- SPDR S&P 500 Trust ETF (NYSEARCA:SPY) has its best-performing trading day in a month as the largest exchange traded fund from an asset under management standpoint closed out Monday’s trading session +1.43%.
- The last time SPY closed this high on a day was back on May 19th. Additionally, the large-cap ETF regained its Friday selloff as market participants remained bullish on a day of broad-spectrum buying.
- Financial markets traded to the topside today, with the S&P 500, Dow Jones, and Nasdaq all finishing positive +1.40%, +1.76%, and +0.79%, respectively. Furthermore, on the day of risk-on trading, all eleven S&P 500 sectors finished in the green.
- The energy segment of the market led all sectors +4.28%, as the price of oil saw a move to the topside touching $73.96/bbl. Bank of America also mentioned that they believe oil can see $100/bbl next year.
- Financials +2.35% and industrials +2.18% also had a strong trading day as they were the second and third best performing areas of the market. The worst performing aspect of Monday’s market was the consumer discretionary space which closed as a whole +0.53%.
- In other financial market news, the U.S. Dollar Index has had its best performing week in over a year, dating back to April 2020. Learn more.