US indexes hit record highs on US-China trade deal hopes

Thursday, 12. December 2019 16:03

Stocks in the United States extended gains on Thursday with all major indexes hitting record highs after US President Donald Trump said Washington is getting "very close" to a "big deal" on trade with China. Trade hopes were further fueled by reports that the US offered to cut existing tariffs on Chinese goods by 50% and cancel the additional duties set to take effect on December 15.

The Dow Jones jumped 1% or 277 points at 10:04 am ET. Cisco Systems led the gains, gaining 2.53% at 10:21 am ET.

The Nasdaq 100 climbed 0.89% at 10:06 am ET and the S&P 500 rose 0.89% at 10:07 am ET with Wynn Resorts as the best performer on both indexes as its shares soared 5.96% at 10:07 am ET.

The euro lost 0.16% against the dollar to sell for 1.11206 at 10:09 am ET and the pound slid 0.48% compared to the US currency to go for 1.31456 at the same time.

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Breaking the News / NP