This medical stock led the Birmingham and Alabama Stock Report
Eleven stocks saw gains of at least 5% on Tuesday as our Birmingham and Alabama Stock Report mirrored a soaring Wall Street.
Medical Properties Trust led the charge at +14.7%. The Birmingham-based real estate investment trust focuses on health care facilities.
The banking sector peppered many of the top spots: ServisFirst (+8%), Southern States (+7.4%), Synovus (+6.9%), Regions (+6.2%) and PNC (+5.9%).
Overall, relief washed over Wall Street Tuesday, and stocks leaped to one of their best days of the year following a surprisingly encouraging report on inflation.
The S&P 500 jumped 1.9% for its best day since April and hit a two-month high. The Dow Jones Industrial Average rallied 489 points, or 1.4%, while the Nasdaq composite charged 2.4% higher.
The highly anticipated report showed not only that overall inflation slowed last month, but so did a key underlying figure that economists see as a better indicator of future trends. The slowdown bolstered bets on Wall Street that inflation is cooling enough for the Federal Reserve to finally be done with its market-crunching hikes to interest rates.