US stock rises as China, US agree on phase one trade deal
File Photo: Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, US, December 3, 2019. Reuters/Lucas Jackson
US stocks hit fresh record levels on Friday after China said first phase trade talks with the United States have achieved major progress and that Beijing would cancel tariffs scheduled to take effect on Sunday.
The Dow Jones Industrial Average .DJI was up 107.74 points, or 0.38%, at 28,239.79, the S&P 500 .SPX 8.97 points, or 0.28%, at 3,177.54. The Nasdaq Composite .IXIC was up 41.69 points, or 0.48%, at 8,759.01.
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Wall Street opened lower after President Donald Trump said a report about a trade deal with China was completely wrong.
