NEW YORK — The stock market eked out another record close Monday as investors remained confident that stimulus from central banks would revive global growth. Retail stocks rose ahead of the crucial holiday season.
Stocks have surged following a slump that lasted from mid-September to mid-October. The rally has been driven by optimism that central banks in Europe, China and Japan will invigorate economic growth outside the U.S.
“You clearly have momentum favoring stocks right now,” said Russ Koesterich, chief investment strategist at Blackrock.