Wall Street notches record highs on renewed trade optimism

Wall Street notches record highs on renewed trade optimism

Apple Inc and semiconductor stocks powered the S&P 500 and Nasdaq indexes to record highs on Monday, after a report signaled that the United States and China were nearing a trade truce, with sentiment also buoyed by a raft of mega deals.

Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., November 18, 2019. REUTERS/Brendan McDermid

NEW YORK: Each of Wall Street's three major averages kicked off the trading week by closing at records on Monday as signs pointed to progress between the United States and China on a trade truce, while a round of merger deals also helped buoy sentiment.

The Dow Jones Industrial Average rose 189.77 points, or 0.68per cent, to 28,065.39, the S&P 500 gained 23.27 points, or 0.75per cent, to 3,133.56 and the Nasdaq Composite added 112.60 points, or 1.32per cent, to 8,632.49.

(Reporting by Chuck Mikolajczak; Editing by Chris Reese)

Source: Reuters

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