Stocks ended a wobbly day with modest gains, enough to send the Dow Jones Industrial Average to its first close above 29,000 points.
The benchmark S&P 500 index also set a record high Wednesday, led by gains in health care stocks. Traders were hopeful that the signing of a preliminary trade deal between the U.S. and China would help bring about better relations between the two economic superpowers.
The S&P 500 index rose 6.14 points, or 0.2%, to 3,289.29, a record.
The Dow gained 90.55 points, or 0.3%, to 29,030.22, a record.
The Nasdaq composite added 7.37 points, or 0.1%, to 9,258.70.
The Russell 2000 index of smaller company stocks picked up 6.66 points, or 0.4%, to 1,682.40.
For the week:
The S&P 500 is up 23.94 points, or 0.7%.
The Dow is up 206.45 points, or 0.7%.
The Nasdaq is up 79.84 points, or 0.9%.
The Russell 2000 is up 24.75 points, or 1.5%.
For the year:
The S&P 500 is up 58.51 points, or 1.8%.
The Dow is up 491.78 points, or 1.7%.
The Nasdaq is up 286.09 points, or 3.2%.
The Russell 2000 is up 13.93 points, or 0.8%.
The Associated Press