The Dow, S&P 500 and Nasdaq hit record highs amid optimism over new US-China trade deal

Business
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

 

NEW YORK (CNN) — US stocks hit historic highs again on Monday. But this time the Dow joined the record-setting club as well.

All three major stock indexes — the Dow, S&P 500 and Nasdaq Composite — finished at their highest level on record. Markets around the world were trading higher on hopes that the United States and China will reach a full trade agreement.

The Dow closed up 0.4%, or 115 points, at 27,462 points, succeeding the record its set on July 15.

The S&P 500 finished 0.4% higher at 3,078 points, and the Nasdaq Composite climbed 0.6% to 8,433 points. They both closed at all-time highs on Friday. The S&P set three records last week alone.

Although there is little new on the trade front on Monday, last week’s hopes for a US-China trade deal were buoyed again after Commerce Secretary Wilbur Ross expressed optimism over a deal in a Bloomberg interview. Ross also said that US companies selling parts to China’s Huawei would receive licenses to do so.

The two largest economies in the world agreed a “phase one” deal in October and were meant to sign it at the APEC meeting in Chile. However, Chile is no longer hosting. President Donald Trump said in a tweet last week Thursday that Beijing and Washington are working on finding a new place for the signing.

Trademark and Copyright 2020 Cable News Network, Inc., a Time Warner Company. All rights reserved.

Trending

Don't miss

More Featured

Latest News

More News