SPY ETF Gains 0.69% Amid Fed Rate Cut Optimism and Tech Rally
The SPDR S&P 500 ETF Trust (SPY) climbed 0.69% on Wednesday, buoyed by growing speculation around Federal Reserve interest rate cuts and a pre-Thanksgiving surge in technology and retail stocks. Healthcare, Consumer Discretionary, and Communication Services sectors led gains, while Energy and Utilities lagged.
Trading volumes remained robust, with SPY recording $2 billion in net inflows over five days. Retail sentiment stayed positive, though hedge funds trimmed their exposure. Markets will observe a Thanksgiving closure on November 27, followed by an early session on November 28.
The S&P 500 mirrored SPY’s advance, rising 0.69%, while the Nasdaq 100 outperformed with a 0.87% gain. TipRanks’ data tools—currently discounted for Black Friday—highlight institutional positioning shifts ahead of year-end liquidity dynamics.
