- The Dow, S&P 500, and Nasdaq all spiked to new all-time highs on Monday.
- Renewed trade war optimism helped push the Dow over the line.
- However, Morgan Stanley warns that the stock market’s party is almost over.
The Dow surged into uncharted territory on Monday after a November trade deal reemerged as a legitimate possibility. But as Wall Street prepares to close the book on a phenomenal decade, analysts have begun to warn that the stock market’s next chapter will be far less exciting.
Dow Seeks to Close at New All-Time High
Wall Street’s major indices raced higher as trading opened this morning. The Dow Jones Industrial Average quickly jumped to a new all-time high, joining its peers in record territory. At last check, the Dow stood at 27,469.56 for a gain of 122.2 points or 0.45%.
The Dow jumped to a new all-time high on Monday morning. | Source: Yahoo Finance
The S&P 500 rallied 17.83 points or 0.58% to hit 3,084.33. Nine of 11 primary sectors reported gains, with only real estate (-0.62%) and utilities (-0.28%) trading in the red.
The Nasdaq outperformed, leaping 59.76 points or 0.69% to 8,444.37.
Despite the risk-on mood, the gold price held firm above $1,510.
Trade War Optimism Pushes the Stock Market Higher
Six months after US-China relations broke down in May, the two economic superpowers have still failed to sign a trade agreement – even a partial one. However, Wall Street remains optimistic that Washington and Beijing will salvage a deal, and that optimism helped push the Dow Jones to a new zenith.
Early this morning, US Commerce Secretary Wilbur Ross told an Asian business forum that,