https://apnews.com/8f771a5200cecbf1ba8d9783cb862fc3

Banks and technology companies powered stocks higher on Wall Street in afternoon trading Thursday after President Donald Trump said that the U.S. is getting close to a “big deal” in its trade war with China.

Traders were also encouraged by a Wall Street Journal report saying Washington has offered to slash existing tariffs and cancel new ones in exchange for more agricultural purchases and intellectual property protection. The rally had the S&P 500 on track for a record high and its second straight gain.