Wall Street indexes skyrocket as Trump strikes trade deal with China: report

The Wall Street Bull sculpture is seen in the Financial District on December 8, 2016 in New York.

The main indexes on Wall Street hit record highs on Thursday after the United States reached a “deal in principle” with China to resolve a trade war that has rattled markets for nearly for almost 18 months.

The Dow Jones Industrial Average rose 220.75 points, the S&P 500 26.94 points and Nasdaq Composite 63.27 points, Reuters reports.

According to the wire service, each of the indexes hit intraday records and the S&P 500 and Nasdaq posted record highs at the closing bell.

Earlier this week, both the Federal Reserve and Europe’s central bank kept interests steady.

The S&P’s career day pushed its growth for the year up to 26 percent, much of which has come due to interest rate cuts by the Fed.

On the day, over and 8 billion shares changed hands on U.S. exchanges, breaking the past 20-day average of 6.7 billion, Reuters says.

Tags Dow Jones Nasdaq NYSE S&P 500 The Federal Reserve The New York Stock Exchange

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