Japanese shares soared on Wednesday after President Donald Trump said he had struck a trade deal with Tokyo. The flagship Nikkei 225 index closed 3.5% higher, with car stocks including Toyota, Honda,

Leaders of the European Union and Japan have launched an alliance aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China.

Gold prices fell on Wednesday after a U.S.-Japan trade deal eased market uncertainty, while strong industrial demand and a supply shortage drove silver to its highest level since September 2011.

Stock futures are higher Wednesday as investors welcome news that the U.S. reached a trade agreement with Japan and prepare for the release of quarterly results from major technology companies.