U.S. stocks climbed at the open on Thursday, pushing the S&P 500 and Dow to intraday records, after news reports said that Beijing and Washington would cancel additional tariffs in stages, citing the Chinese Commerce Ministry.

The S&P 500 rose 0.4% to 3,089.71. The Dow Jones Industrial Average advanced 148 points, or 0.5%, to around 27,641. The Nasdaq Composite was up more than 0.5% to 8,454.62.

This comes after an earlier report suggested that the meeting between President Donald Trump and President Xi Jinping to sign off on the phase 1 deal could be delayed to December.

In company news, shares of PG&E slumped after it recorded a net loss of $1.6 billion in the third-quarter due to $2.5 billion of wildfire-related impairment charges.

Source : Market Watch