Wall Street Marks Fresh Record Highs on Optimistic Trade Resolution

Wall Street Marks Fresh Record Highs on Optimistic Trade Resolution


Wall Street’s 3 major averages kicked off the trading week by closing at records 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 investor sentiment.

President Donald Trump applauded the achievement. “Another new Stock Market Record. Enjoy!” he Tweeted.

A Chinese state-backed newspaper said Beijing and Washington were “very close” to an initial pact.

Gains Monday were broad with only the defensive consumer staples .SPLRCS and utilities S&P sectors in the red. Tech gainers helped push the NAS up by more than 1%.

The S&P 500 posted 40 new 52-week highs and 1 new lows, and the NAS Comp recorded 139 new highs and 61 new lows.

The major US stock market indexes finished at Monday: DJIA +190.85 at 28066.38, NAS Comp +112.60 at 8632.48, S&P 500 +23.35 at 3133.64

Volume: Trade on the NYSE came in at 823-M/shares exchanged

  • NAS Comp +30.1% YTD
  • S&P 500 +25.0% YTD
  • DJIA+20.3% YTD
  • Russell 2000 +20.3% YTD

HeffX-LTN’s overall technical outlook for the 3 major US stock market indexes is Bullish to Very Bullish in here.

Looking Ahead: Tuesday, investors will receive New Home Sales for October, the FHFA Housing Price Index for September, the S&P Case-Shiller Home Price Index for September, and the Advance reports for International Trade in Goods, Retail Inventories, and Wholesale Inventories. 

Stay tuned…

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