S&P 500 top movers: Halliburton Co (HAL: NYSE) gains nearly 6% on rating upgrade

S&P 500 Index is up more than 1% following Monday's decline.
Halliburton Co (HAL: NYSE) is one of the top gainers on Tuesday.
Pfizer Inc (PFE: NYSE) shares are down nearly 2%.

Eren Sengezer FXStreet

After closing the first day of the week in the negative territory, the S&P 500 Index (SPX) opened higher on Tuesday and preserved its bullish momentum on the back of renewed stimulus hopes and coronavirus vaccine optimism. As of writing, the DPX was up 1.13% on the day at 3,688.

S&P 500 top movers

Earlier in the day, Citigroup announced that it raised the rating for Halliburton Co (HAL: NYSE) stock to "Buy" from "Neutral". Last week, UBS and Simmons Energy both hiked their price targets. Boosted by these developments, HAL is the biggest daily percentage gainer on Tuesday, rising 5.93% at $20.09.

Among the other top performers, Wynn Resorts Ltd (WYNN: NASDAQ), Eli Lilly and Co (LLY: NYSE) and Kimco Realty Corp (KIM: NYSE) shares were up between 5.8% and 4.75%.

On the other hand, Pfizer Inc (PFE: NYSE) is down 1.83% on the day at $38.49 as the biggest decliner. Earlier in the day, the US Food and Drug Administration (FDA) said there were no specific safety concerns with Moderna's coronavirus vaccine and signalled that it could be approved at Thursday's Advisory Committee meeting.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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