Economics
U.S. Stocks Rise on Fresh Optimism Over China Deal: Markets Wrap
- Treasuries tumble the most in five weeks, 10-year above 1.9%
- Trump said to have signed off on deal to avert Dec. 15 tariffs
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U.S. stocks rose to records on optimism that the Trump administration will clinch a deal with China on trade and avert fresh tariffs. The pound fell ahead of the first exit polls in the U.K. general election.
The S&P 500 rallied following a Bloomberg report that American officials had reached a deal in principle that only needed Trump’s approval. Shortly after U.S. markets closed, news broke that the president had signed off on the agreement to avert tariffs set for Dec. 15.