Stocks

Stocks Surge to Record Highs Before Trade Deal Signing

The Dow Jones Industrial Average was up 157 points, or 0.5%. The S&P 500 and the Nasdaq Composite each gained 0.4%.

The Dow Jones Industrial Average was up 157 points, or 0.5%. The S&P 500 and the Nasdaq Composite each gained 0.4%.

View From the Top. The three major U.S. stock market indexes rose to new records as the U.S. and China meeting to sign an initial trade deal outweighed slightly disappointing earnings releases from Bank of America and Goldman Sachs Group, and lower-than-expected sales numbers from Target.

The Dow Jones Industrial Average was up 157 points, or 0.5%. The S&P 500 and the Nasdaq Composite each gained 0.4%.

Midday Movers

Mylan (ticker: MYL) gained 5% after the company’s CEO said at the J.P. Morgan Healthcare conference that he’s “extremely confident” in the company’s forecast.

Nielsen Holdings (NLSN) rose 3.7% after the company announced it had hired a new chief financial officer and an executive who will become the CEO of Nielsen Global Connect once that business is spun out.

McKesson (MCK) was up 2.5% after Mizuho raised its price target on the stock.

Target (TGT) dropped 7.3% after the retailer said that same-store sales rose 1.4% during the holiday shopping season, below Wall Street’s expectations of a 3.7% gain.

Align Technology (ALGN) was down 4.2% after its competitor SmileDirectClub (SDC) said it would start selling its teeth aligners directly to dentists and orthodontists.

Write to Ben Walsh at ben.walsh@barrons.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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