(CNBC) -- Stocks closed sharply higher on Wednesday after President Donald Trump reportedly obtained concessions from the European Union to avoid a trade war.
The Dow Jones Industrial Average rose 172.16 points to close at 25,414.10 after falling more than 100 points earlier in the session. The Nasdaq Composite jumped 1.2 percent to an all-time high of 7,932.24 as Google-parent Alphabet, Facebook and Amazon all jumped. The S&P 500 gained 0.9 percent to 2,846.07, closing less than 1 percent from its record high, as tech rose 1.5 percent.
Dow Jones reported, citing an EU official, that the EU has agreed to import more U.S. soybeans. Dow Jones also said the EU agreed to lowering tariffs on industrial goods.
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