Stocks – China Growth, Easing Trade Tensions Fuel Wall Street Rally

This post was originally published on this site

https://i-invdn-com.akamaized.net/news/LYNXMPEE7024A_M.jpg
© Reuters. © Reuters.

Investing.com – Stocks surged Monday with the major indexes hitting all-time highs and closing highs.

The catalysts were decent economic data from China and continuing market euphoria that at least some sort of U.S. trade deal looks done.

The gains came despite a 4% decline in shares of Boeing (NYSE:) on reports the company may shut down production of its 737 Max jetliner until it wins an OK from the Federal Aviation Administration.

The was up 0.7%. The added 0.91%. The rose just 0.36%, or 100 points. The blue chips, however, had been up as many as 200 points early in the session.

Boeing’s decline subtracted nearly 100 points from the . Twenty-three Dow stocks were higher, led by UnitedHealth Group (NYSE:), Pfizer (NYSE:) and Apple (NASDAQ:).

All 11 S&P 500 sectors were higher, led by energy, health care, utilities, technology and financial stocks.

In addition to the data from China, stocks in Europe surged after the Conservatives’ win in last week’s election in the United Kingdom.

FedEx (NYSE:) shares fell 1% after Amazon.com (NASDAQ:) said it would not allow vendors selling wares to Prime customers to use FedEx Ground. The ostensible reason was poor service, but Amazon has been trying to stop shipping with anything related to FedEx.

Energy shares were higher on the prospect of higher oil prices.

Interest rates also moved higher as investors moved cash away from bonds into stocks.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.