The Dow hit a fresh record high on Friday, surpassing 28,000 for the first time ever. The S&P 500 and Nasdaq also made new all-time highs, as stocks move on trade headlines.
Wall Street also wrap up wrapped up another week of gains.
Trade-sensitive names such as Caterpillar, Boeing, Apple and Micron Technology all rose at least 1.2% on Friday. Gold, meanwhile, fell as safe-haven assets pulled back broadly. Larry Kudlow, director of the U.S. National Economic Council, speaks to members of the media outside the White House in Washington, D.C., U.S., on Monday, Oct. 7, 2019."There's quite a bit of optimism that we're going to get a deal," said Gibson Smith, founder of Smith Capital Investors. "That would take away some of the uncertainty off the table. Unfortunately … we've had so many rounds of being told a deal is imminent and then it's not.
"The Kudlow comments are all that really matters to the macro narrative for Friday," said Adam Crisafulli, founder of Vital Knowledge, in a note. "Looking forward for the SPX, it seems like the index will struggle to come for sale until there is a formal decision on 'phase one' – any signs of doubt are being dismissed while words of encouragement can still provide upside pressure.
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