The Dow Jones Industrial Average reached a milestone on Monday, now up nearly 18% on the year. The Dow joining the S&P 500 and Nasdaq Composite at record levels, as investor sentiment was lifted by strong earnings, a rebound in economic data and a potential U.S.-China trade deal. CNBC reports:
The 30-stock measure rose 114.75 points, or 0.4%, to 27,462.11, its first all-time high since mid-July. Chevron led the way higher for the Dow, rising 4.6%. Trade bellwethers Boeing and Caterpillar also rose more than 1% each.
Apple is by far the best-performing Dow stock since the index hit its previous record, rallying more than 25%. Intel, J.P. Morgan Chase and United Technologies are all up at least 10% in that time.Meanwhile, the S&P 500 climbed 0.4% to a fresh all-time high of 3,078.27. The Nasdaq advanced 0.6% to 8,433.20, also reaching record levels.
Monday’s rise brought the Dow’s year-to-date gain to nearly 18%. That would be the biggest one-year gain for the Dow since 2017, when it jumped 28.2%. The S&P 500 is up more than 22% for 2019 and is on pace for its biggest one-year gain since 2013, when it rallied nearly 30%. The Nasdaq is also up more than 27% this year.
President Donald Trump touted the records, saying in a tweet: “Stock Market hits RECORD HIGH. Spend your money well!”
Stock Market hits RECORD HIGH. Spend your money well!
— Donald J. Trump (@realDonaldTrump) November 4, 2019