The US stocks inched higher after falling in the previous session when Fed Chair Powell tempered the aggressive rate cut expectations. The index inched 1% after Treasury Secretary Steven Mnuchin said he is almost certain a trade deal between China and the US will be reached soon after forthcoming meeting in Osaka. Bloomberg News also reported that Washington will pullback from imposing tariffs on remaining $300 billion worth of Chinese goods as the two sides resume trade talks. Trump told Fox Business he is “very happy with where we are now. We’re taking in a fortune, and frankly not a very good thing for China, but it is a good thing for us." The index could advance to May highs close to 8200 levels.