The S&P 500 Index has briefly reclaimed its old record exceeding 3025.86 which it previously reached in July.
The index was up by 0.6 %, while the Dow Jones Industrial Average and the Nasdaq both gained 0.7%.
The development comes as the United States and China appeared to be heading towards finalising certain parts of a trade agreement after a phone call between negotiators from both countries.
The US and China, the world’s major economic powerhouses, have been engulfed in an on-off trade dispute that has cast a shadow over financial markets and global growth. The talks between the two nations ended last week with Trump saying both sides reached a “very substantial phase one deal."
The two countries previously came close to concluding a trade deal in May.