Investing.com – Stocks surged Monday with the major indexes hitting all-time highs and closing highs.
The catalysts were decent economic data from China and continuing market euphoria that at least some sort of U.S. trade deal looks done.
The gains came despite a 4% decline in shares of Boeing (NYSE:BA) on reports the company may shut down production of its 737 Max jetliner until it wins an OK from the Federal Aviation Administration.
The S&P 500 was up 0.7%. The Nasdaq Composite added 0.91%. The Dow Jones industrials rose just 0.36%, or 100 points. The blue chips, however, had been up as many as 200 points early in the session.
Boeing's decline subtracted nearly 100 points from the Dow. Twenty-three Dow stocks were higher, led by UnitedHealth Group (NYSE:UNH), Pfizer (NYSE:PFE) and Apple (NASDAQ:AAPL).
All 11 S&P 500 sectors were higher, led by energy, health care, utilities, technology and financial stocks.
In addition to the data from China, stocks in Europe surged after the Conservatives' win in last week's election in the United Kingdom.
FedEx (NYSE:FDX) shares fell 1% after Amazon.com (NASDAQ:AMZN) said it would not allow vendors selling wares to Prime customers to use FedEx Ground. The ostensible reason was poor service, but Amazon has been trying to stop shipping with anything related to FedEx.
Energy shares were higher on the prospect of higher oil prices.
Interest rates also moved higher as investors moved cash away from bonds into stocks.