Stock Market Record Surprises Skeptics Yet Again

The S&P 500 is at a record, after climbing about 6 percent from its August lows.

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Oct. 28, 2019

Stocks in the United States climbed to a record on Monday, building on a three-week run that’s been fueled by hopes for a trade deal with China and another cut in interest rates that could keep the economy growing.

The trade war between Washington and Beijing continues to be a key concern for investors, who are wary of the toll it is taking on American businesses. The gains Monday came after President Trump talked up the prospects for an interim deal that would provide farmers and companies some relief.

In the weeks since that agreement, what Mr. Trump has referred to as the “Phase One” trade deal, was first outlined on Oct. 11, stocks have edged steadily higher.

“We are looking probably to be ahead of schedule to sign a very big portion of the China deal, we’ll call it Phase One but it’s a very big portion,” he told reporters on Monday.