boost crude demand.
The centerpiece of the deal is a pledge by China to purchase at least an additional $200 billion worth of US farm products and other goods and services over two years, over a baseline of $186 billion in purchases in 2017. "What's most important to investors is a potential de-escalation and signs that de-escalation will continue this year, which is the outlook period for a lot of investors," he said.
On Wall Street, the Dow Jones Industrial Average rose 90.55 points, or 0.31 percent, to 29,030.22. The S&P 500 gained 6.14 points, or 0.19 percent, to 3,289.29 and the Nasdaq Composite added 7.37 points, or 0.08 percent, to 9,258.70.Oil prices slipped on concerns the trade agreement may not provide much of a demand boost because the United States intends to keep tariffs on Chinese goods until a Phase 2 deal is reached.
The dollar pared losses but remained lower against the euro and the yen after the signing of a trade deal that may prove a mild negative for the greenback as it removes uncertainty.
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World stocks hit record ahead of US-China trade deal
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