Let's talk about the Dow hitting a record high.
All three major U.S. stock indexes hit record intraday highs Monday as investors shifted into buying mode following a stronger-than-expected U.S. jobs report and signs of progress in U.S.-China trade talks.
Jim Cramer has some thoughts on the Dow hitting an all-time high and what that means for the markets.
"I think that the Dow's got a lot of industrials and people are saying, wait a second, if a trade deal occurs, then a lot of those industrials are going to go up. And I think it's correct...But the fact is is that the trade talks are being led by Wilbur Ross. He's a very practical man. He understands exactly how the Chinese have wiped out certain industries--steel. So he's not someone [to be] trifled with," said Cramer.
However, Real Money contributor Guy Ortmann says that the market highs aren't necessarily telling the whole story.
"The market continues to march higher and along with that positive technical events are taking place. Yet low VIX levels and overbought stochastic readings suggest some potential for a reemergence of volatility and retracement should some negative news hit the tape," wrote Ortmann.
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