Major indexes were up again Monday after last week’s strong jobs report lifted hopes for a faster-than-expected economic rebound from the coronavirus pandemic.
The S&P 500 rose 0.4% to 3,207.37 during midday trading.
The Dow Jones Industrial Average increased 0.9% to 27,361.06.
The Nasdaq climbed 0.4 % to 9,855.38.
The yield on a 10-year Treasury bond fell 3.9% to 0.8690%
The price of gold increased 1.2% to $1,702.80 an ounce.
The price for a barrel of oil fell 3.1% to $38.32.
FINANCE
Pacific Premier Bancorp Inc. (NASDAQ: PPBI) in Irvine was up 6.5% to $26.61 per share for a market cap of $2.5 billion, for an almost 30% rise over the last month. Pacific Premier completed the acquisition of cross-town rival Opus Bank as of June. 1.
REAL ESTATE
Sunstone Hotel Investors Inc. (NYSE: SHO) rose 5.9% to $10.44 apiece for a market cap of $2.2 billion. Shares of airline, travel and leisure stocks were up across the board on Monday, benefiting from hopes of a further reopening of the U.S. economy.
