US stocks head for another record and Japan’s market rallies after trade deal

NEW YORK (AP) — U.S. stocks are rising toward another record following a trade deal between the world’s No. 1 and No. 4 economies, one that would lower proposed tariffs on Japanese imports to the United States. The S&P 500 was 0.3% higher in early trading Wednesday, coming off its latest all-time high. The Dow Jones Industrial Average was up 219 points, and the Nasdaq composite was up 0.2%. The Nikkei 225 rallied 3.5% in Tokyo after President Donald Trump announced a trade framework that would place a 15% tax on imports from Japan. That’s lower than the 25% rate Trump had earlier threatened.