USA and China trade deal probable after positive talks

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Trump's trade war has heavily hammered the us auto, technology, and agriculture industries, the latter being the worst hit of the lot. The surge in demand pushed Brazilian soy premiums to a record over USA soy futures in Chicago, in an example of the trade war reducing sales for US exporters and raising costs for Chinese importers.

The S&P 500 posted no new 52-week highs and no new lows; the Nasdaq Composite recorded eight new highs and 98 new lows. The Russell 2000 index of smaller-company stocks climbed 5 points, or 0.4 per cent, 1,343. The future contract for the Dow Jones Industrial Average gained 0.8 per cent to 23,223, and that for the S&P 500 jumped 0.7 per cent to 2,504.

China is already considering a new law on the practice of forced technology transfer that has drawn U.S. ire, and stepped up internal scrutiny of Belt and Road as poorer countries adopt a more cautious approach to China's plans for what it regards as its backyard.

The U.S. tech industry is also being hard hit by Trump's tariffs.

In October the market's gyrations grew more volatile.

IG market analyst, Kyle Rodda said the market is constantly impacted by what the US Federal Reserve will do.

On Monday, Brent crude settled 59 cents higher, or 1.11 percent, at $53.80 a barrel.

As of December 28, futures in the last month of the year were averaging $8.95-1/2 a bushel.

Healthcare .SPXHC and tariff-sensitive technology .SPLRCT stocks, led by Boeing Co and Caterpillar Inc, provided the biggest boost to the S&P 500 on Monday.

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To compensate suffering farmers, the USA government has allocated about $11 billion to direct payments and buying agricultural goods for government food programs, after consulting economists, including Tyner.

Health care and utilities ended as the only two positive sectors for the year.

In comments broadcast live by all state media, Xi said China launched more than 100 major reform measures in 2018 and unveiled a comprehensive and systematic overhaul of both party and state institutions. Regeneron Pharmaceuticals rose 2.4 per cent to $371.40.

On Monday, benchmark U.S. crude oil inched up 0.2 percent to settle at $45.41 a barrel in NY.

The three-month slide included a dramatic drop in the so-called FAANG stocks - Facebook, Amazon, Apple, Netflix, and Google parent Alphabet - and culminated in the worst Christmas Eve market drop in history.

"China stands ready to work with the United States to implement the important consensus reached by President Xi Jinping and President Trump in Argentina, expand co-operation on the basis of mutual benefit, manage differences on the basis of mutual respect", Mr Lu said. Mr Trump said that he and Mr Xi spoke at length, and that "big progress" is being made towards a deal.

The pointless trade war president Donald Trump ignited - and who bragged will be easy to win - has made big losers out of both the United States and China to the tune of billions of lost dollars, while inflicting incalculable damage to global growth.

Xinhua, a Chinese state-controlled news organisation, reported on Sunday that Xi told Trump in a telephone call that he had "hopes that both teams can meet each other halfway and reach an agreement beneficial to both countries and the world as early as possible".

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