Over the weekend, trade negotiations between the US and China have moved forward, which has increased the likelihood that a trade agreement can be secured later in the week between the world's two largest economies.
The consequence was that Wall Street continued to surge and the Dow Jones industrial index had risen 0.7 percent at the close, the broad S&P 500 index 1.2 and Nasdaq's technology-heavy composite index 1.9 percent.
Today's catalyst is the news that the negotiations with China on tariffs are expected to go well, says Louis Navellier, founder of the financial advisory firm Navellier & Associates.
All three major indexes closed at new record levels, including the S&P 500 for the first time in over 6,800 points.
The large technology companies, which are particularly exposed to trade with China, had a very pleasant day. All seven index-heavy companies, known as the "magnificent seven", rose more or less significantly.
All seven are also on the list of the world's ten most valuable listed companies.
Semiconductor manufacturer Qualcomm, in turn, launched deliveries of new AI chips and climbed 11.1 percent to a new record level.
Friday's unexpectedly low US inflation figures also fueled the stock market euphoria as they give increased hope for more interest rate cuts in the US.
The market is also looking forward to the quarterly reports from five of the seven magnificent on Wednesday and Thursday.
