- S&P 500 Index remains on track to register strong daily gains.
- Regeneron Pharmaceuticals Inc (REGN: NASDAQ) shares are up more than 6%.
- Major cruise liner stocks are posting heavy losses.
The S&P 500 Index (SPX) started the new week sharply higher on positive developments surrounding US President Donald Trump’s condition and preserved its bullish momentum. As of writing, the SPX was up 1.22% on the day at 3,390.
S&P 500 top movers
Late on Friday, Trump’s doctor told reporters that the president was given an intravenous dose of Regeneron Pharmaceuticals Inc’s (REGN: NASDAQ) experimental “antibody cocktail.” Boosted by this development, REGN jumped to its highest level in five weeks at $619.97 after the opening bell but struggled to push higher. Nevertheless, REGN is still the largest daily percentage gainer, rising 6.2% near $600.
Among the other top performers of the day, Albemarle Corp (ALB: NYSE), United Rentals Inc (URI: NYSE) and Comerica Inc (CMA: NYSE) shares are all up around 6%.
On the other hand, major cruise liners shares are suffering heavy losses despite the upbeat market mood. Last week, the US Centers for Disease Control and Prevention (CDC) announced that it extended its ban on passenger cruises until at least November. At the moment, Norwegian Cruise Line Holdings Ltd (NCLH: NYSE) and Carnival Corp (CCL: NYSE) shares are down 3.2% and 2.3% respectively.
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