- Stocks closed at fresh record highs Monday as optimism rose around the "phase one" trade agreement between the United States and China.
- Boeing's Dennis Muilenburg will step down from his role as CEO of the world's biggest planemaker amid fallout from the 737 MAX crisis.
- Tesla is Real Money's Stock of the Day. A report said Tesla has agreed to a $1.4 billion loan from a consortium of banks in China that will help expand production at its Shanghai factory.
Stocks closed at fresh record highs again Monday as optimism rose around the "phase one" trade agreement between the United States and China.
A move Monday by China to trim import duties on U.S. agricultural products, as well as certain semiconductors, suggested authorities were prepared to implement the "phase one" pact reached earlier in December.
The Dow Jones Industrial Average finished up 96.44 points, or 0.34%, to 28,551.53, the S&P 500 rose 0.09% to 3,224.01, and the Nasdaq climbed 0.23% to 8,945.45.
The S&P 500 and Nasdaq also hit fresh all-time intraday highs in trading Monday.
Stocks set records last week after President Donald Trump said he had "a very good talk" with President Xi Jinping of China about the trade agreement and said China had started "large scale" purchases of agricultural products.
Muilenburg will be replaced by David Calhoun, who took on Muilenburg's chairmanship earlier this year, starting on Jan. 13. Greg Smith, Boeing's chief financial officer, will serve as interim CEO during the transition period, the company said.
Muilenburg's departure, after four-and-a-half years at the helm, comes just days after the world's biggest planemaker said it would miss its own deadline for recertification of the grounded 737 MAX.
Boeing shares rose 2.9% to $337.55.
Reuters reported Monday that Tesla has agreed to a $1.4 billion loan from a consortium of banks in China that will help it expand production at its Shanghai factory. The five-year loan will help Tesla expand the Shanghai plant, its first outside of the United States, toward its goal of producing 1,000 Model 3 sedans each week that will be sold in the world's biggest car market.
Bloomberg, meanwhile, reported that Tesla was moving closer to buying a 740-acre plot of land in the German state of Brandenburg, home to Volkswagen, Daimler and BMW, as part of its plans to build a so-called gigafactory outside of Berlin.
Durable goods orders for November fell 2% in November, the biggest decline since May. Economists had been calling for durable goods to rise 1%.
New home sales in the U.S. rose 1.3% to a seasonally adjusted annual rate of 719,000 units in November.