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Stocks book their worst December since the Great Depression



  How Congratulations Stole Christmas Universal

  • US stock markets rallied Monday after President Donald Trump expressed optimism about the possibility of a trade deal with China.
  • Nevertheless, the large averages gave their best December result since 1931, with S & P 500 falling 9.2%.
  • The benchmark index was down 6.2% in 2018.
  • See stocks act live.

Stocks rose in the new year, but failed to stave off their worst December since the Great Depression.

The Dow Jones Industrial Average received 267 points, or 1

.16%, while the S & P 500 was higher with 21 points, or 0.86%, close to 2.507. Despite Monday's gain, S & P 500 fell 9.6% in December, making it the worst end month of the year since 1931, when it dropped 14.5%. The benchmark index lost 6.2% in 2018, the biggest annual decline since 2008.

Monday's gains came after President Donald Trump tweeted on Saturday that US-China trade negotiations were about to give optimism that an agreement could be canceled in January , when face to face negotiations between the two sides are expected to take place.

"Just had a long and very good conversation with President Xi in China," Trump tweeted .

"Deal goes very well. If it is done, it will be very comprehensive, covering all topics, areas and disputes. Great progress is made!"

An agreement between the world's two largest economies would be welcome to the world economy, as production data has deteriorated in both countries. On Monday, China's official manufacturing procurement index showed that the sector contracted for the first time in two years, and a survey of business executives in Texas showed that activity levels dropped to their lowest level since mid-2016.

But the negative data could Do not prevent gains on the last trading day of the year.

Amazon was up 1.3%, to $ 1,501.97 after the Wall Street Journal reported that Whole Foods employees are looking at outlet stores in North America that will allow more customers to be within Prime Nows to -time delivery -service range.

Other technological names also achieved, with Netflix climbing 4.3% to $ 267.66, and AMD gained 3.5%, at $ 18.46.

On the commodity front, West Texas Intermediate crude climbed 1.24% to over $ 45.70 per barrel. Meanwhile, natural gas doubled over 10% to 2,965 per million British thermal units. It closed more than 35% in December.

The dollar went 0.31% against a basket of big peers, and flirted and lay at its lowest level since November 7. Yields were weaker, with 10-year down 3.4 basis points of 2,684%. ]

Markets across much of Asia and Europe were shuttered for New Year. They will remain closed until Wednesday.


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