 as the third-largest exposure in SPY, but has since been relegated to the fifth spot.For alpha-hungry investors, augment a stake in SPY with growthier or riskier fare. However, for new investors or those that don't want to do a lot of leg work, the fund is a sensible option as a cornerstone portfolio holding.Todd Shriber has been an InvestorPlace contributor since 2014. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post The SPY ETF Proves Simpler Is Often Better appeared first on InvestorPlace.
Avenue Capital Group CEO and Milwaukee Bucks Co-Owner, Marc Lasry, joins 'Influencers with Andy Serwer' to discuss the NBA restart.
Each day, Benzinga takes a look back at a notable market-related moment that happened on this date.What Happened? On this day in 1832, President Andrew Jackson vetoed a bill to extend the federal charter of the Bank of the United States -- a move that eventually led to economic hardship.What Else Was Going On In The World? The 24 states of the union housed about 7.4 residents per square mile. Postage delivery cost just 25 cents for shipments over 400 miles, and butter cost about 21 cents per pound.The Collapse Begins: The BUS, which had been rechartered from Alexander Hamilton's first centralized bank, effectively lost its control over federal banking and its role in managing currency supply and interest rates."Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence, it would be more formidable and dangerous than the naval and military power of the enemy," Jackson said at the time.State-chartered banks were then empowered to issue currency, and the resulting bevy of bills soon caused price inflation, an economic bubble and, eventually, the panic of 1837.After the bubble burst in 1836, more than 600 banks failed, and unemployment spiked to 25%.See more from Benzinga * Weekly Jobless Report Improves As More US Businesses Reopen * 'Whoa': May Jobs Report Much Stronger Than Expected, Unemployment Rate Falls To 13.3% * US Initial Jobless Claims Fall Week-Over-Week, Coronavirus 'Continues To Weigh On Businesses Of All Sizes'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Stocks abruptly turned negative Thursday as fears over the economic outlook following an increase in coronavirus cases resurged. The Dow and S&P 500 wiped out their week to date gains.