* U.S. stocks end higher
* Intel a boost to S&P 500
* Sterling still lower
(Updates with closing U.S. markets levels)
By Caroline Valetkevitch
NEW YORK, Oct 25 (Reuters) - Global stock indexes, the
dollar and bond yields rose on Friday, with the S&P 500 nearing
a record high as the United States said it was close to
finalizing parts of a trade deal with China.
The U.S. Trade Representative's office also said that
deputy-level talks would proceed "continuously." Washington and
Beijing are working to agree on the text for a "Phase 1" trade
agreement announced by U.S. President Donald Trump on Oct. 11.
Trump has said he hopes to sign the deal with China's
President Xi Jinping next month at a summit in Chile.
During the session, the S&P 500 surpassed its closing record
of 3,025.86 from July 26 but ended at 3,022.55. The S&P 500's
total return index .SPXT posted an all-time high.
"The little bit of positive trade news has pushed the market
up, but it wasn't all that negative even before this news came
up," said Andrew Slimmon, senior portfolio manager at Morgan
Stanley Investment Management in New York. "There's not a lot of
selling left out there."
Strong results from companies including Intel INTC.O also
helped the S&P 500 even as Amazon.com Inc AMZN.O shares sagged
following the company's forecast for revenue and profit for the
holiday quarter below expectations. The majority of U.S. companies have beaten Wall Street
expectations so far this earnings season despite concern about
the trade war.
The Dow Jones Industrial Average .DJI rose 152.53 points,
or 0.57%, to 26,958.06, the S&P 500 .SPX gained 12.26 points,
or 0.41%, to 3,022.55 and the Nasdaq Composite .IXIC added
57.32 points, or 0.7%, to 8,243.12.
The pan-European STOXX 600 index .STOXX rose 0.16% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.27%.
The world's largest beer maker, Anheuser-Busch InBev ,
ABI.BR tumbled on disappointing quarterly profit and a glum
outlook.
The dollar index .DXY rose 0.2%.
Sterling was lower on the day. The European Union agreed to
London's request for a Brexit deadline extension but set no new
departure date. That gave Britain's divided parliament time to
decide on Prime Minister Boris Johnson's call for a snap
election. Sterling GBP= was last trading at $1.2829, down 0.16% on
the day.
In the U.S. bond market, yields rose following the trade
news. Benchmark 10-year notes US10YT=RR last fell 10/32 in price
to yield 1.7995%, from 1.766% late on Thursday.
Oil prices climbed, supported by optimism on the trade front
and by falling U.S. crude stocks. U.S. crude CLcv1 rose 43 cents to settle at $56.66 a
barrel, while Brent LCOcv1 gained 35 cents to settle at
$62.02.
Gold and 2 year yields https://tmsnrt.rs/2PitwT5
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
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