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US Stocks Back to Record High Momentum as China Affirms Signing of Phase One Trade Deal

© AP Photo / Richard DrewTrader Peter Tuchman works on the floor of the New York Stock Exchange, Friday, Dec. 28, 2018.
Trader Peter Tuchman works on the floor of the New York Stock Exchange, Friday, Dec. 28, 2018.  - Sputnik International
NEW YORK (Sputnik) - Wall Street regained its record-high setting momentum on Thursday as China affirmed it will sign the Phase One trade deal with the United States next week, driving US stock prices to fresh all-time peaks.

Traders said the perception that the United States was not being pressed into a war with Iran, as well as the drop in weekly US jobless claims, also contributed to driving equity markets higher.

The top US stocks barometer, the S&P500, which measures the value of the 500 largest US corporations by market capitalization, was up 0.5 percent at 3,268 at 10:15 a.m.

The New York Stock Exchange in New York City - Sputnik International
Dow Jones Index Crosses 28,000 Pts. Record Based on Hopes of US-China Trade Deal
The S&P 500 hit a record high of 3,272 earlier after China's commerce ministry said Vice Premier Liu He will travel to Washington between January 13 and 15 to sign the Phase One deal with the United States.

The technology-heavy Nasdaq Composite Index was up 0.7 percent at 9,198. It hit a record high of 9,212 earlier.

The Dow Jones Industrial Average rose 0.4 percent to 28,871, after an all-time high of 28,919 earlier. The Dow closed 2019 up 23 percent for its best performance in two years.

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