Whenever the S&P 500 (IVV) adds a company to the index, the stock rises. The Trade Desk (TTD) will join the index on July 17. It will replace ANSYS (ANSS), a digital advertising platform. Synopsys (SNPS) is buying ANSYS.
TTD stock gained 6.59% on Tuesday. If history repeats itself, it might keep rising from here. Palantir (PLTR), Robinhood (HOOD), and DataDog (DDOG) are some of the notable firms added to the index that subsequently traded higher. Super Micro Computers (SMCI), however, did not rise steadily. Filing delays hampered the SMCI stock performance last year. But SMCI stock is on the mend. Shares bottomed at below $20 to close at $53.17.
In the asset management sector, State Street (STT) fell by 7.29% on July 15. It is forecasting total fee revenue to grow by 5% - 7%, up from a 3% - 5% prior outlook. Net interest income growth is flat Y/Y. STT stock fell in sympathy with bank stocks. Wells Fargo (WFC) lost 5.48% after posting Q2 results.
BlackRock (BLK) dropped by 5.88%, setting a likely stock peak at $1,112.13. It posted net inflows of $68 billion in Q2. Despite record inflows for iShares ETFs, BLK stock fell as investors booked profits.
BLK stock is a good long-term holding. Investors should consider accumulating shares whenever the price drops.
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