Following news that the U.S. and China reached a partial trade agreement on Friday, the stock market sharply rebounded, putting major indexes back within reach of record highs.
Both major indexes returned to near-record highs on the back of the good news: The S&P 500 was up 1.1% for the day—putting it just 1.9% off its record of 3,027.98, while the Dow Jones Industrial Average rose by 1.2%—about 2.1% off its record of 27,398.68.Here’s what we know about the partial trade deal, which helped the market snap a three-week losing streak: that the U.S.
to guidelines for more transparaceny in how it manages its currency, with some additional provisions on intellectual property, like technology transfer. In exchange, the U.S.
. Issues relating to the U.S. blacklisting of tech giant Huawei will not be part of Friday’s deal, the administration confirmed.
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