SPY ETF Gains 0.19% Amid Fed Uncertainty and Weak Manufacturing Data
The SPDR S&P 500 ETF Trust (SPY) edged up 0.19% on Monday, mirroring the S&P 500's modest 0.17% rise, as markets digested mixed signals from the Fed and lackluster economic indicators. Consumer Discretionary, Technology, and Healthcare sectors led gains, while Real Estate and Materials lagged.
Federal Reserve officials Lisa Cook, Austan Goolsbee, and Mary Daly poured cold water on hopes for a December rate cut, creating headwinds for risk assets. The tech-heavy Nasdaq 100 (NDX) outperformed with a 0.44% gain, suggesting continued appetite for growth-oriented exposures despite macroeconomic crosscurrents.
Investors funneled $2 billion into SPY over five days, demonstrating resilience in equity demand amid the ongoing government shutdown and disappointing manufacturing figures. All eyes now turn to upcoming ADP employment data and Services PMI readings for clues about the economy's trajectory.
