US stocks jump to fresh all-time highs

The major US stock indices opened higher today after the announcement of a trade deal in principle between the world's two largest economies.

Multiple news agencies reported yesterday, US President Donald Trump signed the phase one trade deal with China after negotiators from both sides have agreed on the terms draft of the deal.

Markets are anticipating the details about the deal, amid news about a Chinese pledge to buy a certain amount of US farm goods.

Under the new agreement, the US will cancel its tariffs hike decision against China, which was due December 15.

US data revealed today that retail sales in rose by 0.2% in November, lower than forecasts of 0.5%.

As for trading, Dow Jones rose by 0.2% or 63 points to 28,195 as of 15:15 GMT, Nasdaq rose by 0.3% or 25 points to 8,742, and S&P 500 added 0.4% or 13 points to 3,182.