The Dow climbed 90.55 points, or 0.31%, to end the day at 29,030.22. The S&P 500 advanced 0.19% to 3,289.29. The Nasdaq Composite gained 0.08% to 9,258.70. Wall Street cheered stocks to record highs as China and the U.S. signed the much-anticipated phase one trade deal.

President Donald Trump and Chinese Vice Premier Liu He signed a partial trade deal in Washington on Wednesday, which would boost Chinese purchases of U.S. products. The agreement also includes provisions to curb forced technology transfers along with intellectual property theft. More importantly, however, the deal quells for the moment fears that the U.S.-China trade situation will keep escalating. Now, investors can focus more on corporate earnings and the broader economy.

Morgan Stanley and Charles Schwab are among the companies set to report earnings on Thursday. On the data front, weekly jobless claims and retail sales will be released Thursday morning. 

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Plan A : Long if market supported firm above 3298.25. Targets are 3313.25, 3320.50 and 3331.25.

Plan B : Short if market failed to support above 3298.25. Targets are 3283.50, 3270.25 and 3262.50.

E-Mini Nasdaq

Stocks rose on Wednesday, but gave up most of their gains heading into the close even after the U.S. and China signed a highly anticipated phase one trade agreement.

Most of the details were already known and investors anticipated some speed bumps on the way to phase two’s signing.

The U.S.-China trade agreement includes provisions to curb intellectual property theft along with forced technology transfers. It also increases Chinese purchases of U.S. products. Investors had been eagerly awaiting the signing of the so-called phase one trade agreement as the conflict between the world’s largest economies has dragged on for nearly two years.

Plan A : Long if market retraced but supported firm above 9079.50. Targets are 9108.50, 9129.25 and 9145.25.

Plan B : Short if market failed to support above 9079.50. Targets are 9048.50, 9028.25 and 9009.75.

HSI

Stocks in Hong Kong edged down on Wednesday after the United States warned that tariffs on Chinese goods will remain in place, hours before the two sides prepared to seal a Phase 1 trade deal.

At the close of trade, the Hang Seng index was down 0.4% at 28,773.59.

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WTI Crude

Oil prices fell on Wednesday after a U.S. report showed big increases in gasoline and distillates inventories and as crude production rose to a new record.

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.