Wall Street advanced in low-volume trading on Monday as revelers gathered to ring in 2019, marking the end of the worst year for USA stocks since 2008, the height of the financial crisis.
Last year, the US shipped $188 billion of goods and services to Beijing and ran a $336 billion deficit in total trade. It is, however, still set for its highest yearly percentage gain since 2015.
The Dow Jones Industrial Average rose 150 points, or 0.6 percent, to 23,214.
But even with Monday's boost, the three indexes ended in the red.
Wall Street analysts will remember 2018 for the return of volatility, which swept back into the markets after a remarkably quiet 2017. Most other markets were closed for the New Year holiday.
In the same year, late paramount leader Deng Xiaoping, often credited with China's "Reform and Opening" policy which led to its economic transformation, met USA president Jimmy Carter in the United States. "This was really the year that market volatility returned with a vengeance".
Canada found itself caught up in the U.S. -China trade dispute and higher interest rates would slow the economy, hurting corporate profits.
Experts say that despite the hard year for the market, people should not fear an impending financial crisis.
The euro was up 0.2 percent to $1.1459, on track to end the year down almost 5 percent against the dollar. The purchasing managers' index of the National Bureau of Statistics and an industry group, the China Federation of Logistics and Purchasing, fell to 49.4 from November's 50.0 on a 100-point scale, on which numbers below 50 show activity contracting. The Dow finished at negative 5.97 percent for the year.
THAT HEALTHY FEELING: Health care stocks were among the biggest gainers.
All 11 major sectors in the S&P 500 ended the session in positive territory.
"At the end of 90 days, these tariffs will be raised. if we don't get a satisfactory solution", U.S. Trade Representative Robert Lighthizer told CBS's Face The Nationabout the truce. Apple rose 1.9 percent and Amazon added 2.8 percent. It advanced 72 cents to $45.33 per barrel on Friday.
ENERGY: Benchmark U.S. crude oil gained 0.9 per cent to $45.73 a barrel in NY. Brent crude, the benchmark for worldwide prices, gained 97 cents to $54.19 per barrel.
US-CHINA TRADE: Investors drew encouragement from a tweet from President Donald Trump on Sunday, in which the president said he had a "long and very good call" with Chinese President Xi Jinping. The Wall Street Journal on Saturday reported negotiators for the two countries have started to flesh out a deal but said Mr. Trump may have overstated how close the two sides were to a deal, citing unidentified sources familiar with the state of negotiations. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. The president also claimed that "big progress" was being made on this front.
The meeting will be the first face-to-face engagement of the two sides regarding trade since US President Trump and China's Xi Jinping agreed earlier this month in Buenos Aires on de-escalating their tensions for a moment.
China's state media also reported Xi and Trump spoke December 29, and quoted Xi as saying that teams from both countries have been working to implement a consensus reached with Trump. The dollar index, which measures the greenback against a basket of six other currencies, was down 0.3 percent and on track to end December with a loss. The euro strengthened to $1.1474 from $1.1442.