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U.S. Stocks Hovering In Positive Territory After Early Advance

(RTTNews) - After showing a strong move to the upside early in the session, stocks remain firmly positive in mid-day trading on Monday. Earlier in the day, the Nasdaq and the S&P 500 reached new record intraday highs.

Currently, the major averages are off their best levels but still hovering in positive territory. The Dow is up 117.00 points or 0.4 percent at 27,992.62, the Nasdaq is up 99.93 points or 1.2 percent at 8,619.71 and the S&P 500 is up 18.93 points or 0.6 percent at 3,129.22.

The strength on Wall Street partly reflects continued optimism about a U.S.-China trade agreement after a tabloid run by China's ruling Communist Party discounted "negative" media reports and said the economic superpowers are "very close" to a phase one deal.

China also remains committed to continuing talks for a phase two or even a phase three deal with the United States, the state-backed Global Times said on Twitter.

President Donald Trump and Chinese President Xi Jinping have also recently made positive comments about a potential trade deal despite reports of complications arising that could delay the agreement until next year.
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