Wall Street ekes out gains

Stocks inched higher Monday amid mixed headlines on U.S.-China trade relations. But that was enough for the three big indexes to rise one-tenth percent to close at record highs. Consumer stocks rallied, but falling oil prices dragged down energy stocks, capping the gains.

First American Trust chief investment officer Jerry Braakman:

SOUNDBITE: FIRST AMERICAN TRUST CHIEF INVESTMENT OFFICER JERRY BRAAKMAN (ENGLISH) SAYING:

"We're really optimistic that, at least for the next few months here, that from our market perspective, we have a lot of support, both with the Fed action and then actually wrapping up a very better-than-expected earnings season."

Energy stocks like Exxon Mobil, Chevron, and Apache were the day's biggest losers on the S&P 500.

Shares of HP and Xerox declined after HP turned the table on its printing rival. HP rejected Xerox's $33.5 billion offer. But it's keeping its options open, saying it might instead make its own bid to take over Xerox.

Coty shares rallied. The cosmetic maker said it'll pay $600 million to buy a majority stake in reality TV star Kylie Jenner's make-up and skincare business.