Invesco, Vistra, Dell, Coinbase Trend In Midday Trade: S&P 500 Hits Record High

The benchmark S&P 500 index reached a record high on Friday, with stocks such as Invesco (IVZ), Vistra (VST), Dell Technologies (DELL), and Coinbase (COIN) contributing to the index's rise during the midday trade.

The S&P 500 traded flat at the time of writing, paring intraday gains that took it to a new all-time high.

At the time of writing, Invesco was the top gainer on the index, surging nearly 13% after the asset manager filed a proxy statement to convert Invesco QQQ Trust Series 1 to an open-ended fund from a unit investment trust. This would allow the company to unlock a revenue stream.

With nearly 60 S&P 500 companies having reported their latest quarterly earnings so far, a CNBC report stated that 86% of them have beaten Wall Street expectations.

Dell’s stock popped nearly 6% after BofA Securities raised its price target on the shares on AI growth prospects to $165 from $155, according to The Fly.

Major companies among the top gainers on the S&P 500 include Abbott Laboratories, Tesla, Coinbase, and Constellation Energy.

On the other hand, top losers on the index include Elevance Health, Netflix, 3M, and Exxon Mobil.

Broadly, U.S. equities edged lower in Friday’s midday trade, despite opening in the green.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was down 0.18% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, declined 0.22%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

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