U.S. Stocks Holding On To Strong Gains In Mid-Day Trading

(RTTNews) - After showing a strong move to the upside early in the session, stocks continue to see considerable strength in mid-day trading on Monday. With the upward move, the major averages have reached new record intraday highs.

Currently, the major averages are hovering firmly in positive territory. The Dow is up 186.53 points or 0.7 percent at 28,321.91, the Nasdaq is up 95.14 points or 1.1 percent at 8,830.02 and the S&P 500 is up 28.21 points or 0.9 percent at 3,197.01.

The strength on Wall Street reflects continued positive sentiment after the U.S. and China finally reached an agreement on a phase one trade deal last week.

The agreement, announced by U.S. and Chinese officials last Friday, includes suspending planned tariffs on Chinese goods as well as scaling back existing tariffs in exchange for Chinese structural reforms and purchases of U.S. goods.

The trade deal eliminates a lot of the uncertainty hanging over the markets, although traders still seem somewhat wary as they await more details about the agreement.
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