Stocks were higher on continued hopes that the United States and China will reach a full trade agreement.
The Dow (INDU) jumped some 120 points, or 0.5%, while the S&P 500 (SPX) was also up 0.5%. The Nasdaq Composite (COMP) climbed 0.6% higher.
All three indexes were at all-time highs at midday, but whether these gains will stick until the close remains to be seen.
Still, the Dow could surpass a record set in mid-July. It already set a new one for the highest intraday level. The magic number it needs to close above is 27,359.16 points.
Both the S&P and the Nasdaq closed at all-time highs on Friday. The S&P set three records last week alone.
Although there is little new on the trade front on Monday, last week’s hopes for a US-China trade deal were buoyed again after Commerce Secretary Wilbur Ross expressed optimism over a deal in a Bloomberg interview. Ross also said that US companies selling parts to China’s Huawei would receive licenses to do so.
The two largest economies in the world agreed a “phase one” deal in October, and were meant to sign it at the APEC meeting in Chile. However, Chile is no longer hosting. President Donald Trump said in a tweet last week Thursday that Beijing and Washington are working on finding a new place for the signing.