What happened to the stock market Monday: S&P, Nasdaq hit records


Traders work on the floor at the New York Stock Exchange.

Brendan McDermid | Reuters

Dow Jones Industrial Average rises 83 points

The Dow climbed 83.28 points, or 0.29%, to end the day at 28,907.05. The S&P 500 and Nasdaq Composite rose 0.70% and 1.04%, respectively, to record highs. Stocks rose as optimism around the signing of the so-called phase one trade deal increased.

China no longer a currency manipulator

CNBC learned through a source that the U.S. was ready to remove the currency manipulator label from China ahead of the Wednesday’s phase-one trade deal signing. The news lifted stocks to their highs of the day and helped the S&P 500 and Nasdaq reach all-time highs. But the rising…


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