President Donald Trump touted a new record in the U.S. stock market on Thursday, Nov. 7, as indexes continued to hit new milestones after the United States and China agreed to remove existing trade tariffs in phases.

“Stock Market up big today. A New Record. Enjoy!” the president tweeted.

CNBC data shows the Dow Jones Industrial Average climbed 182.24 points, or 0.66%, to close at a fresh all-time high of 27,674.80.

The S&P 500 also closed record high, rising 8.4 points, or 0.27%, at 3,085.18.

The Nasdaq Composite missed a record close by less than two-tenths of a point. The index finished the day up 23.89 points, or 0.28%, at 8,434.52, after hitting an intraday record of 8,483.16.

The market rallied after officials from both China and the United States said they had agreed to roll back tariffs on each other as part of a first-phase trade deal, according to CNBC.

Speaking at a weekly briefing on Thursday, China’s Commerce Ministry spokesman Gao Feng said Beijing had agreed with Washington to lift existing trade tariffs between the two countries in phases.

“Over the past two weeks, the two negotiating teams had serious and constructive discussions and agreed to remove the additional duties imposed on each other’s products in different phases after they make progress in reaching a deal,” Gao Feng said.

A U.S. official also confirmed that both sides agreed to the tariffs rollback, according to Reuters.

Optimistic sentiment around a trade deal between the world’s two largest countries has helped stocks push the stock prices recently, with S&P 500 rising nearly 5% over the past month.

President Trump has repeatedly lauded the market over the past week. Last Friday, the president took to Twitter to encourage stock investors “Enjoy!” the record highs for S&P 500 and Nasdaq. On Monday, the president gave a tip “Spend money well!” and also cited “All-Time High for Stock Market” to mock bias media for reporting about an impeachment hoax against him. On Wednesday, he tweeted, “You are sooo lucky to have me as your President (just kidding!). Spend your money well!”

President Trump has been putting the economic success as a focal point of his reelection campaign.

Rasmussen Reports’ Daily Presidential Tracking Poll)

A daily poll from the Rasmussen Reports on Thursday finds that 50% of Likely U.S. Voters approve of President Trump’s job performance, the highest rate since the middle of October.

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