NEW YORK, Dec 24 — Wall Street's main indexes posted record closing highs yesterday after President Donald Trump said an initial US-China trade pact would be signed soon, while Boeing gave the Dow a big boost after the planemaker ousted its chief executive officer. Boeing Co shares, which have a...
Traders work on the floor of the New York Stock Exchange on November 20, 2019 in New York City. — AFP pic
Trump over the weekend said the United States and China would"very shortly" sign their so-called Phase 1 trade pact, which was announced earlier this month and has helped propel the US stock market to records. Additionally, China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year.
The benchmark S&P 500 has climbed more than 28% so far in 2019, helped by improving investor sentiment over trade relations, interest rate cuts by the Federal Reserve and optimism the economy will avoid a severe downturn at least in the near term.
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