The Dow could hit a record high today

The stock market is set to open higher with continued hopes that the US and China will reach full trade agreement.

Dow ( INDU ) the future is up around 140 points, or 0.5%. Futures for S&P 500 ( SPX ) are also up 0.5% and those for Nasdaq Composite ( COMP ) increased by 0.7%.

With that upswing, Dow was able to surpass a record set in mid-July. The magic number Dow needs to close is 27,359.16.

Both S&P and Nasdaq closed at the highlights on Friday. S&P set three records last week alone.
Although there is little news on the trade front on Monday, last week's hope for a US-China trade was agreed again after Secretary of Commerce Wilbur Ross expressed optimism over a deal in a Bloomberg interview. Ross also said US companies selling parts to China's Huawei would receive licenses for it.
The two largest economies in the world agreed to a "phase one" agreement in October, and were meant to sign it at the APEC meeting in Chile. However, Chile is no longer hosted. President Donald Trump said in a tweet last week Thursday that Beijing and Washington are working to find a new place for the signing.

Source link

Back to top button