(Bloomberg) AMC Entertainment Holdings Inc. and GameStop Corp.’s stock rallies Tuesday hammered short sellers to the tune of $591 million, deepening bears’ horrific 2021 losses.The movie theater operator’s more than 18% surge handed shorts $373 million in mark-to-market losses, while the video-game retailer’s 9.3% rally dealt another $218 million blow at mid-day, according to financial analytics firm S3 Partners. Their meteoric gains have squeezed short sellers with losses ballooning to $9 bi
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The S&P 500 and the Dow rose on Tuesday, with the benchmark S&P 500 within 0.5% of its record high as investors cheered signs of an improving economy ahead of a week packed with major data that is expected to shed more light on the path of inflation. The two indexes are rising for the fourth straight session as investors bet on economically sensitive stocks benefiting the most from a post-COVID-19 recovery. The S&P 1500 airlines index added 2.7%. The S&P energy index jumped 3.8% on a promising outlook for fuel demand, while financials and materials were up almost 1% each. Stock markets were unperturbed on Friday by a surge in key inflation readings for April following reassurances from Federal Reserve officials that the ultra-loose monetary policy would remain in place.
S&P 500, Dow futures hover near record highs
By Shashank Nayar and Medha Singh
Reuters
(Reuters) - Wall Street s main indexes were set to open higher on Tuesday, kicking off a week packed with major economic data that is expected to shed more light on the path of inflation.
Dow and S&P 500 futures were near record highs, set to extend last week s strong gains as investors bet on economically sensitive stocks benefiting the most from a post-COVID-19 recovery.
The S&P 500 rose to a level last Friday that was within 0.6% of its record high as investors were unperturbed by a surge in key inflation readings for April following reassurances from Federal Reserve officials that the ultra-loose monetary policy would remain in place.