U.S. stocks rose after Washington said it was close to finalizing parts of a trade pact with Beijing with reliable quarterly results from Intel Corp boosting investor sentiment. They are sending the S&P 500 briefly over the record high close, as three months ago.
The benchmark index SPX is peaking at 3,027.39, surpassing its closing record of 3,025.86. U.S. stocks rose early to post the U.S. Trade Representative’s office deputy-level talks would continue. President Donald Trump confirmed that China wanted “to make a deal very badly.”
Wall Street enjoyed an intense week, boosted by a clutch of better-than-expected third-quarter earnings reports. The little bit of positive trade news has boosted the market, but it wasn’t all that negative even before this news came up.
Volume on U.S. exchanges was 6.29 billion shares, compared to the previous 6.46 billion average for the full session over the last 20 trading days.