Dow rises 250 points, S&P 500 eyes fresh record
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Thursday closed up +0.07%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.70%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.25%. September E-mini S&P futures (ESU25 ) rose +0.
The S&P 500 rallied to a new record close on Wednesday afternoon following new developments on the tariff front.
Investor demand for yield in the US is helping fuel growth in the market for S&P 500 Index dividend futures and options — a niche corner of the derivatives world where America has long trailed Europe.
With the Fed's Open Market Committee meeting next week, the CME Group's FedWatch Tool is projecting the Fed will continue to hold the Federal Funds Rate in a target range of 4.25-4.50% until its 17 September (2025-Q3) meeting, when it is expected to cut the rate by a quarter percent.
Block (NYSE: XYZ) has surged by over 7% this morning after the S&P Dow Jones Indices announced that this company is joining the S&P 500 Index effective Wednesday. This has pushed the stock above its 200-day moving average for the first time since spring and has option desks buzzing that it could break above $80.
The brokerage firm’s stock has risen 334% over the past year and Robinhood now has a market capitalization of $92 billion.
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Ryan Detrick, chief market strategist at the Carson Group, uncovered an eye-popping stat about the current state of play.
If the S&P 500 has been such a great investment, surely adding a few smart tweaks should make it even better, right? That’s been the theory behind dozens of factor-based spinoffs.
There has been ongoing speculation that Robinhood and AppLovin could join the S&P 500 because they are the largest U.S. companies based on market capitalization that aren’t now in the benchmark index. AppLovin is valued at $123 billion and Robinhood at $93 billion.
The S&P 500 is at an all-time high, but that doesn’t necessarily mean it’s a bad time to invest. The S&P 500 is at its all-time high as I'm writing this, and it might seem like a bad time to put your money in index funds that track the popular benchmark.