VOO Crosses $1 Trillion as Top 10 S&P 500 Names Hit 40 Percent Index Weight

A seemingly endless appetite for buying US stock dips has propelled Vanguard Group’s S&P 500-tracking ETF past $1 trillion in assets, making it the first fund of its kind to reach a milestone once thought unimaginable for the ETF industry.

Marvell now ranks No. 22 in the S&P 500 with a $269 billion market capitalization that’s higher than those of PepsiCo and T-Mobile.

A renewed advance in oil sent stocks lower as bond yields rose on concern that an escalation of hostilities between the US and Iran will hinder prospects for a peace deal. As equities fell from all-time highs, the S&P 500 snapped a nine-day winning streak. Tech shares led losses, with a closely watched ETF tracking software firms dropping 3.5%. Dean Curnutt, founder at Macro Risk Advisors, discusses how the markets are reacting to geopolitical tensions and AI investment interest. (Source: Bloomberg)

Headlines: US president Trump reaffirms that Iran has agreed to not have a nuclear weapon Iran reserves right to defend against any country permitting US attacks EU says latest US tariffs on forced labour grounds are unjustified USD/JPY continues to poke and prod at intervention strike zone BOJ governor Ueda says will continue to raise policy rate if baseline outlook holds ECB policymaker Elderson says prolonged war increases likelihood of second-round effects SNB Chairman Schlegel says medium-term inflation pressure is basically unchanged Eurozone business activity struggles further in May amid surging price pressures UK May final services PMI 49.3 vs 47.9 prelim How likely is a U.S. debt crisis? Markets: WTI crude up 2% to $95.70 European indices lower, DAX down 0.9% while CAC 40 down 0.4% S&P 500 futures down 0.1% USD a little higher, USD/JPY volatility swings after nearing 160 US 10-year yields up 2.8 bps to 4.48% Gold down 0.5% to $4,463 It was a more pensive session as we continue to wait on whether or not the US and Iran will strike a deal this week. But by the look of things, it seems that both sides are still finding it hard to meet in the middle especially on key terms. US president Trump came out to reaffirm that Iran has agreed to not have a nuclear weapon. But as a reminder, this notion of a baseline promise was denied by Tehran previously last week already. Besides that, he also said that the US naval blockade may stay the course until Labour Day. If so, that means it will be another three more months of this with the naval blockade being lifted supposed to be a key condition for Iran in this framework agreement. So, make what you will of that. Markets remain unfazed for the most part despite the mix of headlines. However, oil prices are continuing to push up with WTI crude up 2% to $95.70 on the day. In the equities space, we are seeing a more tepid mood with European indices falling off while US futures are sitting marginally lower on the day. Ge