BENGALURU – US stock indexes traded just below all-time highs on Monday as investors awaited the signing of a preliminary trade deal between the United States and China, as well as the start of the fourth-quarter earnings season.
High-profile technology and internet companies including Apple, Facebook, Microsoft and Amazon.com, which have recently powered Wall Street to all-time highs, boosted the main indexes.
Google-owner Alphabet was on course to become the fourth publicly traded US company to be valued at $1 trillion.
An easing of Middle East tensions and signs that the Phase 1 US-China trade agreement will be signed have encouraged buying of risky assets, even though investors know little in the way of details of an agreement expected to be signed in Washington on Wednesday.
“There is some concern about translation of the contract (with China),” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.