Benzinga | Mar 26, 2021 04:30PM EDT

The S&P 500 Soared Today. Here's Why.

The SPDR S&P 500 ETF Trust (NASDAQ:SPY) had an impressive day of trading Friday, the ETF seeing gains of 1.61% and closing at $395.98.

U.S. indices were trading higher Friday, led by strength in financials after the Fed said restrictions on buybacks could be lifted by the end of June. Investors also weigh inflation data, which alleviated some inflationary concerns.

The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) jumped over 1% in the final hour of trading to finish higher by 1.5% at $316. The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) also had a strong close, finishing higher by 1.36% at $330.61.

Here are the day's winners and losers from the SPY, according to data from Benzinga Pro.

The leaders for SPY were from consumer staples and tech: Nike Inc (NYSE:NKE), Cisco Systems Inc (NASDAQ:CSCO) and Intel Corporation (NASDAQ:INTC) helped the way for the S&P 500.

Nike shares were trading higher after analysts at Baird upgraded their stock rating from Neutral to Outperform and announced a $150 price target.

Shares of Intel were trading higher, potentially amid continued concerns of a chip shortage, which has caused supply concerns and lifted price outlook. Guidance from Intel earlier in the week has also helped lift sector sentiment.

Meanwhile, Boeing Co (NYSE:BA), Goldman Sachs Group Inc (NYSE:GS) and Walt Disney Co (NYSE:DIS) were among the top losers in SPY Friday.

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