US Stock futures pointed to an optimistic end-meeting in 2018 on Monday, when investors drew inspiration from trading headlines pointing to hopes of progress between the US and China.
How are benchmarks going?
Dow Jones Industrial Average Futures
YMH9, + 0.88%
climbed 228 points, or 1% to 23,263, while S & P 500 futures
ESH9, + 0.84%
increased 22 points, or 0.9% to 2.508 and Nasdaq-1[ads1]00
NQH9, + 0.99%
futures jumped 66.75 points, or 1% to 6,360.25.
Last week, the major indexes managed the first weekly win for all three indices since late November. Friday's back and forth session ended with a late push higher fizzling out, leaving the Dow Jones Industrial Average
to settle down 0.3% to 23.062.40. S&P 500
completed 0.1% and Nasdaq Composite
COMP, + 0.08%
eked ut and 0.1% gain.
For the week, S & P 500 recorded a 2.9% increase, while Dow rose 2.8% and Nasdaq rallied 4%.
But with a session again, Dow sees a killing of 1.656.82 points, or 6.7% for 2018, its biggest one-year point and percentage decline since 2008, while a quarterly loss of 12.83% is the worst since first quarter of 2009. A monthly loss of 9.7% makes it the worst December since 1931 for Dow and the largest one month percentage decline since February 2009.
The year is also the worst ever since 2008 for S & P 500 , down 7%, and the Nasdaq Composite, of 4.6%.
Read: Here's why stock market bullet banks in January to stabilize the ship
What drives the market?
While Monday's session may see thin volumes ahead of Tuesday's New Year's holiday, the appetite for perceived risky resources like stocks can rise from trading headlines.
U.S .. President Donald Trump tweeted Saturday that he and Chinese leader Xi Jinping had made great strides in a phone call on trading, and that a deal was "moving very well." But sources close to the advocates said Trump may exaggerate progress in a bid to calm markets, according to The Wall Street Journal.
The report said the US is pushing China to give details of the proposals it made since the two leaders met in Buenos Aires on December 1, for example, opening up countries to foreign investors. Some in the Trump administration have expressed doubts that there will be meaningful progress unless Beijing sets out the exact changes it will make.
New data from China showed that production activity hit a two-year low, a sign of increasing weakness for the world's second largest economy.
A state closure is set to stretch into 2019, with both sides of a dead wall over border wall funding, and most lawmakers are gone for the holidays.
Read: Trump cancels 2019 wage increases for most federal workers
How do other markets trade?
Oil prices coincided with stocks, with West Texas Intermediate crude prices
up 1.3% to $ 45.90 per barrel. gold Prices
GCG9, + 0.03%
slipped while ICE Dollar Index
Most Asian markets were closed before New Year's holiday and will remain closed on Tuesday. Hong Kong's Hang Seng Index
HSI, + 1.34%
increased 1.3%, and looked at a close 14% loss for 2018, according to FactSet.
Provides critical information for the US trading day. Subscribe to MarketWatch's free need to know newsletters. Register here.