S&P 500 top movers: Real estate stocks post strong gains on Tuesday

  • S&P 500 Index retreats from highs, stays in the positive territory.
  • Real estate stocks register decisive gains on Tuesday.
  • Financial shares suffer heavy losses as banks warn of dismal interest income.

The S&P 500 Index (SPX) opened the day sharply higher but struggled to preserve its bullish momentum. Although the SPX retreated from the daily high it set at 3,419, it's still up 0.72% on the day at 3,408.

S&P 500 top movers

In the absence of significant fundamental market drivers, the defensive Real Estate Index is up nearly 2% as the best-performing major S&P 500 sector. Among the top real estate stocks, SL Green Realty Corp (SLG: NYSE), Kimco Realty Corp (KIM: NYSE) and Simon Property Group Inc (SPG: NYSE) shares are up between 6% and 5.5%.

On the other hand, financial shares remain on the back foot with banks voicing a dismal outlook for net interest income as the US Federal Reserve remains committed to keeping rates low to support the economic recovery. As of writing, 
Citigroup Inc (C: NYSE), Lincoln National Corp (LNC: NYSE) and Citizens Financial Group Inc (CFG: NYSE) shares are among the top daily percentage decliners on Tuesday, losing between 4.5% and 3.4%.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD trades at fresh September lows

Risk-aversion is the main theme this Monday, amid resurgent coronavirus cases in the Old Continent and the announcement of  new lockdowns. ECB’s Lagarde said the economic recovery in the EU is “very uncertain, uneven and incomplete.”


GBP/USD extends slump sub-1.2800

The Pound plunged on a dismal market mood, as PM Johnson acknowledged the kingdom is undergoing a second coronavirus wave. GBP/USD trades at one-week lows around 1.2800.


XAU/USD dives to sub-$1900 levels, six-week lows

Gold extended last week's rejection slide from a short-term descending trend-line resistance and tumbled to six-week lows during the early North American session.

Gold News

Bitcoin needs to defend critical support level at $10,600

Bitcoin was trading inside an ascending triangle pattern between September 3 and September 15, which is created when the price establishes higher lows and a horizontal trendline around the swing highs. 

Read more

WTI plummets to $39, down more than 4%

Crude oil prices closed the previous week sharply higher but erased a large portion of those gains on Monday. As of writing, the barrel of West Texas Intermediate was down 4.2%, the biggest daily percentage decline in nearly two weeks, at $39.15.

Oil News