U.S. stocks are rising toward another record following a trade deal between the world’s No. 1 and No. 4 economies.

Wall Street climbed Wednesday after President Donald Trump reached a trade deal with Japan and hopes rose for more agreements by August 1.

Today, as European stocks benefit more from the optimism that the US-Japan deal will create for the trade outlook, the FTSE 100 is set to miss out on the more exuberant moves higher. Euro Stoxx 50 futures are up 1.2%.