The Dow ended above 29,000 for the first time on Wednesday and the S&P 500 also closed at a record high after the United States and China signed a Phase 1 trade agreement and pledged to resolve a tariff dispute that has roiled Wall Street for over a year.
China and the United States have agreed to terms of a Phase 1 trade deal on Jan 15 but Beijing has not reduced or waived tariffs on any commodities or energy further.
A funny thing happened on the way to the U.S.-China trade deal signing: President Donald Trump may have tipped his next pick for head of the Federal Reserve -- if he gets the chance.
U.S. stocks climbed but were off earlier intraday records on Wednesday after the United States and China signed a Phase 1 trade agreement and pledged to resolve a tariff dispute that has roiled financial markets for over a year.
South African telecoms company Telkom SA told unions on Wednesday it could cut up to 3,000 of more than 15,000 staff as it struggles with declining performance in fixed voice and fixed data services.
Airbus sees enough demand for its wide-bodied A330neo passenger jet to keep production stable, Chief Commercial Officer Christian Scherer told Reuters on Wednesday.
China's pledge to buy U.S. farm goods based on "market conditions" during the Phase 1 trade deal signing ceremony on Wednesday added to doubts among farmers and commodity traders over the lingering tariffs on U.S. exports.
Oil prices were down slightly on Wednesday, pressured early by data showing big increases in U.S. refined products but recovered some of the losses later by the signing of a Phase 1 trade deal between Washington and Beijing.
The United States and China signed an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. products, defusing an 18-month row between the world's two largest economies but leaving a number of sore spots unresolved.
Oil prices were slightly down in seesaw trade on Wednesday, pressured early by data showing big increases in U.S. refined products but lifted later by the signing of a Phase 1 trade deal between Washington and Beijing.
Japanese online retailer Rakuten and Walmart's Seiyu said they plan to open a new logistics site in Yokohama later this year to deal with growing sales from their joint online supermarket business.
The U.S. economy expanded at a modest pace through the final six weeks of 2019 but uncertainty over U.S. trade policy continued to hurt firms, a survey conducted by the Federal Reserve said on Wednesday.
The S&P 500 rose to trade near all-time high on Wednesday after the United States and China signed a Phase 1 trade agreement and pledged to resolve their longstanding tariff dispute that has roiled financial markets in the recent years.
U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this year.
A software update for the GTF engine on Airbus' smallest jet, the A220, is expected in the spring, pending regulatory approval, a top executive at United Technologies Corp's Pratt & Whitney aircraft engine division said on Wednesday.