The Dow climbed 31.33 points, or 0.11% to end the day at 28,036.22. The S&P 500 gained 0.05% to close at 3,122.03. The Nasdaq Composite advanced 0.11% to 8,549.94. The major averages eked out fresh record highs, but the market's gains were capped amid mixed news around U.S.-China trade relations.
CNBC's Eunice Yoon, , reported that Chinese officials are pessimistic about the prospect of a U.S.-China trade deal. One of the biggest concerns for China, Yoon reports, is President Donald Trump saying the U.S. would not roll back tariffs as part of a phase one-deal. This pessimism offset the positive sentiment from trade news that was out over the weekend. Chinese state media said Saturday that both sides had "constructive" trade talks. Bottom line, stocks held their ground despite the mixed messaging on trade. However, investors remain on edge around the economic conflict.
Coty shares gained 2.6% after the company said it took a majority stake in Kylie Jenner's makeup company, Kylie Cosmetics. Meanwhile, Workday slipped 1.19% after Morgan Stanley downgraded the software company to equal weight from overweight.