Dow records a series of seven-day wins and is nearing his record



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Shares rose on Thursday, nearing record levels, as Wall Street digested a lot of trade information between the US and China as well as a major bond buying program from the European Central Bank.

The Dow Jones Industrial Average Index closed up 45.41, or 0.2% to 27 182.45, posting a series of consecutive wins. The S & P 500 gained 0.3% to 3,009.57 to record its third consecutive gain. Nasdaq Composite rose 0.3% to 8,194.47.

President Donald Trump agreed Wednesday to postpone for two weeks the further increase in tariffs on Chinese products "as a sign of goodwill". This decision has given rise to the hope of a looser trade friction between the world's two largest economies.

Chip makers such as ON Semiconductor and Advanced Micro Devices grew 0.9% and 1.5%, respectively. The tech sector was the best performer of the S & P 500, thanks to a 3% gain from PayPal. Microsoft also closed 1% higher.

US President Donald Trump meets Chinese President Xi Jinping at the G20 summit in Japan on June 29, 2019.

Kevin Lamarque | Reuters

The United States and China have imposed tariffs on billions of dollars of reciprocal merchandise since the beginning of 2018, hitting financial markets and harming consumer and business confidence. Trade officials on both sides are expected to hold talks in Washington in early October.

"It's a work in progress," said Terry Sandven, chief equity strategist at US Bank Wealth Management, about the trade situation. "Both parties are holding firm.The timing and magnitude of any new trade agreement remain unknown, there is no indication that either of the two parties is willing to accept the problems structural. "

Sandven added that the trade would have an impact on the market "in the near future", but the rated shares have already had a "record year".

The Dow ended Thursday's session at -0.6% below the all-time record of 16 July, while the S & P 500 closed at 0.8% below its July 26 record. Nasdaq, meanwhile, is 1.7% below its record.

The shares were subject to a brief period of volatility on Thursday after Bloomberg News announced earlier that advisers to President Donald Trump were considering such an agreement, pushing the main indices to their highest level of the session. The major indexes subsequently reduced these gains after a senior White House official told CNBC that the administration "was not considering" any deal with an interim agreement with CNBC. China.

Treasury Secretary Steven Mnuchin told CNBC's "Squawk Box" that Trump could sign a trade deal with China at any time, but wanted a "good" deal for US workers.

Elsewhere investors have equated the latest decision of the European Central Bank's decision makers. The ECB has reduced its deposit rate by 10 basis points and has launched a new bond purchase program. The bank will buy 20 billion euros of assets as long as necessary.

The euro fell before trading by 0.5% more. Gold futures advanced 0.3% to $ 1,507.40 an ounce.

"The question remains whether this will be enough to repair the damage caused by the geopolitical disturbances that have undermined the confidence of businesses and investors (at least in cyclical assets) in recent months," said Michael Shaoul, president from the board of directors of Marketfield Asset Management, a note. "Given the extremes at which allocations were pushed at the end of August, we believe we could have reached a turning point in which relative performance trends will change quite dramatically over the next few weeks."

-Sam Meredith from CNBC contributed to this report.

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