- S&P 500 Index stays within a touching distance of all-time highs.
- Facebook (FB: NASDAQ) shares post strong gains on Monday.
- Penn National Gaming Inc (PENN: NASDAQ) is the biggest daily percentage loser.
The S&P 500 Index (SPX) opened modestly lower on Monday but didn’t have a difficult time erasing its losses despite the negative impact of Archegos Capital defaulting on margin calls on risk sentiment. As of writing, the SPX was virtually unchanged on the day at 3,970 and was staying within a touching distance of the all-time high set at 3,983 on March 17.
S&P 500 top movers
Facebook (FB: NASDAQ) shares started the new week on a firm footing and climbed to a daily high of $293.17. The company announced that it’s planning to lay new undersea cables to connect Singapore, Indonesia and North America as part of a joint project with Google to boost internet connection capacity between the regions. Moreover, Deutsche Bank said it raised its price target for FB to $385 from $355. Currently, the stock is trading at $291, gaining 3.1% on a daily basis.
CenterPoint Energy Inc (CNP: NYSE) and Carrier Global Corp (CARR: NYSE) shares are among the other top daily percentage gainers, rising around 3%.
On the other hand, Penn National Gaming Inc (PENN: NASDAQ) is the worst performer on Monday, losing 8.45% at $97.55.
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