‘You better go out and buy stock now,’ Trump said. Markets listened

• Stock indexes closed higher on Thursday after the outlines of a U.S.-U.K. trade deal that lowers tariffs became clear, giving investors hope that more deals can be reached and a recession avoided.

Stock markets surged on Thursday after the White House shared the outlines of a trade deal with the United Kingdom. The first such deal after President Donald Trump pressed pause on reciprocal tariffs with the world a month ago, it gave Wall Street hope that the U.S. can continue...