Technology companies and banks helped power stocks on Wall Street broadly higher Monday, extending the market’s gains of the past two weeks.
The rally came as investors found fresh reason for optimism as the U.S. and China continue negotiations aimed at resolving their costly trade war. China’s top negotiator said over the weekend that “substantial progress” was being made in its talks with the U.S. Tensions over trade between Washington and Beijing have cooled recently.
The latest gains nudged the S&P 500 above 3,000 points for the first time in a month. The benchmark index is now within 0.7% of its all-time high set on July 26 but could need a catalyst to set a record.