President Donald Trump on Monday celebrated a record for the S&P 500 index, as he said U.S.-China trade negotiations were ahead of schedule.
STOCK MILESTONE
Tweeting en route to Chicago, Trump hailed the S&P 500’s SPX, +0.56% opening at a record intrasession high, calling it a “big win” for jobs and 401(k) accounts.
As MarketWatch writes, expectations around U.S.-China trade talks remain a positive force in the market. The S&P closed at a record, and the Dow Jones Industrial Average DJIA, +0.49% and Nasdaq COMP, +1.01% also finished higher for the day.
Read: S&P 500 carves out record intraday as third-quarter earnings roll out.
Speaking to reporters, Trump characterized the negotiations as moving faster than expected.
“We are looking probably to be ahead of schedule to sign a very big portion of the China deal, and we’ll call it phase one but it’s a very big portion,” the president said. “That would take care of the farmers. It would take care of some of the other things. It will also take care of a lot of the banking needs,” he added. Trump is scheduled to meet with Chinese President Xi Jinping at the Asia Pacific Economic Cooperation summit in Chile next month.
IMPEACHMENT AND AL-BAGHDADI
After the Sunday announcement that the leader of Islamic State died in a U.S.-led raid in Syria, Trump included in his tweet, “Even killed long sought ISIS murderer, al-Baghdadi. We are stronger than ever before, with GREAT upward potential. Enjoy!”
In his comments to reporters, Trump suggested House Democrats’ impeachment probe contributed to his decision to withhold notice to congressional leaders before Saturday’s raid on Islamic State leader Abu Bakr al-Baghdadi. Trump told reporters Monday he didn’t inform the so-called “Gang of Eight” because “Adam Schiff is the biggest leaker in Washington.”
The group includes the top Democrat and Republican in both chambers and the chairs and ranking members of the intelligence committees. Schiff, the Democratic chairing the House intelligence committee, is playing a central role in the impeachment inquiry.
EXECUTIVE ORDER AND SLAP AT CHICAGO
After speaking in Chicago at the International Association of Chiefs of Police annual conference, Trump signed an executive order setting up a new commission on law enforcement that will study issues including homelessness and substance abuse.
The president also blasted the city, and Police Superintendent Eddie Johnson, who skipped the event. “All over the world they’re talking about Chicago,” Trump said. “Afghanistan is a safe place by comparison.” Trump has often criticized Chicago for its status as a sanctuary city, meaning it refuses to work with federal authorities to round up people living in the U.S. illegally.
Johnson said his boycott was a personal decision. “With some of our communities under siege, it just doesn’t line up with our city’s core values along with my personal values,” he said Saturday.
The Associated Press contributed to this article.