TELETRADER News
11/7, 10:00 PM (Source: TeleTrader)
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Dow ends on record high on US-China trade hopes

Major stock market indexes on Wall Street hit new all-time highs on Thursday after sources from both the United States and China said they are looking to revoke existing tariffs in a series of phases. However, sentiment at the end of the day was slightly subdued after media reports suggested the plans could face internal opposition in the White House. After the bell, Disney, Dropbox and Booking are set to post their quarterly results.

The Dow Jones Industrial Average was 0.67% higher at the closing bell. The Nasdaq 100 gained 0.29% as Baidu surged 12.52% after its earnings report. Meanwhile, the S&P 500 rose 0.28%. The index was led higher by Ralph Lauren which jumped over 14% after the company revealed strong sales in China.

The euro was flat against the dollar, increasing 0.02% to 1.10488 at 4:04 pm ET.

Breaking the News / VP