Dow Jones Industrial Average Is Up as China Trade Optimism Wont Die – Barron's
Record Territory. The three major U.S. stock market indexes rose and the S&P 500 surged to a new high on continued optimism about a trade deal between the U.S. and China.
The Dow Jones Industrial Average rose 110 points, or 0.41%, to 27,067.88. The S&P 500 rose 0.6%, and the Nasdaq Composite was up 0.9%.
Tiffany stock (ticker: TIF) jumped 32% after the French luxury group LVMH confirmed it was interested in acquiring the American jeweler.
AT&T stock (T) rose 4.9% after the telecommunications and media giant reported earnings and reached an agreement with activist investor Eliot Management.
Prologis stock (PLD) fell 4.7% as investors reacted to the news that the real-estate company would acquire Liberty Property Trust (LPT) in a $9.7 billion all-stock deal. Liberty Property shares rose 15.1%.
Loews stock (L) fell 3.5% after the conglomerate’s third-quarter earnings included a $151 million charge-off related to long-term care at its insurance company.
Write to Ben Walsh at [email protected]
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