Stocks closed modestly higher on Thursday after President Trump announced a new trade agreement with the United Kingdom. The S&P 500 gained 33 points, or 0.6%, to close at 5,664, while the Dow Jones Industrial Average rose 254 points, or 0.6%, to 41,368 points. The Nasdaq Composite added 1.1%.

The potential trade deal comes as the Trump administration says it's also negotiating with many other trade partners.

The blue-chip index rose 0.6% after President Trump and others spoke in the Oval Office to showcase what he billed as a “full and comprehensive” trade agreement with the U.K.