S&P Surges Towards New Record High On Trade-Talks Headlines

Having surged last Friday (and everyday since) on the back of an apparent trade deal, phase one, being completed-ish, headlines that the US and China are near completion of some aspects of the phase one trade deal that was supposedly all but papered last week has sparked yet more gains for stocks…

Fox News’ Edward Laurence tweeted:

“I have learned the phone call between the heads of the 2 trade teams has concluded. US Trade Rep Lighthizer & Treasury Sec Mnuchin spoke to Vice Premier Liu He to finalize the Phase One deal with China. US Sources say the teams are close to finalizing some sections..”

So are we closer-er to a deal that we were last Friday?

S&P is getting very close its record closing high of 3025.86 (3027.98 intra)