New York (AFP)

On Wall Street, the Dow Jones and the S & P 500 ended Thursday at unprecedented levels, supported by statements deemed reassuring China on the gradual lifting of tariffs imposed by Beijing and Washington.

Its flagship index, the Dow Jones Industrial Average, gained 0.66% to 27,674.80 points and the broad S & P 500 index rose 0.27% to 3,085.18 points.

The Nasdaq, with strong technological color, also progressed, rising by 0.28% to 8,434.52 points, just a stone's throw from its record.

China announced Thursday it has agreed with the United States for a staged lifting of their mutual punitive tariffs, as Beijing and Washington strive to finalize a partial deal on their trade dispute.

The statements reassured investors, worried the day before by press reports that the meeting between US President Donald Trump and his Chinese counterpart, Xi Jinping, to sign a partial trade agreement could be postponed to December.

Karl Haeling of LBBW however urged caution despite the wind of optimism that blew Thursday in the markets.

"We know President Trump's propensity and even Xi Jinping's willingness to turn around at the last moment." Trump changes his mind to a "yes" or "no." As long as this agreement is not signed, there is still Chances are that everything will fall apart, in fact, it only takes one tweet, "said the expert.

According to press reports, there are dissensions within the White House on the lifting of tariffs imposed in Beijing.

The appetite for risk on Wall Street has in any case translated Thursday by the sharp rise in the 10-year rate on US debt.

It stood at 1.916% around 21H30 GMT, while it was 1.828% the day before closing.

Several analysts, however, refused to rush on a prolonged increase in bond yields.

"A 'Phase 1' agreement would leave important tariffs in place, Brexit concerns will return in early 2020 and we estimate that US real GDP growth will slow to 1.6% in 2020 from 2.3% in 2019, which will lead the Fed to decide a further rate cut in early 2020, "said John Canavan of Oxford Economics.

"This combination is the recipe for lower long-term returns," he added.

© 2019 AFP