Wall Street Trifecta: S&P, Dow, Nasdaq Reach Record Highs

Monday, November 4, was a big day for US stocks — the Dow, S&P 500, and Nasdaq all hit record highs.

The three major stock indexes finished the day with their highest levels on record. Investor sentiment was lifted by a potential US-China trade deal, strong earnings, and generally positive economic data.

The Dow closed at 27,462, up 0.4% (115 points) - surpassing the previous record, which was set on July 15. S&P closed up 0.4% at 3,078, and the Nasdaq Composite climbed 0.6% to close at 8,433.

The best-performing Dow stock was Apple, which rallied more than 25%. J.P. Morgan Chase, Intel, and United Technologies also rose by 10% or more.

For the Dow, the latest increase boosts year-to-date gains to nearly 18%. That’s impressive, but the dow climbed 28.2% in 2017, so it’s not a record. S&P is up by 22% for the year, and Nasdaq is up by 27%.

President Donald Trump was quick to make a comment in his usual manner — through a tweet: “Stock Market hits RECORD HIGH. Spend your money well!”

The president has said that US-China trade talks are going well and that both sides have come to a “very substantial phase one” trade agreement. The agreement, which is to be signed in late November, could resolve the increasingly complicated conflict and end the trade war after more than a year.