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US open: Dow Jones, S&P 500 and Nasdaq all at record highs

By Alexander Bueso

Date: Monday 04 Nov 2019

US open: Dow Jones, S&P 500 and Nasdaq all at record highs

(Sharecast News) - All of Wall Street's main market gauges were at fresh record highs at the start of the week as investors grew increasingly optimistic that a trade deal will be struck between the US and China.
As of 1517, the Dow Jones Industrial Average was trading 0.41% higher at 27,459.38, alongside a gain of 0.43% to 3,080.04 for the S&P 500 while the Nasdaq Composite was ahead by 0.53% to 8,431.26.

The mood was lifted after US Commerce Secretary Wilbur Ross said on Sunday that licenses for US companies to do business with Huawei Technologies will be coming "very shortly". In an interview with Bloomberg TV in Bangkok, Ross also made some positive noises about the possibility of an agreement being reached this month.

"We're in good shape, we're making good progress, and there's no natural reason why it couldn't be," he said. "But whether it will slip a little bit, who knows. It's always possible."

Oanda analyst Craig Erlam said: "The US jobs report on Friday was the icing on the cake of a week that earlier delivered a third consecutive interest rate cut and encouraging statements on the phase one trade agreement between the world's two largest economies.

"Of course, we've had plenty of warm words before that have delivered very little but things seem to finally be moving."

Adding to the cheer, Ross also said that Washington was in talks with European and Japanese carmakers and that tariffs on auto imports from the European Union and Japan might not be needed after all.

"Our hope is that the negotiations we've been having with individual companies about their capital investment plans will bear enough fruit that it may not be necessary to put the 232 fully into effect, may not even be necessary to put it partly in effect."

On the corporate front, Wright Medical shares surged by 30% after the company agreed to be bought by Stryker for $4.0bn.

Shares of McDonald's on the other hand were under pressure as the fast food chain sacked chief executive Steve Easterbook after it was revealed that he had a relationship with an employee.

Under Armour was also heavily sold on the back of news that the company is facing an investigation over its accounting practices.

Dow Jones - Risers

Chevron Corp. (CVX) $120.03 3.29%
Walgreens Boots Alliance, Inc. (WBA) $58.59 2.10%
3M Co. (MMM) $172.77 1.58%
Exxon Mobil Corp. (XOM) $70.67 1.54%
Cisco Systems Inc. (CSCO) $47.69 1.40%
Intel Corp. (INTC) $57.24 1.29%
Nike Inc. (NKE) $90.30 1.26%
Caterpillar Inc. (CAT) $146.09 1.11%
Boeing Co. (BA) $348.64 1.00%
American Express Co. (AXP) $120.26 0.94%

Dow Jones - Fallers

McDonald's Corp. (MCD) $189.05 -2.52%
Procter & Gamble Co. (PG) $122.50 -1.11%
Coca-Cola Co. (KO) $53.72 -0.34%
Unitedhealth Group Inc. (UNH) $251.78 -0.17%
Home Depot Inc. (HD) $236.94 -0.17%
International Business Machines Corporation (CDI) (IBM*) $143.66 0.00%
Dowdupont Inc. (DWDP) $30.52 0.00%
Pfizer Inc. (PFE) $38.40 0.03%
Visa Inc. (V) $181.01 0.04%
Verizon Communications Inc. (VZ) $60.42 0.08%

S&P 500 - Risers

Pioneer Natural Resources Co. (PXD) $134.96 5.80%
Cimarex Energy Co (XEC) $46.01 4.62%
Xilinx Inc. (XLNX) $96.61 4.21%
Occidental Petroleum Corp. (OXY) $43.89 3.78%
FedEx Corp. (FDX) $162.32 3.71%
Devon Energy Corp. (DVN) $21.94 3.66%
Fluor Corp. (FLR) $19.27 3.66%
Noble Energy Inc. (NBL) $20.75 3.65%
Ipg Photonics Corp. (IPGP) $144.71 3.59%
Chevron Corp. (CVX) $120.03 3.29%

S&P 500 - Fallers

Under Armour Inc. Class A (UAA) $18.06 -14.59%
Under Armour, Inc. (UA) $16.20 -14.33%
Stryker Corp. (SYK) $203.95 -4.15%
D. R. Horton Inc. (DHI) $51.66 -3.08%
PulteGroup Inc. (PHM) $39.02 -2.52%
McDonald's Corp. (MCD) $189.05 -2.52%
Lennar Corp. Class A (LEN) $59.68 -1.97%
Motorola Solutions Inc (MSI) $164.29 -1.95%
Activision Blizzard Inc. (ATVI) $54.76 -1.90%
Sba Communications Corp. (SBAC) $235.98 -1.75%

Nasdaq 100 - Risers

Baidu Inc. (BIDU) $109.51 4.66%
JD.com, Inc. (JD) $32.82 4.22%
Xilinx Inc. (XLNX) $96.61 4.21%
NetEase Inc. Ads (NTES) $301.05 3.98%
Ctrip.Com International Ltd. Ads (CTRP) $34.77 2.90%
Qurate Retail Inc. (QRTEA) $9.55 2.86%
Henry Schein Inc. (HSIC) $64.91 2.54%
Micron Technology Inc. (MU) $49.55 2.42%
Analog Devices Inc. (ADI) $111.96 2.37%
Wynn Resorts Ltd. (WYNN) $126.09 2.35%

Nasdaq 100 - Fallers

Activision Blizzard Inc. (ATVI) $54.76 -1.90%
Verisk Analytics Inc. (VRSK) $143.11 -1.55%
Mercadolibre Inc. (MELI) $484.86 -1.05%
Tesla Inc (TSLA) $310.27 -0.97%
Vertex Pharmaceuticals Inc. (VRTX) $199.13 -0.90%
Workday, Inc. (WDAY) $163.98 -0.82%
Expedia Group Inc. (EXPE) $136.72 -0.78%
Starbucks Corp. (SBUX) $82.56 -0.78%
Lam Research Corp. (LRCX) $276.16 -0.76%
Seagate Technology Plc (STX) $57.19 -0.75%

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