S&P 500, Nasdaq close at new records ahead of U.S.-China trade deal signing

U.S. stocks closed higher Monday, with the S&P 500 and Nasdaq ending the day at fresh record highs, as U.S. and Chinese officials prepare to sign a phase-one trade deal in Washington later this week. The Dow Jones Industrial Average DJIA, +0.29% advanced about 82 points, or 0.3%, to close at 28,906 and the S&P 500 SPX, +0.70% rose 23 points, or 0.7% to end the session at about 3,288. The Nasdaq Composite index COMP, +1.04% gained 95 points, or 1% to close at about 9,274, as both it and the S&P 500 set new intraday and closing highs. Reports that the Trump Administration will soon retract its designation of China as a “currency manipulator” fueled the bullish sentiment on Wall Street, as the move is seen as evidence of growing good will between the world’s two largest economies. In company news, shares of electric car maker Tesla Inc. TSLA, +9.77% surged 9.8% after Oppenheimer analyst Colin Rusch boosted his stock-price target by nearly 60%, adding to the stock’s 25.5% year-to-date rise.

See Full Story Dow lags as S&P 500, Nasdaq clinch record finish

The stock market ends higher Monday, with two major indexes hitting all-time closing highs, as investors turned more bullish ahead of the scheduled signing of a phase one U.S.-China trade deal this week.

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