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Trade Thaw Sends Stocks Surging and Street Says Rally Isn’t Over

  • Accord marks truce in trade war, paves way for bigger deal
  • Pound posts its biggest two-day gain in a decade; oil climbs
Bloomberg business news
David Herro, chief investment officer for international equities at Harris Associates, discusses oil market shocks.Source: Bloomberg
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Signs of progress in U.S.-China trade talks sent stocks to the biggest gain in a week and had Wall Street handicappers making odds on a bigger rally to come.

The S&P 500 Index climbed to within 1.8% of a record after President Donald Trump said the two sides agreed to the outlines of a deal that could be signed as early as next month. The equity benchmark rose 1.1% Friday, closing off its session highs since several of the thorniest trade problems remain unresolved. Equities also got a boost from signs of progress in Brexit negotiations.