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The S&P 500 Soared Today. Here's Why.

The S&P 500 Soared Today. Here's Why.

The SPDR S&P 500 ETF Trust (NASDAQ: SPY) reached a high of $406.94 Monday before closing an impressive day of trading higher by 1.44% at $406.36.

U.S. indices at-large were trading higher following a strong jobs report. Infrastructure plans and continued COVID-19 vaccinations have also lifted market sentiment.

The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: DIA) finished higher by 1.13% at $335.20. The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) closed higher by 2% at $331.05.

Here are the day's winners and losers from the SPY, according to data from Benzinga Pro.

The gainers were abundant for the SPY and came from some of the most popular reopening trades in travel and entertainment: Norwegian Cruise Line Holdings Ltd (NYSE: NCLH), MGM Resorts International (NYSE: MGM) and Carnival Corp (NYSE: CCL). 

MGM shares were trading higher after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and announced a price target of $45 per share.

The biggest laggards for the SPY included the likes of Marathon Oil Corporation (NYSE: MRO) Occidental Petroleum Corporation (NYSE: OXY) and Enphase Energy Inc (NASDAQ: ENPH).

Elsewhere On The Street

  • Elon Musk is bemoaning that there isn’t enough housing in Austin, Texas, but whether he is actively planning to alleviate that situation is unclear. The self-crowned technoking of Tesla Inc (NASDAQ: TSLA) shared his frustration on the housing market in Texas’ capital city Sunday… Read More
  • Snap Inc. (NYSE: SNAP) is risking the wrath of Apple Inc (NASDAQ: AAPL) over exploring ways to skirt the iPhone maker’s new privacy rules that are expected to be rolled out in the coming weeks… Read More
  • AMC Entertainment Holdings Inc (NYSE: AMC), which has had a volatile ride amid the WallStreetBets phenomena, traded up 13% following a positive analyst action… Read More

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