Those gains built on the market’s recent run to all-time highs that was sparked by optimism around U.S.-China trade talks. Over the past month, the Dow and S&P 500 are up 4.3% and 3.9%, respectively. The Nasdaq Composite is up nearly 5% in that time.
On Tuesday, President Donald Trump said negotiators were close to reaching an initial trade deal. Trump’s upbeat comments on trade followed a phone call between officials from the U.S. and China. The negotiators agreed to keep working on remaining issues.