The weekend news that the framework for a US/China trade solution push the major indices sharply to the upside. FOMO is also a contributing factor ahead of a slew of earnings this week including Amazon, Apple, Alphabet, Meta, and Microsoft (among others). The FOMC will also meet on Wednesday and are expected to cut rates by 25 basis points. On Thursday Pres. Trump and China’s XI meet.
The Dow, S&P and NASDAQ indices closed at record levels.
A look at the closing levels shows:
- Dow industrial average rose 337.47 or 0.71% at 47544.59.
- S&P rose 83.47 points or .23% at 6875.16.
- NASDAQ index rose 432.59 points or 1.86% at 23637.46.
The small-cap Russell 2000 rose 6.96 points or 0.28% at 2520.43.
- Amazon shares rose 1.23%
- Apple shares rose 2.28% (new record close)
- Alphabet shares rose 3.60% (new record close)
- Microsoft rose 1.51%
- Meta rose 1.69%
