U.S. equities climbed toward a new high, and European stocks reached a record, amid hopes that a partial trade deal between America and China will ease a key risk for investors heading into year-end. Treasuries fell.
With tech and health-care leading the charge, the S&P 500 Index gained in the wake of the agreement announced Dec. 13 that will see Washington reduce tariffs and Beijing increase purchases of American farm goods, although many details are still to be ironed out. In another positive sign, the Federal Reserve Bank of New York’s survey measure of general business conditions in the next six months jumped to a five-month high. The dollar retreated