Economy

Dow Jones Hits Record High, Jumps 100+ After US-China Trade Talks

posted by Hannity Staff - 11.04.19

The Dow Jones Industrial Average reached its record high Monday morning; rising more than 100 points as US-China trade negotiations move forward.

“The Dow Jones Industrial Average reached a milestone on Monday as investor sentiment was lifted by optimism around a potential U.S.-China trade deal,” reports CNBC. “The 30-stock index rose 128 points, or 0.5% to hit its first all-time high since mid-July. Goldman Sachs contributed the most to the gains, rising 1.1%. Trade bellwethers Boeing and Caterpillar also traded higher.”


“Stock Market hits RECORD HIGH. Spend your money well!” posted the President on social media.

This is a developing story. Check back for updates throughout the day.

Original Story: November 1, 2019

The American stock market surged Friday after an October jobs report posted better-than-expected private payroll growth; sending the Dow Jones average up 250-points and the S&P 500 setting a new record.

“The Dow Jones Industrial Average traded 250 points higher, or 0.9%. The S&P 500 gained 0.8% to a fresh record high. The Nasdaq Composite also hit an all-time high, climbing 0.9%,” reports CNBC.

“The October jobs report was very strong,” said Gus Faucher, chief economist at PNC. “Job growth slowed a bit because of the GM strike, but with the strike over it should bounce back in November.”

“Stock Market up BIG! Record highs for S&P 500 and NASDAQ. Enjoy!” posted the President on social media.

 

October job creation topped analyst’s expectations this week; with the US economy adding more than 128,000 positions despite the ongoing worker strike at General Motors.

“Nonfarm payrolls rose by 128,000 in October as the U.S. economy overcame the weight of the GM autoworkers’ strike and created jobs at a pace well above expectations,” reports CNBC.

“Even with a decline of 42,000 in the motor vehicles and parts industry, the pace of new jobs well exceeded the estimate of 75,000 from economists surveyed by Dow Jones. The loss of jobs came due to the General Motors strike that has since been settled. That 42,000 job loss itself was less than the 50,000 or more that many economists had been anticipating,” adds the website.

“This report is yet another sign that the economy is still strong right now and adds to a list of indicators that are looking optimistic of late,” said Steve Rick, chief economist at CUNA Mutual Group. “The vigor of this labor market, along with a more positive housing market and solid Q3 GDP, should offer some welcome reassurance.”

The unemployment rate remains steady at 3.6%.

Read the full report at CNBC.