S&P 500 jumps to a new record | What's wrong with the Dow?

S&P 500 jumps to a new record | What's wrong with the Dow? | Which stocks will lead from here?

MON, OCT 28, 2019

EVENING BRIEF

AS OF MON, OCT 28, 2019 • 04:01 ET

DJIA		27089.91
		+0.49%	+131.85

S&P 500		3039.33
		+0.56%	+16.78

NASDAQ		8325.99
		+1.01%	+82.87

Most Active

DOW
NAME	LAST	CHG	%CHG
MSFT	144.19	+3.46	+2.46%
INTC	56.76	+0.30	+0.53%
AAPL	249.05	+2.47	+1.00%

S&P 500
NAME	LAST	CHG	%CHG
BAC	31.84	+0.12	+0.38%
T	38.49	+1.58	+4.28%
AMD	33.69	+0.98	+3.00%

NASDAQ
NAME	LAST	CHG	%CHG
AMD	33.69	+0.98	+3.00%
MSFT	144.19	+3.46	+2.46%
INTC	56.76	+0.30	+0.53%

EDITOR'S NOTE

Finally.

The S&P 500 reached a record on Monday, breaching its July 26 high of 3,027.98. The milestone comes after weeks of getting within striking distance of the previous record but always falling short.

But stronger-than-expected earnings, combined with U.S.-China trade progress and diminishing fears around the economy, helped the S&P 500 break out to a fresh all-time high.

Monday's record extended the current bull market to 3,885 days, which is the second-longest on record, data from Bespoke Investment Group shows. The S&P 500 has rallied more than 300% during that bull market.

Apple, UnitedHealth and J.P. Morgan Chase were among the stocks pushing the S&P 500 to Monday's record. Those stocks are the three biggest points contributors to the S&P 500 in October, CNBC's Michael Sheetz writes.

Chart analysts think Monday's move sets up the S&P 500 for further gains, CNBC's Tom Franck writes, while an analysis by CNBC's Maggie Fitzgerald revealed Wall Street is betting on companies such as Amazon, Boeing and Disney to lead the bull market's next leg higher.

To be sure, the market faces two major events later this week: a key Federal Reserve meeting and the release of October's jobs report.

The Fed is expected to announce a 25 basis-point rate cut on Wednesday. But CNBC's Patti Domm reports economists and market experts are divided on what the Fed will do following this week's meeting. Some are forecasting the Fed will keep cutting rates, while others see the Fed raising the bar for further easing down the road.

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