US markets beat records amid China trade pact

Donald Trump thanked those involved in the deal in a speech at the White House (Evan Vucci/AP)

US markets beat records amid China trade pact

Independent.ie

Markets pushed higher on Wednesday as traders waited for the US and China to sign a first-stage trade deal to bring their long-running trade war to an end.

https://www.independent.ie/world-news/us-markets-beat-records-amid-china-trade-pact-38865306.html

https://www.independent.ie/world-news/f3d36/38865305.ece/AUTOCROP/h342/ipanews_f3e751b5-eea3-493d-b041-faa496ed288e_1

Markets pushed higher on Wednesday as traders waited for the US and China to sign a first-stage trade deal to bring their long-running trade war to an end.

The US indexes Dow Jones and S&P 500 were up by 0.59% and 0.44% respectively, hitting record highs.

The global cheer also helped push up London’s FTSE 100 by 0.27%, or 20.45 points, to 7642.8. The FTSE 250, meanwhile, lost 0.2% to 21713.11.

US president Donald Trump signed the phase one trade deal at the White House on Wednesday morning US time.

The strength of the US equity markets has helped European benchmarks, but the mood is still relatively muted David Madden, CMC Markets

“As you know, we just broke the 29,000 mark on the Dow, markets are up substantially today,” Mr Trump said in a speech.

The two countries first hashed out the deal in December.

It aims to end a spiral of retributive tariffs that the two countries put on their imports.

Mr Trump promised to travel to China for phase two negotiations “at a later date”.

“The interim trade deal between the two largest economies in the world should help global trade relations, so that should ease concerns in this part of the world.

“The strength of the US equity markets has helped European benchmarks, but the mood is still relatively muted,” said David

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