The stock market is buzzing with activity as 28 stocks in the S&P 500 hit new 52-week highs. As major indexes rallied on Tuesday, these stocks reached new milestones, with 15 companies hitting all-time highs. Some notable names include Diamondback Energy, Cigna, Micron, Constellation Energy, Hilton Worldwide, Lennar, and Allstate.
Meanwhile, shares of UPS fell after the delivery company laid out long-term targets, causing a 3.5% drop in its stock price. Analysts expressed skepticism about UPS’s targets, citing concerns about oversupply of parcel capacity and the timeline for cost savings.
On a positive note, McCormick is poised for its best day in four years after exceeding Wall Street’s earnings expectations. The spice and seasoning maker’s stock rose nearly 10% in late morning trading following a strong financial report for the fiscal first quarter.
In other news, Trump Media stock jumped nearly 40% on its debut under the ticker DJT, adding nearly $4 billion in paper profits to Donald Trump’s net worth. Additionally, Krispy Kreme stock soared 18% in premarket trading after announcing an expansion of its partnership with McDonald’s.
Overall, the market is showing signs of strength, with April historically being a strong month for market returns. However, there are concerns about a potential market pullback, as investors continue to favor cyclical sectors despite the risks. Stay tuned for more updates on the dynamic stock market landscape.
