A staggering rise in shares of chipmaker Nvidia helped the SPDR S&P 500 ETF Trust become the first exchange traded fund to top $500 billion in assets, market participants said. A sizeable chunk of those gains came from the surge in Nvidia, whose heavy weighting in the S&P 500 gives it an outsized influence on the index’s moves. “This is a result of Nvidia climbing to new highs rather than of fresh demand for the ETF,” said Todd Rosenbluth, chief ETF strategist at VettaFi.
Technology stocks have been on a tear. The Nasdaq-100 index, which includes the top 100 stocks on the tech-heavy Nasdaq exchange, is up 55.13% in the past year. The tech sector is up 45.7% in the past...
New to The Street Leadership Series Announces Its Interviews of Three Business Leaders, David J. Friedman and War Hippies' Scooter Brown and Donnie Reis...