NEW YORK (Reuters) – The Dow and S&P 500 notched record closing highs on Thursday as the latest signs of progress in U.S.-China trade relations relieved investors, but a report raising fresh worries about the outlook for a deal limited the day’s gains.
China said it had agreed with the United States to remove tariffs in phases, while state-owned Xinhua News Agency said Beijing was also considering removing restrictions on poultry imports.
But indexes pared gains in afternoon trading after a Reuters report, citing sources, said that the White House’s plan to roll back China tariffs faces internal opposition and that no final decision has been made yet.
An interim U.S.-China trade deal is expected to include a U.S. pledge to scrap tariffs scheduled for Dec. 15.
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