The SPDR S&P 500 ETF Trust (SPY) rose 0.99% on Friday, as the New York Fed President John Williams’ speech revived hopes of an interest rate cut in December.
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On Monday, the SPY ETF was up 1.07% at the time of writing, as the Thanksgiving holiday week started on a positive note and saw artificial intelligence (AI) stocks like Alphabet (GOOGL) trending higher.
Overall, the SPY ETF, which tracks the S&P 500 Index (SPX), has risen more than 13% year-to-date.
Fund Flows and Sentiment
SPY’s 5-day net flows totaled $3 billion, showing that investors’ capital flowed into the fund over the past five trading days. Meanwhile, its three-month average trading volume is 79 million.
SPY’s Price Forecast
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, SPY is a Moderate Buy. The Street’s average price target of $788.83 for the SPY ETF implies an upside potential of 18.31%.
Currently, SPY’s five holdings with the highest upside potential are:
Meanwhile, its five holdings with the greatest downside potential are:
- Albemarle Corporation (ALB)
- Expeditors International of Washington (EXPD)
- Paramount Skydance (PSKY)
- Incyte (INCY)
- W. R. Berkley (WRB)
Revealingly, SPY’s ETF Smart Score is a seven, implying that this ETF is likely to perform in line with the broader market.
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