Wall Street Three Major Averages Closed At Record Highs Today

Reuters: Wall Street sets records on trade progress optimism

Each of Wall Street’s three major averages kicked off the trading week with record closes 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.

A Chinese state-backed tabloid said Beijing and Washington were “moving closer to agreeing” to an initial pact, which lifted trade-sensitive semiconductor stocks, including Applied Materials Inc (AMAT.O), up 4.18%, and Lam Research Corp (LRCX.O), which gained 2.68%. The Philadelphia Semiconductor index .SOX jumped 2.43% and was on pace for its best day in just over three weeks.

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Update #1: US stocks jump to records as tech, small companies lead way (AP)
Update #2: S&P 500 and Nasdaq climb to record highs on hopes for trade deal, ASX to rise (ABC News Online)

WNU Editor: This should be the headline story of the day. But it is not.

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