The S&P 500 and the Nasdaq indexes hit record highs on Monday, as a report that ...
), helped lift the Philadelphia Semiconductor index .SOX 2.27% after a Chinese state-backed tabloid said Beijing and Washington were “very close” to an initial pact.
That added to optimism from comments over the weekend by a top U.S. official that an agreement was still possible by the end of the year, dispelling fears that the negotiations could carry on into 2020. Apple Inc rose 1.3% and was the top boost to the S&P and Nasdaq, while it provided the second-biggest support to the blue-chip Dow Jones Industrial Average.
“The mood is pretty positive at this point,” said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.firming over 1.1% and eight of the 11 major S&P 500 sectors higher. The technology sector .SPLRCT gained the most on the benchmark index, rising 1.25%. “You got mergers today, which are typically positive for the market, and I think you still have some optimism that there’s going to be a trade deal,” Brown said.
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