Wall Street sets new records

The biggest driver to new highs was about trade, positive comments coming out of Washington D.C.

New York, United States (AFP) — Wall Street’s faith in an imminent breakthrough in US-China trade talks sent stocks sailing to fresh all-time highs on Friday.

Stocks elsewhere mostly posted more modest gains, with London creeping forward despite a pledge from Britain’s opposition Labor Party to nationalize parts of telecoms giant BT and offer free broadband internet.

Though truces have broken and hopes have been dashed more than once before, positive signals from the White House helped all three major Wall Street indices set new records as the benchmark Dow Jones Industrial Average crossed the 28,000-mark for the first time.

“The biggest driver to new highs was about trade, positive comments coming out of DC,” particularly remarks by top White House economic advisor Larry Kudlow on the possible signing of a US-China trade deal, Bill Lynch of Hindsale Associates told AFP.