11/4/2019, 10:00 PM (Source: TeleTrader)
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Wall Street closes at record highs on trade deal hopes

United States stock markets finished the first trading session of the week at new record highs propelled higher by optimistic statements relating to the ongoing trade war between Washington and Beijing, as well as strong corporate earnings. Meanwhile, Federal Reserve Bank of Minneapolis President Neel Kashkari cautioned against rising interest rates too early. US Census Bureau reported a 0.6% decline in factory orders in September.

In business news, Stryker announced it was buying Wright Medical Group N.V. for $4.0 billion. The McDonald's Corp.'s chief people officer was reported to be departing the company, just a day after the ousting of CEO Steve Easterbrook. Under Armour Inc. confirmed its accounting practices were being investigated by the Justice Department and the Securities and Exchange Commission. Uber Technologies Inc. was set to release its third-quarter revenue report right after the bell.

The Dow Jones Industrial Average rose 0.42% at the closing bell. Chevron Corp. was the best performer, growing 4.63%. The Nasdaq 100 increased 0.61%, as NetEase Inc. advanced 6.28%. The S&P 500 gained 0.37% with Cimarex Energy Co. jumping 7.09%.

The euro dropped 0.34% to $1.11280 at 3:59 pm ET. The pound lost 0.46% against the dollar at the same time, to sell for $1.28795.

Breaking the News / MD