US Stocks Hit Record Highs on Optimism Over Potential US-China Deal
The three major US stock indices hit record highs on Monday on continued optimism that the United States and China were closing in on a partial trade deal
The Dow Jones Industrial Average was up 0.5 percent at 27,482.97 close to 11:00 a.m. after striking an all-time high at 27,517.58 earlier in the session.
The top 500 indicator for US stocks, the S&P500, was 0.4 percent higher at 3,080.10, after a record high at 3,085.60 earlier.
The Nasdaq index was up 0.5 percent at 8,425.98 after an all-time peak at 8,451.37.
US President Donald Trump tweeted about the rallying stocks, saying: "Stock Market hits RECORD HIGH.
Spend your money well!"
US stocks have been riding the wave of strong third-quarter corporate earnings of local companies and stellar jobs growth in October, aside from speculation that the United States and China will seal a deal to end their trade war.
Monday's gains on Wall Street were fueled by a rally overnight in Chinese stocks, helped by continued optimism over a Friday announcement by China's Ministry of Commerce that officials in Beijing and Washington have achieved consensus on key differences in their trade dispute and were moving on with more talks.