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  • S&P 500 hit a new record high above 3,900 on Monday.
  • Rising oil prices continue to fuel energy stocks’ rally.
  • Airlines’ shares rise sharply on payroll assistance prospects.

The S&P 500 Index (SPX) opened in the positive for the sixth straight day on Monday and notched a new record high of 3,909. As of writing, the SPX was up 0.38% on the day at 3,902.

S&P 500 top movers

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, the barrel of West Texas Intermediate is trading at its highest level in more than a year at $57.85, rising 1.55% on the day.

Among the major energy shares, 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 are planning to propose a $14 billion aid for airlines’ payroll and provided a boost to airline stocks. As of writing, Southwest Airlines Co (LUV: NYSE) and American Airlines Group Inc (AAL: NASDAQ) shares were up 5.2% and 3.55%, respectively.

On the other hand, Cardinal Health Inc (CAH: NYSE) is the worst-performing stock on Monday, losing 3.9% at $52.15.