Reuters: Traders returned from the Christmas break to Beijing’s reaffirmation that it was in close contact with Washington about the initial trade agreement, which is widely expected to be signed in early January.
President Donald Trump on Tuesday confirmed the pact would be formalized at a signing ceremony, but did not disclose a date or location.
Hopes of a breakthrough in the prolonged trade war, combined with a loose monetary policy and robust domestic data, have powered U.S. stocks to record highs in the past few weeks.
The S&P 500, which has touched all-time intraday highs in two out of three sessions this week alone, is about one percentage point short of its best year since 1997.
The Nasdaq was on track for an 11 session winning streak.
(Reuters) – U.S. stock indexes were set to open near record highs on Thursday and the S&P 500 was on course for its best year since 2013 on optimism over an imminent U.S.-China trade deal.
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