All 3 major US stock indexes spike to record highs on new trade optimism

Getty Images / Spencer Platt

  • All three major US stock indexes hit record highs Thursday after China said it reached an agreement with the US to roll back tariffs as trade talks move forward.
  • Chinese Commerce Ministry spokesperson Gao Feng said top negotiators engaged in “serious, constructive discussions” over the past two weeks, according to Bloomberg.
  • The announcement was welcome news for investors concerned about a prolonged trade war between the two countries.
  • Visit the Business Insider homepage for more stories.

US stocks climbed to all-time highs Thursday after the US and China agreed to remove existing tariffs, allaying fears of a prolonged trade war between the two countries.

Here’s a look at the major indexes as of the 11:20 a.m. on Thursday:

“In the past two weeks, top negotiators had serious, constructive discussions and agreed to remove the additional tariffs in phases as progress is made on the agreement,” a Chinese Commerce Ministry spokesperson, Gao Feng, said on Thursday, according to Bloomberg.

The news gave anxious investors hope that a resolution could eventually be reached to end the yearlong trade spat. Optimism around a deal between the US and China has helped stocks notch record highs several times over the last two weeks.

Here are the top five performers in the S&P 500 on Thursday:

Technology, financials, and energy stocks all rose more than 1.2%, offsetting a 1.5% loss in utilities. Industrials gained 0.7%, while communications fell 0.35% and consumer staples shed 0.25%.

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