Stocks Rose in Early Trading, Touching New Records

U.S. stocks rose in early trading on Thursday, with all three major benchmarks touching new records, after reports that Beijing and Washington will cancel planned import tariffs in stages. The Dow Jones Industrial Average lately rose 193.91 points, or 0.71%, to 27,686.47. The S&P 500 gained 16.15 points, or 0.52%, to 3,092.93. The Nasdaq Composite added 53.76 points, or 0.64%, to 8,464.39.

Oil futures climbed on Thursday after China and the U.S. agreed to lift existing tariffs if a partial trade deal is struck soon, signaling that trade talks are progressing and providing an upbeat backdrop for crude demand. West Texas Intermediate crude for December delivery rose 67 cents, or 1.2%, to reach $57.02 a barrel. January Brent crude picked up 68 cents, or 1.1%, to hit $62.42 a barrel.