S&P 500 rises to another record

The S&P 500 climbed on Tuesday, hitting another record high after China and the U.S. resumed trade talks, CNBC reports.

The broader market index climbed by 0.2 percent. The Dow Jones Industrial Average, meanwhile, advanced 80 points, or 0.3 percent. The Nasdaq Composite slid by 0.2 percent, however. 

Tthe Office of the U.S. Trade Representative said that both sided “progress and are committed to taking the steps necessary to ensure the success of the” phase one trade deal. The two countries also “addressed steps that China has taken to effectuate structural changes called for by the Agreement that will ensure greater protection for intellectual property rights,” a statement said.

The statement comes as tensions between both countries has increased, with the U.S. criticizing China’s handling of the coronavirus outbreak within its borders. 

Tuesday’s action came after the S&P 500 closed above 3,400 for the first time.