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Stocks: Stocks jump on renewed hopes for US-China trade deal



New York – Stocks ended a difficult

President Donald Trump said he had a "very good call" with Chinese President Xi Jinping. Mr. Trump added, "It is very comprehensive, covering all subjects, areas and points of dispute."

The Official Xinhua News Agency cited a Chinese Foreign Ministry spokesman as saying that "China stands ready to work with the United States to move forward the China-US Tables which are underpinned by coordination, cooperation and stability."

The Dow added 265 points, or 1.1 percent, to close at 23,327, while the S & P 500 and Nasdaq both rose 0.8 percent.

"Last week we really had such a volatile week, and a lot of that had been done with thin trading volumes, some computerized trading and investors just exhausted from a Very difficult fourth quarter, "said Jeff Kravetz, regional investment strategist at US Bank Wealth Management.

For the year, the S & P 500 fell 6.2 percent ̵

1; its first loss (including dividends) since the financial crisis in 2008. The Dow lost 5.6 percent in 2018.

Critical deadline

Many analysts remain skeptical that the U.S. and China can set aside their differences on trade. American trade negotiators want to drop requirements that U.S. companies share technology and other proprietary data, as well as cut tariffs on American goods. Mr. Trump has thus pushed for China to lower its trade surplus with the U.S.

The U.S. Pat. Trade Representative's office has $ 200 billion in Chinese goods.

Goldman Sachs analysts said they were expecting a further increase US 2019.

Trade worries are not the only thing on investors' minds, with concerns growing that the American economy is gearing down. Macroeconomic Advisers, a closely watched forecaster on Wall Street, predicts growth of 1.5 percent in the first three months of 2019, down from 2.7 percent in the fourth quarter.

Factors weighing on economic activity include government shutdown so economists say fiscal stimulus from a 2017 tax cut is starting to fade.


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