Shares of retailers and other consumer companies rose as investors looked past the toll the pandemic has taken on the travel business and bet the U.S. government would provide more relief to the industry and the consumer.
Marriott International shares rose after the hotel chain posted a larger-than-expected quarterly loss on Monday, as investors focused on a budding recovery in China.
Shares of cruise line Royal Caribbean rallied even after it said its revenue nearly dried up for the second quarter, sending it to a loss of more than $1.6 billion.
Theme-park company SeaWorld Entertainment rallied after it said profit and sales fell more sharply than Wall Street expected in the latest quarter as attendance at its parks plummeted.
McDonald's said it is suing former Chief Executive Steve Easterbrook and seeking to recoup tens of millions of dollars it paid him in severance and benefits, alleging that he lied to the board about sexual relationships with employees before his ouster last fall.
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