The Dow Jones Industrial Average rallied more than 100 points to a record high on Friday morning amid reports that the US and China are nearing a trade deal.
The blue-chip index jumped to an all-time high of 27,890.00 shortly after markets opened. The spike came after White House economic adviser Larry Kudlow said the US and China were “getting close” on a trade pact.
“It’s not done yet, but there has been very good progress and the talks have been very constructive,” Kudlow said Thursday, according to Reuters.
Recent numbers showed the Dow up 107.03 points to 27,888.99 as of about 9:46 a.m.
The S&P 500 and Nasdaq indexes also rose Friday. The S&P was up 10.71 points to 3,107.34, while the Nasdaq jumped 36.97 points to 8,515.99.