AMC Stock Jumps, Airline Stocks Soar

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.

[Sign up for stock news with our Invested newsletter.]

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.

UAL shares rose 8.3%, American Airlines Group ( AAL) stock rose 7.7%, Delta Air Lines ( DAL) added 2.4% and Alaska Air Group ( ALK) ticked 5.8% higher on Monday.

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.

More from U.S. News

10 Major Upcoming IPOs to Watch in 2021

The 7 Top EV Stocks and Battery Companies

10 of the Best Stocks to Buy for 2021

AMC Stock Jumps, Airline Stocks Soar originally appeared on usnews.com

Related Categories:

Latest News

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up