Stocks rallied to record highs on Thursday after China said the world’s two largest economies had agreed to remove existing trade tariffs, lifting expectations around a possible resolution to the ongoing U.S.-China trade war.
Market participants had expected the two economic giants to sign a deal later this month, after both Washington and Beijing spoke of progress in talks late last week.
In corporate news, Booking Holdings, Disney and Activision Holdings are the companies set to report their latest quarterly figures after market close.
Qualcomm shares jumped more than 7% after reporting Wednesday quarterly results that topped analyst expectations. The company’s results were driven by strength in Qualcomm’s licensing business.
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