US Stocks Surge Amid Easing Tension with Iran, Imminent China Trade Talks


The U.S. stock market closed at record highs Thursday, indicating investor confidence as relations between the U.S. and Iran appear to cool down.

At closing bell, the Dow Jones industrial average gained 211.81 points to end at 28,956.90; the S&P 500 increased 0.81% to 9,203.43; and the Nasdaq rose 0.81% to 9,203.43. 

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On Wednesday, President Donald Trump said Iran “appears to be standing down” after firing more than a dozen missiles at Iraqi bases housing American troops in retaliation for a U.S. strike that killed a top Iranian general last week.

China’s Vice Premier Liu He, the country’s lead negotiator during trade talks, will sign a “phase one” trade deal during his visit to Washington next week, according to China’s commerce ministry. 

About a year and a half after the U.S.-China trade war began, the phase one agreement reportedly cuts tariffs and increases China’s investment in U.S. agriculture, although the deal has not been made public.

Joining “Chicago Tonight” to share their thoughts on current economic conditions: economics professor emeritus Ed Stuart of Northeastern Illinois University; and associate professor of economics Michael Miller from DePaul University.


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