The U.S. stock market continued its upward trajectory on Wednesday, with two prominent exchange-traded funds (ETFs) hitting record highs. The Vanguard S&P 500 ETF (VOO), which tracks the performance of the S&P 500 Index, reached $527.23 shortly after 10 a.m. ET, surpassing its previous peak. This ETF encompasses approximately 500 large-cap stocks, providing investors with broad exposure to the U.S. equity market.
Simultaneously, the Vanguard Total Stock Market Index Fund ETF Shares (VTI), which follows the CRSP US Total Market Index and includes a wider range of stocks, also reached a new high of $283.12. These impressive gains mirrored the S&P 500 Index’s own record-breaking performance, hitting 5,471.03 in the early morning trading hours.
Driving the S&P 500’s climb were notable gains from Vistra Corp. (VST) and Hewlett Packard Enterprise Co. (HPE). Vistra Corp. emerged as the top gainer, soaring 6.59% to $119.91. Hewlett Packard Enterprise Co. followed closely behind, surging 4.63% to $19.75.
While the S&P 500 and its associated ETFs enjoyed a strong day, other major indices displayed a mixed performance. The tech-heavy Nasdaq Composite Index slipped slightly by 0.03% to 18,069.36, while the Nasdaq 100 Index edged up 0.05% to 19,954.31. The Dow Jones Industrial Average, however, experienced a more significant decline, falling 0.66% to 41,928.02 by mid-afternoon.
The impressive gains in Vistra and Hewlett Packard also triggered a ripple effect in ETFs that hold these companies. The Virtus Reaves Utilities ETF (UTES), which includes Vistra, rose 1.19%. ETFs tracking Hewlett Packard, such as the First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY), gained 0.21%. Other ETFs that witnessed gains include the BNY Mellon Global Infrastructure Income ETF (BKGI), the TCW Transform Systems ETF (NETZ), the Roundhill Generative AI & Technology ETF (CHAT), and the FT Raymond James Multicap Growth Equity ETF (RJMG).
This positive momentum in the stock market signals a continued sense of optimism among investors, particularly in the context of the S&P 500 reaching an all-time high. The performance of the Vanguard ETFs further underscores the robust growth of the U.S. equity market and its enduring appeal to investors seeking diversified exposure.
