Stocks Opened Higher, Traded at All-time Highs

U.S. stocks opened higher on Monday, hitting fresh highs, buoyed by optimism about a U.S.-China trade deal. The Dow Jones Industrial Average lately jumped 150.08 points, 0.55%, to 27,497.44. The S&P 500 rose 16.04 points, or 0.52%, to 3,082.95. The Nasdaq Composite gained 61.12 points, or 0.73%, to 8,447.52.

U.S. oil futures on Monday were climbing toward a six-week high 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 69 cents, or 1.2%, to reach $56.89 a barrel. January Brent crude gained 84 cents, or 1.4%, to trade at $62.54 a barrel.

On Sunday, U.S. Commerce Secretary Wilbur Ross told Bloomberg News that he was confident the U.S. would reach the first part of a trade agreement with China this month, sticking to the timeline previously touted by the administration.