US stocks rise on Trump’s tweets & rumors of China trade deal reached ‘in principle’

The US markets have enjoyed a rise after US President Donald Trump teased an impending trade deal with China and media reported the US administration reached an agreement in principle with Beijing, citing sources.

Stocks jumped on Thursday close to the end of trading after Bloomberg reported that US negotiators had agreed the terms of a phase-one trade deal with China, now due to be approved by Trump. Earlier in the day, the President himself teased an impending “VERY BIG” deal with China after a bitter trade war raged for months between the two countries.

The Dow was up 220 points to 28,132.05, showing growth of 0.79 percent; the Nasdaq Composite grew 0.73 present, and the S&P 500 rose 0.86 percent. All three indexes hit record intraday highs during the trading session.

The trade deal announcement could be made as soon as today, according to media reports. The US and China agreed back in October to conclude a preliminary trade agreement, but the negotiators have thus far failed to produce any deal.

The rumored phase-one deal comes within days of the new tariff deadline. If the deal is not actually reached by Saturday, the US is expected to impose 15 percent duties on $160 billion worth of Chinese products, including such vital consumer goods as clothing, smartphones and other electronics.

In October, leaks about the deal with China shook the market, but they later turned out to be false.

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