Wall Street shares set a new record on Monday, Nov. 18: The Dow closed above 28,000, while S&P and NASDAQ also hit highs. According to some analysts, in general, there is optimism in the market for an eventual trade agreement between the United States and China.
A Fox Business report on Monday highlighted that the Dow Jones Industrial Averages closed above 28,000 for the second straight session on Nov. 18 (after reaching that value on Friday).
The data also revealed that the move from 27,000 was the 10th shortest 1,000-point gain in history lasting 90 days. The S&P 500 and NASDAQ also had with good results.
According to the Fox Business report, some businessmen consider the possible agreement with China to be positive. The end of the trade war would give the opportunity to a broad dimension of negotiations.
However, after breaking a new record, on Tuesday the Dow and the S&P fell, while the NASDAQ continued its upward trend.
Market reporter,Cris Matthews said in an article published in MarketWatch, that the contrast with the previous day in the New York Stock Exchange occurred because there are businessmen who are still skeptical that the two largest economies in the world would reach an agreement before Dec.15 (deadline for the imposition by Washington of new tariffs on Chinese imports).
New York Federal Reserve Chairman John Williams interprets that despite the challenges coming from abroad, the July rate cuts should help the U.S. economy continue to maintain stable growth.