REUTERS: Wall Street's three main indexes hit record highs on Monday, lifted by gains in energy and technology stocks on hopes of a U.S.-China trade deal and an improving domestic economy.
"Signing these deals take time. All that is needed for markets to be happy right now is for an agreement to be announced," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. At 1:07 p.m. ET, the Dow Jones Industrial Average was up 97.28 points, or 0.36per cent, at 27,444.64, while the S&P 500 was up 12.40 points, or 0.40per cent, at 3,079.31. The Nasdaq Composite was up 45.81 points, or 0.55per cent, at 8,432.20.
Under Armour Inc fell 17per cent as the sportswear maker lowered its full-year revenue forecast for a second straight time this year, a day after it confirmed a federal probe related to its accounting practices.