The Dow and the S&P 500 both set new records.

Stock markets rose on Thursday, boosted once more by hopes of a China-US trade deal, with some looking to December for an accord between the two economic superpowers.

The pound slipped meanwhile on talk that a Bank of England rate cut could be in the pipeline after the central bank downgraded its growth outlook.

Bank chiefs meeting Thursday nonetheless left its main rate unchanged for now.

London equities closed only a touch higher, but equity markets elsewhere rose more solidly, along with oil prices, after China said the two sides have agreed a plan to remove tariffs imposed on goods in stages if a preliminary “phase one” agreement announced last month is finalized.

However, the White House did not publicly comment on the claim and gains moderated following a Reuters report that described opposition to rolling back tariffs within the White House.

The pullback revealed continued doubt about a US-China trade agreement despite more conciliatory signs from both sides, said Karl Haeling of LBBW.

“Until this thing is nailed down, there is still a lingering concern that it could fall apart,” Haeling said. “You’re one tweet away, so to speak.”

Still, both the Dow and S&P 500 mustered fresh records.