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Trump administration weighing interim China trade deal

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Stocks jumped to their highs of the day on Thursday after a report said the U.S. is mulling over an interim trade deal with China.

The Dow Jones Industrial Average traded 120 points higher, or 0.5% after briefly jumping about 150 points. The S&P 500 was up 0.5% while the Nasdaq Composite traded 0.8% higher.

Bloomberg News reported that President Donald Trump’s advisors were considering an interim deal with China that would delay tariffs. The report, which cites five sources familiar with the matter, added the preliminary deal would include some commitments from China on intellectual property theft. However, the exact details of the agreement have yet to be worked out.

Reported by CNBC

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