US Stocks Hit Records After Reports of ‘In Principle’ US–China Trade Deal

Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., Dec. 21, 2016. Reuters/Andrew Kelly/File Photo

U.S. stock indexes hit record highs on Dec. 12 after reports that the United States had reached an “in principle” deal with China, as the two countries seek to resolve a 17-month trade war.

Stocks soared in the afternoon after Bloomberg first reported on the in-principle deal, with the S&P 500 and Nasdaq closing at record highs.