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Major Averages Climbing To New Highs For The Session

(RTTNews) - After turning lower over the course of the previous session, stocks have moved mostly higher during trading on Monday. With the upward move on the day, the tech-heavy Nasdaq has reached a new record intraday high.

In recent trading, the major averages have reached new highs for the session. The Dow is up 75.70 points or 0.3 percent at 28,899.47, the Nasdaq is up 64.67 points or 0.7 percent at 9,243.53 and the S&P 500 is up 16.57 points or 0.5 percent at 3,281.92.

The strength on Wall Street comes amid optimism about the phase one U.S.-China trade deal due to be signed later this week.

Chinese Vice Premier Liu He is scheduled to visit Washington to sign the deal, which is said to include reduced tariffs on Chinese goods in exchange for increased Chinese purchases of U.S. agricultural products.

In an interview with Fox News on Sunday, Treasury Secretary Steven Mnuchin said the agreement calls for China to purchase $40 to $50 billion worth of U.S. agricultural products annually.
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