The Dow Jones Industrial Average on Monday hit a new high of 27,500 in morning trading, following recent records set by the S&P 500 and the Nasdaq.
A higher-than-expected jobs report on Friday and strong quarterly earnings have helped push stock markets past a summer slump.
{mosads}The economy added 128,000 jobs last month, well ahead of the 85,000-100,000 economists had predicted due to the now-finished General Motors strike.
The rally also follows comments from Commerce Secretary Wilbur Ross to Bloomberg that the U.S. was set to reach a “Phase One” trade deal with China by this month.
The trade war with China has been one of the central concerns for businesses and investors, and cited as a drag on the nation’s economic growth prospects.
President Trump, who is relying on a strong economy to fuel his reelection campaign, trumpeted the news on Twitter on Monday.
“Stock Market hits RECORD HIGH. Spend your money well!” he wrote.