Why Restaurant Stocks Were Climbing Today
Shares of Brinker International (NYSE: EAT), Darden Restaurants (NYSE: DRI), Dave & Buster's (NASDAQ: PLAY), and BJ's Restaurants (NASDAQ: BJRI) were gaining today on a broad surge in the market after Moderna reported successful phase 1 results with its coronavirus vaccine.
The news is clearly a positive development for restaurant chains that have been battered by the pandemic and the shutdowns that have come along with it. Positive comments from Federal Reserve Chairman Jerome Powell in a 60 Minutes interview last night also helped reassure investors and lift stocks today.
As of 12:57 p.m. EDT, Brinker stock was up 13.1%, Darden had gained 7.6%, Dave & Buster's was 16.3% higher, and BJ's was up 12.8%. At the same time, the S&P 500 jumped 3%, showing the broad gains in the market.
Source Fool.com
