πŸ‡ΊπŸ‡Έ

Dow joins S&P 500, Nasdaq at record highs

Credit: Reuters Studio
Published on November 4, 2019 - Duration: 01:15s

Dow joins S&P 500, Nasdaq at record highs

The Dow set a record closing high, joining the S&P 500 and the Nasdaq in doing so amid optimism surrounding corporate earnings and 'phase one' of the U.S.-China trade deal.

Conway G.

Gittens reports.

Advertisement

Dow joins S&P 500, Nasdaq at record highs

The Dow joined the S&P 500 and the Nasdaq in setting new record highs on Monday.

But investors were far from jumping into the market with both feet as gains were modest across the board.

Economic data may have limited the rally.

U.S. factory orders saw a bigger-than-expected drop in September, in a sign the manufacturing sector remains weak.

On the flip side, Wall Street was upbeat on hopes the so-called phase one trade deal between the U.S. and China was moving along.

Commerce Secretary Wilbur Ross added to optimism by hinting over the weekend that U.S. companies may soon be able to sell components to Chinese telecom giant Hauwei, lifting a ban that's been in place since May.

Suppliers to Huawei, particularly semiconductors were strong on the back of that news.

Sticking with company news: shares of McDonald's fell after CEO Steve Easterbrook, the architect of much of the fast-food giant's recent success, was fired for having a consensual relationship with an employee.

Meanwhile, shares of Under Armour had their worst day in two years.

Not only did the company lower its full-year guidance, it confirmed it's the target of a federal probe into its accounting.

You are here

Recent related videos from verified sources

S&P and Nasdaq Close at Record Highs 01:14
Credit: Cheddar Inc. - Published 16 hours ago 

Wall Street hits records on news of trade deal 01:14
Credit: Reuters Studio - Published 2 days ago 

You might like