Wall Street's main indices hit records on reports of US-China trade deal

Thursday's gain in American stocks pushed the MSCI All-Country index to its first record since January 2018

US stocks rose to records as optimism grew that the Trump administration will clinch a deal with China on trade and avert fresh tariffs. The pound fell ahead of the first exit polls in the U.K. general election.

The S&P 500 rallied after a Bloomberg report that U.S. officials had reached a deal in principle that only needed Trump’s approval. The president held an afternoon meeting with trade advisers, and a deal could be announced as soon as today, according to people briefed on the plans. A potential deal would likely prevent fresh levies due to take hold Sunday.
 

A breakthrough