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Dow, S & P 500 and Nasdaq Composite reach new highs



The Dow ( INDU ) rose by 0.1% or 27 points to a new record of 27,359 points. The Nasdaq Composite ( COMP ) climbed 0.2% to a new all-time high of 8,258 points.
The S & P 500 (] SPX ) ended Monday with little change, but still in positive territory, surpassing its last record by almost half a point. The S & P ended up with 3,014 points.
The winning season will begin this week in full swing. As usual, the big banks come first and Citigroup ( C ) led the pack on Monday. The bank has exceeded earnings estimates. Its shares have recovered from earlier losses, but have still fallen 0.1
%, according to Refinitiv. JPMorgan [ JPM ] Goldman Sachs [194559002] GOLDMAN SACHS ) and Wells Fargo [19459002( WFC ) are due to report on Tuesday.

Investors are also digesting Chinese GDP data – which did not affect equities as much as might have been expected, although growth was affected by a 27-year low.

The health of the Chinese economy has an impact on global growth and is closely monitored by investors. Nevertheless, the dealers shrugged their shoulders.

China's economy expanded at a pace of 6.2% yoy in the second quarter, the slowest quarterly growth since 1992. Despite the dramatic headline numbers, a slowdown was expected.
President Donald Trump tweeted as an answer : "US tariffs have a significant impact on companies that want to leave China for non-tariff countries." That's why Beijing wants to make a deal with Washington, he added.

A closer look at the data shows that "June was heading for a slight recovery on several fronts due to further government incentives," wrote Björn Giesbergen. Senior Economist at Rabobank. China has pledged to support its economy on several occasions in recent months.

As China's GDP slowed, retail sales in June surpassed consensus expectations, rising 9.8% yoy.


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