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  • The S&P 500 added about 17 points, or 0.5% to end the session at roughly 3,240.
  • Nasdaq added 70 points, or 0.8% to about 9,023.
  • The DJIA  rose 107 points, or 0.4% to close near 28,622.

US benchmarks moved higher in a Santa Claus rally and thing trading conditions,  setting new intraday and closing highs. The Dow Jones Industrial Average, DJIA, +0.37% rose 107 points, or 0.4% to close near 28,622. The S&P 500 added about 17 points, or 0.5% to end the session at roughly 3,240 while the Nasdaq added 70 points, or 0.8% to about 9,023.

The performance could be attributed to the recent progress towards a so-called phase-one US/Sino trade deal. Also, given the holiday season and shopping sprees, we have seen Mastercard Inc rally along with Shares of Amazon.com Inc rising 4.2% after it claimed the best holiday sales season ever.

US/Sino trade deal in the making

The Chinese Foreign Ministry spokesman, Geng Shuang, said on Wednesday that officials from Beijing and Washington were in “close communication about detailed arrangements for the deal’s signing and other follow-up work.”

On Xmas Eve, President Trump said that  the “deal is done, it’s just being translated right now,” adding that  China’s leader, Xi Jinping, would hold a signing ceremony for the partial trade resolution in January.

“We’ll be having a quicker signing because we want to get it done.”

DJIA levels