Record-High S&P 500 Propels SPY ETF To $500-Billion Milestone, Nvidia Tops $2 Trillion, Broadcom Surpasses Tesla
The U.S. stock market continues its unchallenged bull run, with Wall Street notching yet another week of record-breaking highs for the S&P 500 and Nasdaq 100 indices.
This ongoing surge demonstrates the remarkable strength of the bullish sentiment, with stocks marking their 16th positive week out of the last 18. Since late October, this rally has propelled the S&P 500 index by 25% and the Nasdaq 100 by 30%.
The momentum on Wall Street has also catapulted the SPDR S&P 500 ETF Trust (NYSE:SPY) – the world’s largest exchange traded fund – to a historic milestone, surpassing $500 billion in assets under management for the first time ever.
Trailing behind the SPY are BlackRock’s iShares Core S&P 500 ETF (NYSE:IVV) with $442 billion, and the Vanguard S&P 500 ETF (NYSE:VOO) with $413 billion under management.
Other notable milestones were achieved among S&P 500 components during Friday’s session.
Nvidia Corp (NASDAQ:NVDA) reached a market capitalization exceeding $2 trillion, Eli Lilly and Company (NYSE:LLY) surpassed $700 billion and Broadcom Inc. (NASDAQ:AVGO) overtook Tesla Inc. (NASDAQ:TSLA) to become the eighth-most valuable company.
Chart: SPY Is First ETF To Reach $500 Billion In AUM
