04:40 GMT +318 November 2019
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    An investor looks at an electronic board showing stock information of Shanghai Stock Exchange Composite Index at a brokerage house in Beijing, August 26, 2015

    S&P 500 Index Reclaims Record Amid Reports of Progress on US-China Trade Deal

    © REUTERS / Jason Lee
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    The hike in S&P 500 comes amid reports that the United States and China are moving towards the conclusion of certain parts of a trade deal following a phone call between negotiators from both sides.

    The S&P 500 Index has briefly reclaimed its old record exceeding 3025.86 which it previously reached in July.

    The index was up by 0.6 %, while the Dow Jones Industrial Average and the Nasdaq both gained 0.7%.

    The development comes as the United States and China appeared to be heading towards finalising certain parts of a trade agreement after a phone call between negotiators from both countries.

    The US and China, the world’s major economic powerhouses, have been engulfed in an on-off trade dispute that has cast a shadow over financial markets and global growth. The talks between the two nations ended last week with Trump saying both sides reached a “very substantial phase one deal."

    The two countries previously came close to concluding a trade deal in May.

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    S&P 500, Trade, US, China
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