S&P 500 hits another record, closes above 3,400 for the first time as Apple and airlines rise
Stocks rose to an all-time high on Monday, lifted by gains in tech and some reopening names, as sentiment around the coronavirus pandemic improved.
The Dow Jones Industrial Average jumped 378.13 points, or 1.4%, to close at 28,308.46. The S&P 500 climbed 1% to 3,431.28 and hit an all-time high. Monday also marked the S&P 500′s first-ever close above 3,400. The Nasdaq Composite advanced 0.6% to 11,379.72 and also reached a record.
Apple shares rose 1.2% to lead other tech-related names higher. Facebook climbed 1.6% and Amazon advanced 0.7%. Alphabet rose 0.6%.
Shares of airlines and cruise operators gained amid positive coronavirus treatment developments. United Airlines rose by more than 9% along with American. Delta gained 9.3%. Carnival advanced 10.2%. Norwegian Cruise Line and Royal Caribbean closed higher by 7.6% and 4.7%, respectively.
Monday’s moves came as the number of new coronavirus cases continues to decline in the U.S. Since spiking to more than 64,000 cases earlier this month, the number of new daily infections in the U.S. has not topped 49,000, according to Johns Hopkins University. On Sunday, there were less than 37,000 new confirmed cases, the data showed.
Reference: CNBC
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