DIN - Why These Restaurant Stocks Popped over 10% Monday
Shares of Jack in the Box (NASDAQ: JACK), Wendy's (NASDAQ: WEN), and Dine Brands Global (NYSE: DIN) all jumped over 10% higher Monday morning as investors seemed to shift from consumer staples stocks, which were largely flat Monday morning, into heavily sold off restaurant and fast-food stocks.
The broader market gains -- the S&P 500 and Dow are both up almost 5% Monday morning -- could be from some positive news abroad: Italy, France, and Spain all reported a deceleration of new deaths from the COVID-19 coronavirus. But investors should expect more market volatility surrounding COVID-19 news and how policymakers try to offset its negative economic impact.