New York  — Global stock markets rallied on Monday, lifting Wall Street’s three major indexes and a global gauge of equity performance to record highs after a preliminary US-China trade deal pointed to stronger global growth, helping to drive up oil prices.

A pan-European index also hit a record high and the landslide election victory last week by British Prime Minister Boris Johnson pushed the benchmark FTSE 100 to its biggest single-day gain in more than three years...

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