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

Japan's trade agreement with the U.S. could serve as the benchmark for many other deals currently being negotiated with Washington, and the global economy could just about support the 15% level agreed overnight,

Trade pact would lower tariffs on car imports from Japan to 15% from 25%, spurring hope that other countries could get similar deals