US 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. The trade agreement clears the way for investors to focus on upcoming quarterly earnings reports, including the outlooks companies provide in light of the deal. Trump said he would remove all U.S. tariffs on Chinese imports as soon as the two countries complete the Phase 2 trade agreement, on which negotiations will start soon. At 2:27 pm ET, the Dow Jones Industrial Average was up 0.54% at 29,095.54 points, while the S&P 500 gained 0.33% to 3,293.84. The S&P 500 posted 72 new 52-week highs and no new lows; the Nasdaq Composite recorded 143 new highs and 15 new lows.

Source: Mint January 15, 2020 20:04 UTC