S&P 500 hits fresh all-time high, boosted by strong earnings and US-China trade progress

"The market is sending you a very strong message: The cyclical stocks are recovering and they are outperforming," said Andrew Slimmon, managing director at Morgan Stanley Investment Management. "If the economy was going to hit a really bad patch, these stocks wouldn't be recovering."

Microsoft shares contributed to Monday's gains, rising 2.5% on news the company won a $10 billion cloud contract from the Defense Department. AT&T gained more than 4% after announcing a three-year plan that includes the addition of two new board members and the sale of up to $10 billion worth of non-core businesses in 2020.

After hitting a new high on July 26, the S&P 500 suffered a sharp sell-off amid fears of an economic recession in August. That month, the S&P 500 dropped 1.8%. The index struggled through September but has rebounded strongly in October. It is now up more than 6% from that August low.

Thank you mister Trump!

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500 jumps to record high on strong earnings, trade-deal progressThe S&P 500 hit an all-time high today following strong earnings and progress on U.S.-China trade. The S&P 500 rose 0.3% at the open to trade above 3,027.98, the record set on July 26. Anyone want to guess where it's closing though? At this rate it's about to blow through 3050. Strong earnings😂😂😂 What is the progress on the trade deal, specifically?
Source: CNBC - 🏆 12. / 72 Read more »

S&P 500 Hits Record High, Boosted By Trade Progress And Strong EarningsWhat recession? That's a good one... hahahahaha! sure...
Source: Forbes - 🏆 394. / 53 Read more »