Why These Restaurant Stocks Jumped on Friday
The stock market surged higher on Friday, ending a brutal week for investors on a positive note. Specifically, the S&P 500 jumped 9.2%. It was the biggest one-day rise for the market index since October 2008. The market's gain helped offset steep losses in the market over the last few weeks as stocks have tumbled amid growing concerns about the impact of the coronavirus on the economy.
The broader market's big jump on Friday was fueled by sharp gains from stocks across many sectors. Restaurant stocks represented one of the many industries that saw nice gains on Friday. BJ's Restaurants (NASDAQ: BJRI), Chipotle Mexican Grill (NYSE: CMG), and Darden Restaurants (NYSE: DRI) all saw their stocks jump sharply.
Image source: Chipotle Mexican Grill.
Source Fool.com
