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The S&P 500 will not be at a record high when the United States reports on trade progress



S&P ( SPX ) climbed over its record that closed high on July 26 around noon on Friday but the index slipped and closed up 0.4% – some points under the July record.
Dow ( INDU ) and Nasdaq Composite ( COMP ) both still have a little longer to meet their records in July.

Dow closed 153 points, or 0.6%, while Nasdaq closed 0.7% on Friday.

All three indices made a profit this week, with market movements driven mainly by company earnings. For S&P, it was the third straight week of gains, while it was the fourth week of wins for Nasdaq.

However, on Friday, the office told the US Trade Representative that the US and China were ahead of completing their phase of a trade agreement. This boosted equities.

The world's two largest economies reached a preliminary trade agreement two weeks ago.

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