The stocks in the United States soar to a new high this Monday as they extended the record-breaking run from the previous week as the investors showed great optimism on the economic data which was strong and the positive sentiments in relation to trade as well as the earnings which were at a high.
There was a rise in the Dow Jones industrial average at midday by about 110 points which put it on course to surpass the record it set in the month of July when it closed at 27,398. The S&P 500 and the NASDAQ index had also been on the rise with the highs they had set last Friday.
There has been a rally in the markets largely due to the jobs report which was better than what had been expected particularly in a month that had been affected by one of the biggest strikes for a private-employer in the recent past and the assurances provided by both China and USA that the trade deal is about to become a reality soon. The S&P500 has shown a growth of 22 % in the year and is on course for the best performance it has shown since the year 2013.
Economists on Monday have dismissed the fears of a recession being imminent as the stock market is climbing and reaching to record highs.
This rise in the stock market is a shift which has been welcomed by the investors after the month of October was a rocky one when there was an uncertainty about trade in addition to the recession warnings which were casting a doubt over the economic expansion’s life span which has now become the longest in the history of United States.