Core Insights - S&P Dow Jones Indices has launched SPICE® IndexBuilder™, a self-service platform for designing, testing, and ordering custom indices, aimed at enhancing client-led innovation and reducing time-to-market [1][2]. Group 1: Product Features - SPICE IndexBuilder allows users to prototype, backtest, analyze, and order customized index solutions within a unified interface [1]. - The platform provides access to S&P DJI's extensive library of index attributes, enabling comprehensive customization of existing indices or bespoke solutions [6]. - Users can customize key parameters such as return types, currencies, weighting methodologies, and exclusions to align with specific investment strategies [6]. Group 2: Strategic Importance - The introduction of SPICE IndexBuilder reflects S&P DJI's commitment to empowering clients with professional-grade index creation tools, enhancing flexibility while ensuring data quality [2]. - Custom indexing is increasingly critical for investors implementing specific strategies, and this platform supports innovation across diverse asset classes and geographies [4][2]. Group 3: Operational Efficiency - The platform enables fast backtesting, allowing users to generate detailed historical performance analytics quickly, facilitating swift evaluation of index concepts [6]. - Clients can submit index creation requests with a single click once finalized, which accelerates the time-to-market for new indices [6].

Core Insights - The July 2025 results indicate a significant slowdown in the U.S. housing market, with national home prices rising only 1.7% year-over-year, down from 1.9% in June, marking one of the weakest annual increases in the past decade [2][9] - Home values have stagnated when adjusted for inflation, resulting in a real housing wealth decline for homeowners for the third consecutive month [2][8] - The housing market is experiencing a shift from the rapid price increases seen during the pandemic to more modest growth rates, aligning closer to inflation levels [8] Year-over-Year Performance - The S&P Cotality Case-Shiller U.S. National Home Price NSA Index reported a 1.7% annual gain for July, down from 1.9% in June [9] - The 10-City Composite increased by 2.3%, down from 2.7%, while the 20-City Composite posted a 1.8% gain, down from 2.2% [9][12] Geographic Trends - New York led major metros with a 6.4% annual gain in July, followed by Chicago at 6.2% and Cleveland at 4.5% [4][10] - Conversely, several Sun Belt and West Coast markets, such as Tampa and Phoenix, are experiencing declines, with Tampa down 2.8% and Phoenix down 0.9% year-over-year [4][10] Monthly Changes - The U.S. National Index saw a slight decline of 0.2% in July before seasonal adjustment, with 15 out of 20 major metros experiencing month-to-month price declines [5][11] - After seasonal adjustment, the National Index registered a decrease of 0.1%, indicating weak underlying demand even during peak buying season [5][11] Market Dynamics - High mortgage rates and affordability issues are constraining the housing market's recovery, with many previously booming areas now showing signs of cooling [7][8] - The ongoing rotation in regional performance suggests that markets with strong local economies and reasonable prices are outperforming those that have become unaffordable [4][8]

Core Viewpoint - S&P Dow Jones Indices is expanding into the private markets sector by launching the S&P Private Equity 50 Indices in collaboration with NewVest, aiming to meet the growing demand for data and benchmarks in this evolving asset class [1][2]. Group 1: Expansion into Private Markets - The S&P Private Equity 50 Indices will measure the performance of 50 of the largest available private equity funds over a year, providing insights into top funds in North American and European private equity [2][3]. - This initiative reflects S&P DJI's commitment to enhancing transparency and scalability in private markets, similar to its established benchmarks in public markets like the S&P 500 [2][3]. Group 2: Collaboration with NewVest - NewVest, a private markets index manager, will manage passively constructed private index portfolios targeting diversified exposure to major private markets funds globally [5]. - The collaboration aims to redefine private equity benchmarks as transparent and accountable, supporting initiatives like the U.S. effort to democratize access for 401(k) investors [2][5]. Group 3: Future Outlook - S&P DJI anticipates that private markets will increasingly play a significant role in portfolio construction and risk management, and is actively addressing the unique challenges within this space [3].

Core Points - S&P Dow Jones Indices is updating the market capitalization eligibility criteria for additions to the S&P Composite 1500 Indices effective July 1, 2025 [1] - The updated market capitalization ranges for the indices are as follows: S&P 500 will require a minimum of US$ 22.7 billion, S&P MidCap 400 will require between US$ 8.0 billion and US$ 22.7 billion, and S&P SmallCap 600 will require between US$ 1.2 billion and US$ 8.0 billion [5] - The criteria are reviewed quarterly to reflect current market conditions and are based on the three-month average cumulative total company level market capitalization of the S&P Total Market Index [1][5] Market Capitalization Ranges - Previous market capitalization eligibility criteria for S&P 500 was US$ 20.5 billion or more, S&P MidCap 400 was US$ 7.4 billion to US$ 20.5 billion, and S&P SmallCap 600 was US$ 1.1 billion to US$ 7.4 billion [5] - The updated criteria will now categorize companies into percentiles: S&P 500 at the 85th percentile, S&P MidCap 400 between the 85th and 93rd percentiles, and S&P SmallCap 600 between the 93rd and 99th percentiles [5] Additional Information - The U.S. Indices methodology document will be updated to reflect these changes, and historical market cap ranges dating back to 2007 can be found in Appendix A of the methodology [3] - S&P Dow Jones Indices is recognized as the largest global resource for index-based concepts, data, and research, with a significant amount of assets invested in their indices [3][4]