- The S&P 500 remains on track to close with modest losses.
- Shares of American Airlines Group Inc (AAL) are up for the fourth day in a row.
- Simon Property Group Inc (SPG) was down more than 5% on Monday.
The S&P 500 Index (SPX) It started the first day of the week modestly lower and appears to be struggling to cut its losses. At time of writing, the SPX was down 0.33% on the day to 3.687.
S&P 500 Major Changes
Fueled by optimism about the coronavirus vaccine, American Airlines Group Inc (AAL: Nasdaq) stocks closed the previous two weeks in positive territory and gained nearly 30% during that period. Although the company noted on Friday that the slowdown in net reserve growth persisted into the final month of the year, investors continue to appreciate the positive impact of a vaccine. At time of writing, AAL is trading at its highest since mid-June at $ 17.47, gaining 6.5% as the day’s top percentage winner.
Among the other good results for the day, shares of L Brands Inc (LB: NYSE), Newmont Corporation (NEM: NYSE) and Boeing Co (BA: NYSE) were up 4.5% to 4%.
On the other hand, shares of Simon Property Group Inc (SPG: NYSE) fell 5.1% on the day to $ 89.11. Earlier in the day, Fitch Ratings said it lowered SPG’s rating from ‘A-‘ from ‘A’ and assigned it a negative rating outlook.
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