Wall Street hit record levels on Thursday after President Donald Trump tweeted that the United States was “very close” to a trade deal with China and on a report that U.S. trade negotiators had offered to cancel a fresh round of tariffs on Chinese goods.
The three main indexes opened lower but quickly gained ground after Trump’s statement, which comes just days before the tariffs go into effect on Dec. 15.
The Dow Jones Industrial Average .DJI was up 186.50 points, or 0.67%, at 28,097.80, the S&P 500 .SPX was up 20.20 points, or 0.64%, at 3,161.83 and the Nasdaq Composite .IXIC was up 37.21 points, or 0.43%, at 8,691.26.
Advancing issues outnumbered decliners by a 1.95-to-1 ratio on the NYSE and by a 1.92-to-1 ratio on the Nasdaq.
The S&P index recorded 77 new 52-week highs and two new lows, while the Nasdaq recorded 161 new highs and 43 new lows.