ETF Introduction: SPY — SPDR S&P 500 ETF Market News Video - Monday, April 6, 5:28 PM
Description to the S&P 500 SPDR ETF, traded under ticker symbol SPY: This ETF is a fund that aims to correspond to both the price and yield performance of the S&P 500 Index, before expenses. The S&P 500 Index is composed of five hundred selected stocks trading in the U.S., spanning over 20 separate industry groupings. The S&P 500 index was first published in 1957 and is widely followed as one of the key indices for large cap American stocks. The index is maintained by Standard & Poor's, with the components selected by committee to be representative of the industries in the United States economy.
Stock markets jumped after the unemployment rate rose on hopes that the Fed will continue pumping up the economy. Those gains may fade this week.
What a Difference a Day Makes
After a 1.27% gain on Friday, SPDR S&P 500 (NYSE: SPY) snapped a two-week losing streak with a gain of 0.83% for the week. Friday's rally was spurred by new signs of a weak economy. In the long term, a weak economic outlook is not a solid foundation for a bull market.
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