![SPY ETF Reaches 0-Billion Milestone Driven by Record-High S&P 500, Nvidia Surpasses Trillion, Broadcom Overtakes Tesla – SPDR S&P 500 (ARCA:SPY) SPY ETF Reaches 0-Billion Milestone Driven by Record-High S&P 500, Nvidia Surpasses Trillion, Broadcom Overtakes Tesla – SPDR S&P 500 (ARCA:SPY)](https://cdn.benzinga.com/files/images/story/2024/SP500.jpeg?width=1200&height=800&fit=crop)
March 1, 2024 4:05 PM | 2 min read
The Most Important Earnings Report of the Year?
Gianni Di Poce gives the low-down on what he believes is the most important earnings report for the market today. Get his expert insights weekly, plus stock picks with Benzinga’s Insider Report Try it today for $0.99.
The U.S. stock market continues its unchallenged bull run, with Wall Street notching yet another week of record-breaking highs for the S&P 500 and Nasdaq 100 indices.
This ongoing surge demonstrates the remarkable strength of the bullish sentiment, with stocks marking their 16th positive week out of the last 18. Since late October, this rally has propelled the S&P 500 index by 25% and the Nasdaq 100 by 30%.
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The momentum on Wall Street has also catapulted the SPDR S&P 500 ETF Trust (NYSE:SPY) – the world’s largest exchange traded fund – to a historic milestone, surpassing $500 billion in assets under management for the first time ever.
Trailing behind the SPY are BlackRock’s iShares Core S&P 500 ETF (NYSE:IVV) with $442 billion, and the Vanguard S&P 500 ETF (NYSE:VOO) with $413 billion under management.
Other notable milestones were achieved among S&P 500 components during Friday’s session. Nvidia Corp (NASDAQ:NVDA) reached a market capitalization exceeding $2 trillion, Eli Lilly and Company (NYSE:LLY) surpassed $700 billion and Broadcom Inc. (NASDAQ:AVGO) overtook Tesla Inc. (NASDAQ:TSLA) to become the eighth-most valuable company.
Chart: SPY Is First ETF To Reach $500 Billion In AUM
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Top-Performing S&P 500 Stocks Friday
The following are the five top-performing stocks within the S&P 500 on Friday:
Stock Name | Sector | Price | 1-Day Return % |
---|---|---|---|
NetApp, Inc. (NASDAQ:NTAP) | Information Technology | 106.93 | 19.98% |
The Cooper Companies, Inc. (NASDAQ:COO) | Health Care | 102.07 | 9.05 |
Western Digital Corporation (NASDAQ:WDC) | Information Technology | 63.99 | 7.61 |
Broadcom Inc. (NASDAQ:AVGO) | Information Technology | 1,392.56 | 7.08 |
DexCom, Inc. (NASDAQ:DXCM) | Health Care | 121.19 | 5.32 |
Top 10 Performing S&P 500 Stocks Year-To-Date
The top-performing S&P 500 stocks year-to-date are as follows:
Company | YTD Return | Market Cap |
NVIDIA Corporation | 65.43% | $2,016B |
Constellation Energy Corporation (NASDAQ:CEG) | 44.19% | $53.37B |
Meta Platforms, Inc. (NASDAQ:CEG) | 41.97% | $1,281.15B |
Advanced Micro Devices, Inc. (NASDAQ:CEG) | 36.55% | $325.24B |
Eli Lilly and Company | 33.72% | $701.64B |
Uber Technologies, Inc. (NYSE:UBER) | 31.30% | $167.86B |
Applied Materials Inc. (NASDAQ:AMAT) | 29.60% | $174.53B |
Ralph Lauren Corporation (NYSE:RL) | 28.68% | $11.86B |
Tapestry, Inc. (NYSE:TPR) | 28.57% | $10.85B |
Catalent, Inc. (NYSE:CTLT) | 28.18% | $10.34B |
Photo via Shutterstock.
The Most Important Earnings Report of the Year?
Gianni Di Poce gives the low-down on what he believes is the most important earnings report for the market today. Get his expert insights weekly, plus stock picks with Benzinga’s Insider Report Try it today for $0.99.
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