Stocks Ended at Record Highs

U.S. stocks ended at record highs on Monday as optimism about a near-term U.S.-China trade resolution buoyed sentiment on Wall Street. The Dow Jones Industrial Average rose 114.75 points, or 0.42%, to 27,462.11. The S&P 500 gained 11.36 points, or 0.37%, to 3,078.27. The Nasdaq Composite advanced 46.80 points, or 0.56%, to 8,433.20.

Oil futures settled higher on Monday, as hope for a Sino-American trade resolution and Saudi Arabia’s plans to launch a public offering of Aramco helped to bolster sentiment in the energy complex. West Texas Intermediate crude for December delivery rose 34 cents, or 0.6%, to settle at $56.54 a barrel. January Brent crude gained 44 cents, or 0.7%, to finish at $62.13 a barrel.

Uber Technologies Inc. reported another mega-loss on Monday. It reported a third-quarter loss of $1.16 billion, or 68 cents a share. Revenue improved 30% to $3.81 billion, from $2.94 billion a year ago.

Shake Shack Inc. (SHAK) reported third-quarter net income of $10.3 million, or 31 cents a share, compared with $5 million, or 17 cents a share, in the year-ago period. Adjusted earnings were 26 cents a share. Revenue rose to $157.8 million from $119.6 million in the year-ago quarter. Same-store sales, however, rose 2%.