U.S. stocks closed at records on Thursday on a combination of positive U.S.-China trade developments and waning concerns on the coronavirus outbreak on the domestic economy.
The S&P 500 rose 0.4% to end around 3,346. The Dow Jones Industrial Average picked up 89 points, or 0.3%, to end around 29,380, surpassing its previous closing record of 29,348.10 set on Jan. 17. The Nasdaq Composite was up 0.7% to finish near 9,572.
All three major equity indexes closed at all-time highs. China said that it would cut tariffs in half on some $75 billion of U.S. imports from next week, as part of the phase-one trade deal signed in January, according to China's Ministry of Finance.
In company news, shares of Twitter Inc. jumped 15% on Thursday after the social-media company announced it reached a billion dollars of revenue for the first time in a quarter.
Source : Market Watch