-- Thursday, December 12, 2019, 16:23 --
U.S. stocks ended sharply higher on Thursday, with All three major benchmarks touching record highs, after reports that the U.S. and China had agreed to terms for a phase-one trade deal. The Dow Jones Industrial Average rose 220.75 points, or 0.79%, to 28,132.05. The S&P 500 added 26.94 points, or 0.86%, to 3,168.57. The Nasdaq Composite gained 63.27 points, or 0.73%, to 8,717.32.
Oil futures settled higher on Thursday, following a tweet from President Donald Trump that hinted the U.S. was close to a trade deal with China. West Texas Intermediate crude for January delivery picked up 42 cents, or 0.7%, to settle at $59.18 a barrel. February Brent crude gained 48 cents, or 0.8%, to settle at $64.20 a barrel.
The White House has reached a “deal in principle” with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks.
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