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SPDR S&P 500 ETF tops record $500 bln in assets as Nvidia soars
Reuters
·
1y ago
Medial
Shares of chipmaker Nvidia have experienced a significant rise, contributing to the SPDR S&P 500 ETF Trust becoming the first ETF to exceed $500 billion in assets. Currently holding around $502 billion in assets, the fund's success is largely attributed to the surge in Nvidia's stock, which has witnessed a nearly 60% increase this year alone. However, experts suggest that this is a result of Nvidia's growth rather than fresh demand for the ETF. The dominance of the SPDR ETF may be facing challenges from competing broad market ETFs offered by BlackRock and Vanguard, which have experienced faster growth in recent years.
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BlackRock's assets soar to fresh record high in second quarter of 2024
VCCircle
·
1y ago
Medial
BlackRock, the world's largest money manager, reported a record high of $10.65 trillion in assets under management in the second quarter of 2024. This increase was driven by rising client asset values and strong inflows into the company's ETFs. The S&P 500's rise of about 4% in the reported quarter also contributed to BlackRock's growth. The company registered total net inflows of $81.57 billion, with its ETFs capturing the majority of the flows. Additionally, BlackRock's revenue from technology services rose 10% as demand for its investment risk management platform, Aladdin, remained high.
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Democratic ETF outpaces Republican peer on Big Tech bets
Reuters
·
1y ago
Medial
Since its launch last year, the Subversive Unusual Whales Democratic ETF, which tracks the stock trades of Democratic lawmakers, has outperformed a Republican-oriented fund. The Democratic ETF has seen a surge of nearly 35% compared to a 25.8% gain for the S&P 500 index. The success of the Democratic fund can be attributed to its focus on growth stocks and underweighting energy, while the Republican fund leans towards value stocks. The Democratic fund has also attracted more net inflows this year.
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Funds punished for owning too few Nvidia shares after stunning 230% rally
Economic Times
·
1y ago
Medial
Across nearly 330 mutual funds benchmarked to the S&P 500 or a similar index, only 15% held an above-index weight in Nvidia, according to a Morningstar analysis of the funds' most recent regulatory filings. Among those funds that held a below-average weight in Nvidia, 85% underperformed the index so far this year, Morningstar's data showed.
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Get ready for more AI mania this earnings season
Livemint
·
1y ago
Medial
Artificial intelligence (AI) is expected to take the spotlight during the upcoming earnings season, with tech giants such as Meta Platforms, Alphabet, Amazon.com, Micron, Microsoft, and Nvidia projected to drive significant net income growth. This comes as the S&P 500 is set to record an anticipated 8.8% figure for earnings growth, making it the strongest quarter since early 2022. However, the rest of the market may experience lackluster results, with banks and non-AI sectors forecasted to have smaller earnings. While AI-related stocks have seen significant investment, there are concerns about the overall fragility of the recovery trend.
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The S&P 500 is eyeing a new record. Why the bond market still holds power.
Livemint
·
1m ago
Medial
The S&P 500 is approaching a new record but investors remain cautious. The index's high valuation exposes it to negative surprises, with U.S. economic growth facing threats from tariffs and geopolitical tensions, potentially leading to higher prices and slowed growth, and raising concerns of stagflation. Analysts worry this could impact company profits as consumer spending might decrease. As a result, despite the market's poised record, investors' enthusiasm is tempered by these economic uncertainties.
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Michael Burry, famous for 'Big Short,' places bearish bet on semiconductor ETF
Economic Times
·
1y ago
Medial
Hedge fund manager Michael Burry, known for his successful bets against the US housing market during the financial crisis, has added a bearish options position on semiconductors in the third quarter. His fund, Scion Asset Management, purchased put options with a notional value of $47.4 million against the iShares Semiconductor ETF. Burry's filings also revealed that his fund no longer held bearish options on the Nasdaq 100 and S&P 500. The current performance of Burry's options position is unknown, as specific details such as strikes, purchase prices, and expiration dates were not disclosed.
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Grayscale bitcoin ETF saw record daily outflows as bitcoin tumbled
Economic Times
·
1y ago
Medial
Bitcoin experienced a selloff, resulting in record outflows from Grayscale's Bitcoin Trust. The outflows from Grayscale's ETF reached a daily record of $642.5 million on Monday, as investors unloaded holdings. Since converting into an ETF on January 10th, the Grayscale fund has witnessed outflows totaling approximately $12 billion. However, the fund's assets currently stand at $27.2 billion, mitigating some of the losses. Nine new spot bitcoin ETFs approved by the SEC have seen inflows of money since their launch. Profit-taking and redemptions are expected for the largest and most expensive bitcoin ETF.
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Nvidia and other tech stocks stabilise a day after sharp drops
Economic Times
·
6m ago
Medial
Nvidia and other US tech stocks stabilized, recovering after a sharp drop due to doubts about AI investment needs. Nvidia rose 2.3% following a significant 17% plunge. Futures for S&P 500 and Nasdaq increased slightly, and several big losers like Broadcom and Oracle regained some losses. The sell-off was triggered by a Chinese AI startup's announcement, impacting global markets. Major companies continue preparing for imminent earnings reports, closely watched by investors.
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AI frenzy puts Nvidia briefly ahead of Amazon in market value
Economic Times
·
1y ago
Medial
On Monday, Nvidia briefly surpassed Amazon.com in market capitalization, becoming the fourth most valuable US company. The surge in Nvidia's market value to $1.82 trillion was driven by the excitement surrounding artificial intelligence. This marks the first time Nvidia has been more valuable than Amazon since 2002. Investors are eagerly awaiting Nvidia's quarterly results on February 21, looking for strong performance in the AI sector. Nvidia's shares have gained 47% this year, making it the top performer in the S&P 500.
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Equity risk premium dips globally in first half of 2024
Money Control
·
1y ago
Medial
The equity risk premium for India has decreased from 7.81 percent at the beginning of the year to 6.79 percent. Meanwhile, the S&P 500 index has gained 17 percent in the first half of this year, despite the downward trend of equity risk premiums globally. The equity risk premium for the S&P 500 index is currently 4.11 percent, down from 4.60 percent at the start of the year.
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