S&P 500, Nasdaq end at records ahead of US-China trade deal

The broad-based S&P 500 jumped 0.7 per cent to 3,288.13, while the tech-rich Nasdaq Composite Index gained 1.0 per cent to end 9,273.93, both eclipsing all-time highs reached last week.The Dow Jones Industrial Average advanced 0.3 per cent to 28,907.05 two days before President Donald Trump is due to sign a"phase one" agreement with Beijing.

"We enter the week with some enthusiasm at getting the phase one deal signed," said Art Hogan, chief market strategist at National Securities, adding that investors were also hopeful that an upcoming trove of banking earnings would be good.AdvertisementCompanies in the S&P 500 are projected to report a 2.0 per cent drop in earnings for the quarter, according to Factset.

Large technology companies helped lead the market, with Apple winning 2.1 percent, Facebook 1.8 per cent and Netflix 3.0 per cent. Tesla jumped nearly 10 per cent following an upgrade from Oppenheimer. But Five Below, a retailer focused on teens and other younger shoppers, plummeted 11.4 per cent as it cited disappointing holiday sales.

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