S&P 500 top movers: Western Union shares rise 11% on Tuesday
- S&P 500 posts modest daily gains on Tuesday.
- Western Union shares rise sharply after company reports improvement in transaction trends.
- Cybersecurity firm NortonLifeLock loses nearly 5% as the worst performer.
Major equity indexes in the US started the day little changed on Tuesday as investors continue to assess US-China tensions, the economy's reopening prospects and the unrest in major US cities.
Nevertheless, the S&P 500 Index gained traction after the opening bell and was last seen rising 0.5% on a daily basis at 3,070 points. Among the 11-major S&P 500 sectors, the Energy Index is up 2.05% while the Consumer Staples and Communication Services indexes post modest losses.
S&P 500 top movers
On Tuesday, Western Union (WU) said it saw significant improvement in consumer-to-consumer transaction trends and a record level of digital transactions in May. Additionally, the company added that digital money transfer transactions accounted for about 30% of consumer-to-consumer transactions in April and May. Boosted by this headline, WU shares rose sharply and were last seen gaining 11% near $23.
Moreover, real estate investment trust SL Green Realty (SLG) shares are up 8% at $47.50 as the second top-gainer.
On the other hand, cybersecurity firm NortonLiveLock (NLOK) shares are losing 5% on the day as the worst-performer.
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.
