(CNBC) – Stocks rose on Wednesday after President Donald Trump said a U.S.-China trade deal could arrive sooner than expected. Investors also pored through a rough transcript of Trump's call with the Ukrainian president from earlier this year.
The Dow Jones Industrial Average closed 162.94 points higher, or 0.6% to 26,970.71. The S&P 500 gained 0.6% to end at 2,984.87 while the Nasdaq Composite climbed 1.1% to 8,077.38.
Tech was the best-performing sector in the S&P 500, rallying more than 1% along with consumer services. Facebook, Amazon, Netflix and Google-parent Alphabet all closed higher.
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Trump told reporters at the United Nations in New York that a U.S.-China deal could come sooner "than you think." Both countries have been engaged in trade negotiations since last year. The back and forth between China and the U.S. has sent ripples through global financial markets as investors assess the trade war's impact on the global economy.
He later said Japan and the U.S. had reached an initial trade agreement.