Stock Market Climbs on Hopes of US-China Deal

(CN) – Stocks in the U.S. rose slightly Monday on the last day of a turbulent economic year and international markets also ticked up on hopes of a trade deal between the U.S. and China.

In this Dec. 28, 2018, file photo, trader Jonathan Corpina works on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

By 10 a.m. Eastern Time, the S&P 500 rose 15 points, or 0.6 percent, while the Dow Jones Industrial Average grew by 0.9 percent and the Nasdaq added 45 points, or 0.7 percent.

Monday’s increases came after President Donald Trump tweeted Saturday that he had “a long and very good call with President Xi of China.”

“Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute,” he wrote. “Big progress being made!”

The stock market was particularly volatile in December. All indexes are still down about 10 percent for the month in what is expected to be the worst December for trading since 1931.

Considered the market’s primary benchmark, the S&P 500 is on track to lose 5.2 percent overall this year once dividends are included.

Internationally, the Hang Seng in Hong Kong grew 1.3 percent Monday and India’s Sensexticked up 0.2 percent.

Europe’s CAC 40 of France rose 1.1. percent but will end the year down about 11 percent.

The FTSE 100 in Britain was down 0.1 percent at close Monday and will end 2018 down about 12.5 percent overall. Germany’s DAX, which was closed for the New Year holiday, will post an annual loss of 18 percent.

The Associated Press contributed to this report.

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