Demand is driving Wall Street toward new all-time highs, CNBC’s Jim Cramer said Monday. The S&P 500 rose nearly 17 points, or 0.56%, setting a record close of 3,039.42, and the Nasdaq Composite expanded nearly 83 points, or 1.01%, missing its record close by about 4 points. The Dow Jones Industrial Average added more than 132 points, or 0.49%, though the 30-stock average is still about 400 points off its all-time high. The S&P 500 set a previous closing high of 3,025.86 in late July. The index bounced from an intraday low of 2,822.12 in early August, according to FactSet, to stage a roughly 7.7% gain through Monday’s market end. “Without strong demand, the averages never would have made it this far,” the “Mad Money” host said. He added that a trade truce between the U.S. and China helped “a host of flailing stocks to get their mojo back.” “You need to listen to the conference calls to know who has demand and who doesn’t. Right now, the demand ‘ayes’ have it, and that’s a big reason why can we keep going higher.” A slew of companies have reported quarterly results thus far this earnings season, and there’s evidence that… Read full this story
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Jim Cramer breaks down what's driving the stock market's rally toward all-time highs have 297 words, post on www.cnbc.com at October 28, 2019. This is cached page on Gatofuns. If you want remove this page, please contact us.