Foot Locker Higher After Being Added To S&P 500 Index

Foot Locker FL shares are trading higher by $0.51 at $65.71 in Tuesday's session. The catalyst for the rally is the announcement that the company will be added to the S&P 500 index after Friday's session, forcing fund managers that mimic the index to purchase the issue.

After a higher, it retreated and found support just below Monday's close ($65.76), reaching $65.65 before continuing higher. The ensuing rally has found intra-day resistance at $66.94, but is not far off that level.