Fresh record highs for both the S&P500 and Nasdaq ahead of the signing of a phase one trade deal between the US and China - Dow up +83-points or +0.29%. Goldman Sachs Group Inc and Cisco Systems rose more than >1% each to lead the Dow higher. The broader S&P500 gained +0.70% (to 3,288.13), with Materials (up +1.36%) and Information Technology (+1.34%) leading ten of the eleven primary sectors higher, with Health Care (down -0.35%) the only laggard. The technology-centric NASDAQ rallied +1.04% (to 9,272.33). Apple Inc rose +2.14% and touched a fresh record high (US$317.07). Tesla Inc jumped +9.77% and above >US$500 for the first time, with analysts at Oppenheimer hiking their price target on the electric vehicle maker to US$612 per share from a previous target of US$385 per share. Traders also noted that short interest in Tesla has fallen to historical lows. Lululemon Athletica gained +4.40% after the athletic apparel company lifted its outlook for the current quarter. In merger and acquisition (M&A) news, Visa Inc has agreed to acquire privately held financial technology startup Plaid Inc for US$5.3B.
