All three major U.S. stock averages hit intraday record highs today after positive reports from China regarding U.S. trade. A spokesperson for China's Ministry of Commerce Thursday stated that the "leaders of China and the United States have carefully resolved their core concerns in the past two weeks and have carried out serious constructive discussion, agreeing to cancel the tariff increase in stages with progress of the agreement.

Here's how the U.S. stock market closed Thursday:

S&P 500 Index (SPY): +0.27% or +8.42 points

Dow Jones Industrial Average (DIA): +0.66% or +182.44 points

Nasdaq Composite Index (QQQ): +0.28% or +23.89 points.

In U.S. Economic news, the U.S. Labor Department estimated that 211,000 Americans field new unemployment claims in the week ending November 2, which is a low for the month and below the 215,000 predicted by economists. It seems that the labor market is going strong despite domestic and international economic slowdowns.

In Stock Sector news, sectors continue mixed gains and losses as investors grapple with various Q3 earnings. Energy +1.58% saw a major increase today after the sectors slumped throughout the week. Other gainers include Information Technology +0.67%, Communication Services +0.67%, Financials +0.67%, Materials +0.65%, Industrials +0.23%, and Health Care +0.14%. Those that paired losses Thursday include Utilities -1.35%, Real Estate -1.08%, Consumer Discretionary -0.56%, Consumer Staples -0.38%.

In Commodity and Currency news, oil prices experienced mixed gains during trading today. West Texas Intermediate saw a price drop of almost -0.05%, bringing the price per barrel to slightly over $57. On the other hand, Brent Crude increased just under 1%, with barrel prices increasing to around $62.30. Gold has been dropping amid positive trade news, with Thursday being no different. The metal declined just over -0.10%, making the cost per ounce around $1,467.25. The dollar continues to increase, with the DXY index gaining almost 0.20%.

As the U.S.-China trade war seems to be cooling down, investors and consumers may find some newfound confidence to close out 2019. Only time will tell if this news will be the end of the war, or just be another report to add to the sea of mixed information that has washed over markets for almost two years.