The S&P 500 index notched its third consecutive record high Wednesday, with a U.S.-Japan tariff deal and signs of progress with other trade partners lifting the Dow Jones Industrial Average more than 500 points.

U.S. stocks set more records on Wednesday following a trade deal between the world’s No. 1 and No. 4 economies, one that would lower proposed tariffs on Japanese imports coming to the United States.

Stocks look set to rise on Wednesday after the U.S. brokered a trade deal with Japan, giving investors another reason to feel cheerful about tariffs ahead of the Aug. 1 deadline. Futures tracking the