US stocks rally on Chinese tariff rollback, plus strong corporate and economic data

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US stocks rally to fresh record highs after China says it will halve tariffs on around $US75 billion worth of US imports.

US stocks have rallied to record highs after China said it would halve tariffs on about $US75 billion worth of US imports.The cut takes effect on February 14 when the US reduces tariffs on some Chinese products.

This included promises that China would buy more agricultural goods and energy imports from the US, part of an agreement to buy an extra $US200 billion over two years. "Based on current information, I don't expect there will be any issues in them fulfilling their commitments," he said on Fox Business Network.

 

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