The US economy continued to soar under President Trump heading into the Thanksgiving holiday weekend with the stock market setting new records on news of a potential trade agreement between the United States and China.
“Stocks rose slightly on Wednesday, building on their record-setting run after the release of stronger-than-forecast economic data,” reports CNBC. “The Dow Jones Industrial Average advanced 17 points, or 0.1%. The S&P 500 also gained 0.1% while the Nasdaq Composite climbed 0.2%. The averages were on track to post their fourth straight gain.”
“The strong data comes ahead of the Federal Reserve releasing its Summary of Commentary on Current Economic Conditions, also known as the Beige Book, at 2 p.m. The commentary offers insight on the state of the world’s largest economy and a look into how the Fed views its monetary policy stance. The Fed has lowered rates three times this year and has indicated it will likely keep rates at current levels for the foreseeable future,” adds the website.
This is a developing story. Check back for updates.