S&P 500 Closes Near Record on Trade Optimism: Markets Wrap
- U.S. cites progress in China negotiations after phone call
- President Trump says ‘we’re doing very well with China’
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The S&P 500 Index briefly surpassed its closing record amid positive signs on trade talks and as investors assessed corporate earnings.
Equities extended their weekly advance as the U.S. said it’s close to finalizing sections of the first phase of a trade deal with China. Technology shares led gains after Intel Corp.’s upbeat outlook and as Apple Inc. hit an all-time high. Amazon.com Inc. pared losses as its long-term prospects offset a profit decline. The risk-on sentiment helped push Treasuries down.