SPY Stock Recent News

It's a great day to be an investor in SPY, the SPDR S&P 500 ETF Trust.  As of market close on Oct. 15, 2024, SPY became the world's first ETF to surpass $600 billion in assets under management.

XLG invests in the top 50 S&P 500 companies, offering superior returns and lower volatility compared to SPY, driven by scale and innovation advantages. Investing in XLG provides exposure to leading firms like Apple and Microsoft, which are well-positioned to thrive in technological and economic shifts. The S&P 500, by contrast, still exposes investors to relatively less enticing companies with weaker margins and lower growth.

The S&P 500 NYSEARCA: SPY defies the odds and mounting risks to continue its trend. The market broke above critical support in late September and is on track to reach bull case targets near 6,000 by the year's end.

The major market indices continue to hit all-time highs, and investors have more of their investments allocated to equities than at any time since the Internet Boom era ended. This is happening just as the S&P 500, a good proxy for the overall market, has become substantially overvalued using various traditional valuation metrics.

MLPs and C-Corps operating in the midstream segment can provide differing exposures to the space. Midstream companies are either structured as MLPs or C-Corps.

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The ongoing debate on whether the economy will face a recession or achieve a soft landing continues, with mixed opinions from experts. Despite my longstanding recession prediction, the economic expansion has been extended due to delayed deployment of pandemic-era savings. Tariffs have not benefited American manufacturing, leading to higher input costs, disrupted supply chains, and a slump in manufacturing jobs and output.

Despite fears of an AI bubble, current financial robustness and valuation of companies suggest we are not in a bubble. The reduction in euphoria over AI companies' results combined with the strong rise in the S&P 500 are not signs of a bubble. The S&P 500's valuation is stretched, and a regression to a 15x P/E ratio could present a good buying opportunity.

The stock market was able to rally last week despite the larger-than-expected 0.50% rate cut by the FOMC. As is often the case the averages gyrated after Fed Chair Powell's press conference and higher open the Dow Industrials closed down 293 points.

Gold has been on a tear. The precious metal has forged multiple new record highs so far this year.