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  • S&P 500 remains on track to close with modest losses.
  • American Airlines Group Inc (AAL) shares rise for the fourth straight day.
  • Simon Property Group Inc (SPG) is down more than 5% on Monday.

The S&P 500 (SPX) Index started the first day of the week modestly lower and seems to be struggling to pare its losses. As of writing, the SPX was down 0.33% on a daily basis at 3,687.

S&P 500 top movers

Boosted by the coronavirus vaccine optimism, American Airlines Group Inc (AAL: Nasdaq) shares closed the previous two weeks in the positive territory and gained nearly 30% during that period. Although the company noted on Friday that the slowing of net bookings growth persisted into the last month of the year, investors continue to price the positive impact of a vaccine. As of writing, AAL was trading at its highest level since mid-June at $17.47, gaining 6.5% as the top percentage gainer of the day.

Among the other strong performers of the day, L Brands Inc (LB: NYSE), Newmont Corporation (NEM: NYSE) and Boeing Co (BA: NYSE) shares are up between 4.5% and 4%.

On the other hand, Simon Property Group Inc (SPG: NYSE) shares are down 5.1% on the day at $89.11. Earlier in the day, Fitch Ratings said it has downgraded SPG ‘A-‘ from ‘A’ and assigned a negative rating outlook.