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Boeing helps Dow close at record high

Jonathan Garber

The Dow Jones Industrial Average ended at a record high on Monday thanks to a bounce in shares of aerospace giant Boeing.

The company, in a statement to FOX Business, confirmed that "it is possible that the resumption of MAX deliveries to airline customers could begin in December..." contingent on various timetables with the FAA.

The S&P 500 and the Nasdaq held onto modest losses amid concerns the U.S. and China still have differences that need to be ironed out before the two sides reach a phase one trade deal.

“China very much wants to make a deal,” Trump said as he boarded Air Force One on Saturday. “They’re having the worst year they’ve had in 57 years. Their supply chain is all broken, like an egg, they want to make a deal, perhaps they have to make a deal, I don’t know, I don’t care, that’s up to them.”

On Friday, the president said, contrary to reports, that he has not agreed to roll back tariffs if a phase one trade deal were reached.

"They'd like to have a rollback," Trump told reporters at the White House. "I haven't agreed to anything."

The S&P 500 and Nasdaq continue to trade near record levels despite Monday's drop. The next record-high close for the S&P 500 will be the 100th while Trump has been in office, according to Dow Jones Market Data.

Alibaba shares were lower despite the e-commerce giant breaking its sales record for Singles Day. The company says gross merchandise volume reached 268.4 billion yuan ($38.4 billion) on Monday, eclipsing last year's record.

Walgreens Boots Alliance shares were higher after Bloomberg reported private-equity firm KKR has approached it about a go-private deal. With a market capitalization of nearly $53 billion, a Walgreens leveraged buyout would be the biggest in history.

Tesla was gained ground after unveiling the first cars made at its Shanghai Gigafactory. Also providing a boost was an analyst at the investment bank Jefferies raising their price target by 33 percent to $400 due to strong margins.

Sprint fell after it was reported that CEO John Legere is in talks to replace WeWork co-founder Adam Neumann as CEO.

Earnings reporting was light on Monday, but several notable companies will be releasing their quarterly results ahead of Tuesday's opening bell.

The bond market was closed on Monday in observance of Veterans Day.

In Europe, London's FTSE was down by 0.4 percent, pacing the decline, after government data showed the U.K. economy grew 0.3 percent to avoid a recession. However, the 1 percent year-over-year growth rate was the weakest since the financial crisis.

Shares declined Monday in Asia as investors watched for the latest developments in the China-U.S. trade war saga.

Hong Kong led the retreat, with the Hang Seng falling 2.6 percent after a police officer wounded a protester in a shooting. Demonstrators blocked subway lines and roads in the southern Chinese financial hub during the Monday morning commute.

China's Shanghai Composite declined 1.8 percent, while Japan's Nikkei lost 0.3 percent.

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FOX Business' Ken Martin and The Associated Press contributed to this article.

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