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Sizing Up the S&P 500

  • S&P 500 back above 50-day MA. MACD turns higher
  • More index members above 20-day MA than above 50-day MA
  • Intermarket:
    • 10-year Treasury stays below key level from November. A lower weekly high?
    • Cboe volatility index back near lows of 2024
SPDR S&P 500 ETF (SPY), daily chart, with select indicators and patterns.

News, Views & Trends

  • Non-farm payrolls, unemployment, wages lower than expected in April
  • Fed speakers get more dovish:
    • John Williams: Next move is likely to be lower
    • Thomas Barkin: Current high rates “can take the edge off demand in order to bring inflation back to our target.”
  • Jim Paulsen: Commodity drop to cool inflation
  • Non-cyclicals outperform: utilities, biotechnology
  • Transports, energy starting to lag

Upcoming Events

  • Fri 5/10: Consumer sentiment, Michael Barr speech
  • Tue 5/14: PPI
    • Earnings: HD
  • Wed 5/15: **CPI**, retail sales, crude-oil inventories
    • Earnings: CSCO
  • Thu 5/16: Initial jobless claims, housing starts, building permits
    • Earnings: WMT, AMAT, BIDU

Standardized Performances for ETF mentioned above

ETF1 Year5 Years10 Years
SPDR S&P 500 ETF (SPY)+20.69%+70.73%+166.57%
As of April 30. Based on TradeStation Data.

Exchange Traded Funds (“ETFs”) are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus. 

Performance data shown reflects past performance and is no guarantee of future performance. The information provided is not meant to predict or project the performance of a specific investment or investment strategy and current performance may be lower or higher than the performance data shown. Accordingly, this information should not be relied upon when making an investment decision. 

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