“I think that this is optimism on at least some partial resolution of the trade negotiations as investors are expecting progress (on that front),” said Kate Warne, investment strategist at Edward Jones. “If we reach new highs that’s great but I think it would be a reflection of the positive underlying fundamentals of very positive earnings growth and modest interest rates.”

The other major indexes were in the green with the Nasdaq Composite gaining over 60 points and the Dow Jones Industrial Average rose over 100 points as of 2:30 p.m. ET.

Related: Factors that Could Stymie Bull Market

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