U.S. equities closed at records amid optimism over China trade relations and a fresh wave of merger and acquisition activity. The dollar strengthened.
The S&P 500, Dow Jones Industrial Average and Nasdaq Composite Indexes reached all-time highs after China said over the weekend that it will tighten intellectual property rules, a move aimed at boosting the chances of a trade deal between the two largest economies. Tech shares led the gains. Charles Schwab Corp. agreed to buy TD Ameritrade Holding Corp., while LVMH purchased U.S. jeweler Tiffany & Co.