- The S&P 500 hit a new high above 3,900 on Monday.
- Rising oil prices continue to drive the recovery in energy stocks.
- Airline stocks rise sharply on payroll assistance outlook.
The S&P 500 Index (SPX) It opened positive for the sixth day in a row on Monday and posted a new record of 3,909. At time of writing, the SPX was up 0.38% on the day at 3,902.
S&P 500 Major Changes
Rising crude oil prices continue to boost energy stocks at the start of the week, with the S&P 500 Energy Index gaining more than 4%. At the moment, a barrel of West Texas Intermediate is trading at its highest level in more than a year at $ 57.85, increasing 1.55% on the day.
Among the top energy stocks, Marathon Oil Corp (MRO: NYSE), Occidental Petroleum Corp (OXY: NYSE), Apache Corp (APA: NASDAQ) and Diamondback Energy Inc (FANG: NASDAQ) gain between 13% and 7.5%.
Meanwhile, Reuters reported on Monday that Democrats plan to propose a $ 14 billion aid to airline payroll and provided a boost to airline stocks. At time of writing, shares of Southwest Airlines Co (LUV: NYSE) and American Airlines Group Inc (AAL: NASDAQ) were up 5.2% and 3.55%, respectively.
On the other hand, Cardinal Health Inc (CAH: NYSE) is the worst performing stock on Monday, shedding 3.9% to 52.15.
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