Locator: 48334APPLE.
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Apple Wins Big
S&P Re-Shuffle
From the linked article:
Equity gauges from S&P Dow Jones Indices and FTSE Russell will be revamped, today, Friday, with this quarterly activity forecast to be the busiest in almost four years thanks to tech-driven market gyrations.
Apple Inc.’s weighting will be increased in key benchmarks after Warren Buffett’s recent share sale. At the same time, new S&P index-capping rules, which govern allocations for the largest companies, are scheduled to kick in.
With fresh demand among benchmark trackers for the likes of Apple and new additions to the S&P 500 — Palantir Technologies Inc. and Dell Technologies Inc. — computer and software shares will buck the broad trend of net outflows for other industries, Piper Sandler & Co. estimates show.
All told, tech names are expected to see $40 billion of net buying, with Apple making up the bulk.
The rebalance is set to round out a big week, between the Federal Reserve’s first interest-rate cut in four years and a quarterly episode known as triple witching.
With $5.1 trillion of derivatives tied to stocks and indexes scheduled to mature Friday, that can spur market turbulence as traders roll over their existing positions or start new ones.
Not on my bingo card today:
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