Momentum continued to build on Wall Street Monday.
The Dow Jones Industrial Average rose 174 points, or 0.5%, to finish at 32,953. The Nasdaq closed with a 1.05% gain to 13,459, and the S&P 500 advanced nearly 0.7% to 3,968.
A stream of new vaccinations in the U.S., ongoing bullishness over the $1.9 trillion stimulus package, and rising airline bookings all helped spark optimism among investors.
Airline stocks stay airborne. Airline stocks, which have generally been on a persistent climb since the stock market lows almost a year ago, rose again on Monday. Transportation Security Administration screening numbers came in above 1 million every day between Thursday and Sunday, the first time such robust numbers of air passengers have been seen in more than a year.
Airlines are also seeing higher bookings for future trips, and United Airlines (ticker: UAL) says it now expects cash flow to be positive in the first quarter after stripping out debt payments, mere months after projecting it would lose nearly $20 million a day in the first quarter.
New S&P 500 members. Largely considered the most representative widely followed U.S. stock market index, the S&P 500 added four new stocks to its ranks, replacing four companies that will no longer be a part of the benchmark.
NXP Semiconductors ( NXPI), Penn National Gaming ( PENN), Generac Holdings ( GNRC) and Caesars Entertainment ( CZR) are the lucky new members, replacing Flowserve ( FLS), SL Green Realty ( SLG), Xerox Holdings Corp. ( XRX) and Vontier Corp. ( VNT).
AMC stock’s unlikely comeback. AMC Entertainment ( AMC), the nation’s largest movie theater chain, saw shares rise 25.8% on Monday, as investors applauded not only the recent surge in vaccinations but AMC’s plans to reopen many of its theaters in California this month.
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