Wall Street indexes skyrocket as Trump strikes trade deal with China: report

The main indexes on Wall Street hit record highs on Thursday after the United States reached a “deal in principle” with China to resolve a trade war that has rattled markets for nearly for almost 18 months.

The Dow Jones Industrial Average rose 220.75 points, the S&P 500 26.94 points and Nasdaq Composite 63.27 points, Reuters reports.

According to the wire service, each of the indexes hit intraday records and the S&P 500 and Nasdaq posted record highs at the closing bell.

Earlier this week, both the Federal Reserve and Europe’s central bank kept interests steady.

The S&P’s career day pushed its growth for the year up to 26 percent, much of which has come due to interest rate cuts by the Fed.

On the day, over and 8 billion shares changed hands on U.S. exchanges, breaking the past 20-day average of 6.7 billion, Reuters says.