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U.S. stock futures are pointing to a mixed open early Wednesday, with tech and benchmark futures edging higher even as Brent crude surges toward $100 per barrel amid escalating U.S.-Iran military exchanges and ahead of Apple Inc.'s (NASDAQ:AAPL) annual product launch event.

Bloom Energy stock BE rose 8% on Tuesday after the company was selected for inclusion in the S&P 500, adding another potential catalyst for the energy company as demand for power solutions from artificial intelligence data centers continues to grow. S&P Dow Jones Indices announced after Friday's market close that Bloom Energy would join the benchmark index.

The Standard & Poor's 500 Index (SPX-7,718.60) May through July range has turned into an August-September consolidation, with roughly 200 SPX points separating the low and high ends of the ranges in both cases.

US stocks may have further room to rise despite elevated valuations, as the earnings and productivity gains generated by artificial intelligence are not yet fully reflected in equity prices, according to HSBC's Willem Sels. According to Bloomberg, Sels, global chief investment officer at HSBC Private Bank and Premier Wealth, said investors remain skeptical about the sustainability of corporate earnings growth, particularly among technology and semiconductor companies.

The S&P 500 Index and its ETFs, like VOO and SPY have moved sideways this month and are hovering slightly below their record highs. This consolidation, however, may turn into a calm before the storm ahead of a major comeback as evidenced by some major numbers, including its valuation and earnings growth.

The S&P 500 is on pace for another above-average performance in 2026. If interest rates increase, however, that could put investors in a more bearish mood.

U.S. stock futures are broadly lower early Tuesday as Wall Street returns from the long Labor Day weekend, facing historical post-holiday headwinds and surging oil prices.

The Trump administration's fiscal policy is at odds with its goals for interest rates and the bond market. Trump's latest trade threats raise the stakes for the economy.