VST - S&P 500 Hits 5400 Level: 5 Top-Performing Stocks in ETF | Benzinga
The S&P 500 Index has been on an incredible rally this year, achieving new milestones and gaining 13.6% so far. The index has now crossed the 5,400 level for the first time after hitting the 5,300 threshold last month, underscoring strong confidence. The latest leg of the rally came on cooler-than-expected inflation data despite hawkish commentary from the Fed.
SPDR S&P 500 ETF Trust (ARCA:SPY), the proxy version of the S&P 500 Index, has gained 13.3% in the year-to-date timeframe. While many stocks powered the ETF, we have highlighted five that have been leading the way higher. These are Super Micro Computer Inc. (NASDAQ: SMCI), Nvidia Corporation (NASDAQ: NVDA), Vistra Energy Corp. (NYSE: VST), Constellation Energy Corporation (NASDAQ: CEG) and First Solar Inc. (NASDAQ: FSLR).
Inflation in the United States cooled down in May for the second consecutive month. The Consumer Price Index rose 3.3% year over year in May, down from an annual growth of 3.4% in April. On a monthly basis, prices held flat for the first time since July 2022. Easing inflation indicates that the economy is stabilizing, and interest rates may be declining.
In the latest FOMC meeting concluded yesterday, U.S. policymakers penciled in just one rate cut this year and foresee four cuts in 2025. The Fed altered ...