Money Stocks hit new highs on hopes of US-China trade truce and prospect of Fed rate cuts June 20, 2019June 20, 2019 Paul Davidson, USA TODAY Comments Off on Stocks hit new highs on hopes of US-China trade truce and prospect of Fed rate cuts The S&P 500 index set a new record Thursday on a strong signal that the Fed could cut interest rates and on hopes for a trade war truce.