President Donald Trump encouraged stock investors to “spend money well” after the Dow Jones Industrial Average joined the S&P 500 and Nasdaq Composite to hit record highs on Monday, Nov. 4.

CNBC data shows Dow Jones closed up 114.75 points, or 0.42%, at 27,462.11, its first all-time high since mid-July.

S&P 500 and Nasdaq also reached their new milestones, after surging to the record highs last Friday, Nov. 1.

S&P finished Monday up 11.36 points, or 0.37%, to a fresh all-time high of 3,078.27, while Nasdaq advanced 46.8 points, or 0.56% to 8,433.20, also marking a record level.

According to CNBC, all three benchmarks on the U.S. stock exchanges reached record highs as investors were upbeat about strong earnings, a positive job report, and a potential U.S.-China trade deal.

FactSet data shows 75% of the S&P 500 companies have reported their earnings beyond analyst expectations.

A report from Labor Department on Friday showed the U.S. economy added 128,000 new jobs in October, surpassing economists’ forecasts.

Also boosting risk appetite for stocks, Commerce Secretary Wilbur Ross said Sunday that American firms would be granted licenses to sell to Chinese telecom giant Huawei “very shortly,” an indication of a deflating trade war between two largest economies.

Monday’s rise brought Dow Jones’s year-to-date gain to nearly 18%, the biggest one-year gain since 2017, when it jumped 28.2%.

S&P 500 advanced more than 22% so far this year, and Nasdaq surged more than 27%. 

President Trump applauded the numbers, saying in a tweet: “Stock Market hits RECORD HIGH. Spend your money well!”

The president also took the chance to jeer at bias news media which refused to report on his administration’s achievements, but focused on an impeachment inquiry that the House Democrats launched based on an anonymous whistleblower’s allegations.

“All-Time High for Stock Market and all the Fake News wants to talk about is the Impeachment Hoax!,” he tweeted.

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