Stocks continue higher with Dow rising for seventh straight session.
U.S. stocks advanced on Monday, with the Dow Jones Industrial Average (NYSEARCA:DIA) recording its seventh consecutive gain as tensions between China and the United States eased.
The blue-chip index rose 68.24 points, or 0.3%, to close at 24,899.41.
The broader S&P 500 Index (NYSEARCA:SPY) gained 0.1% to finish at 2,730.13. Four of 11 primary sectors contributed to the rally, with energy and healthcare leading the way.
Meanwhile, the technology-driven Nasdaq Composite Index (NYSEARCA:QQQ) advanced 0.1% to 7,411.32.
A measure of implied volatility known as the CBOE VIX (NYSEARCA:VXX) rose on Monday but continued to trade well below the historic average. The so-called “fear index” closed at 12.93, having gained more than 2%.
President Donald Trump pledged on Sunday to help Chinese technology company ZTE get back to business after a U.S. ban hampered the company’s ability to do operate. Trump’s actions signal greater room for negotiation with China on matters related to trade.
“President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast. Too many jobs in China lost. Commerce Department has been instructed to get it done!” Trump tweeted Friday.
The Final Word: U.S. stocks surged more than 2% last week, marking one of the strongest stretches of the year. Gains were largely driven by upbeat earnings and signs of cooling inflation. The continuation of the rally could depend in large part on how investors view geopolitical risks involving China, North Korea and Iran.