Wall Street gained ground in a broad-based rally on Thursday as market participants looked to the G20 summit this weekend for signs of progress in the long-running U.S.-China trade dispute, which has agitated markets for months.
All three major U.S. stock indexes were up, with the benchmark S&P 500 set to snap its four-day losing streak, inching within 1 percent of its all-time high, reached a week ago today.
News that the world’s two largest economies have agreed to a tentative truce in their ongoing trade war, according to the China Morning Post, initially fueled investor optimism.
But that optimism was tempered by a story in the Wall Street Journal that Chinese President Xi Jinping will present President Donald Trump with a set of conditions the United States must meet before Beijing will settle the trade dispute.
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