The BSE Sensex crossed the historic 50,000-mark on Thursday boosted by Reliance Industries after the country's stock exchanges approved its deal with Future Group.

The Sensex rose 50057.32 rising 230.69 points&nbsp;in early morning trade amid strong global cues.&nbsp;Nifty surged&nbsp;72.95 points&nbsp;to record 14,717.65.

The 30-share BSE Sensex had advanced by 393.83 to close at a fresh record of 49,792.12 on Wednesday.

The NSE Nifty had surged 123.55 points to settle at a lifetime high of 14,644.70 after US Treasury Secretary nominee Janet Yellen called for a stimulus to protect the US economy.&nbsp;&nbsp;Reliance shares had risen&nbsp;1.7 per cent&nbsp;after Indian stock exchanges on Wednesday

President-elect Joe Biden, who will be sworn into office on Wednesday has laid out a $1.9 trillion stimulus package proposal to boost the economy.

The BSE Sensex crossed the historic 50,000-mark on Thursday boosted by Reliance Industries after the country's stock exchanges approved its deal with Future Group.

The BSE Sensex crossed the historic 50,000-mark on Thursday boosted by Reliance Industries after the country's stock exchanges approved its deal with Future Group. The Sensex rose 50057.32 rising 230.69 points in early morning trade amid strong global cues. Nifty surged 72.95 points to record 14,717.65. The 30-share BSE Sensex had advanced by 393.83 to close at a fresh record of 49,792.12 on Wednesday. The NSE Nifty had surged 123.55 points to settle at a lifetime high of 14,644.70 after US Treasury Secretary nominee Janet Yellen called for a stimulus to protect the US economy. Reliance shares had risen 1.7 per cent after Indian stock exchanges on Wednesday President-elect Joe Biden, who will be sworn into office on Wednesday has laid out a $1.9 trillion stimulus package proposal to boost the economy.

Sensex crosses historic 50,000-mark

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&amp;P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.07%, and Hong Kong's Hang Seng index futures inched up 0.17%.

Investors cheered a potential Brexit trade deal between Britain and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year's Day.

"The framework for a Brexit trade deal gave investors the green light to start buying everything in Europe," said Edward Moya, Senior Market Analyst, at OANDA in New York. He was quoted by Reuters.

A potential Brexit deal also boosted sterling, which went up 0.13% against the dollar at $1.3509 after closing up 0.9%. The pound also rose after Francen lifted ban on freight coming from Britain.

Wall Street ended mostly higher, with the Dow Jones Industrial Average closing up 0.38% and the S&amp;P 500 edging 0.07% higher. The Nasdaq Composite declined 0.29%.

A raft of mixed U.S. economic data showed lower jobless claims and an uptick in new orders for durable goods, but also a pullback in consumer spending, falling personal income and fading sentiment as the holiday shopping season nears its end amid a resurgent pandemic.

Investors largely shrugged off comments by President Trump saying a nearly $900 billion stimulus bill, agreed upon after months of wrangling in Congress, was "a disgrace" that he might not sign. Trump said he wanted to increase "ridiculously low" $600 payments for individuals to $2,000, in a video posted to Twitter.

"Risk-on sentiment is guiding markets so far today and it appears to be weighted more toward possible optimism toward a Brexit deal and the cherry-picked parts of U.S. releases, rather than Trump's reckless antics over signing the stimulus and funding bill," said Derek Holt, head of capital markets Economics at Scotiabank.

Oil prices settled more than 2% higher as draws in U.S. inventories of crude, gasoline and distillates lifted investors' hopes for some return in fuel demand

(With Reuters inputs)

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.07%, and Hong Kong's Hang Seng index futures inched up 0.17%. Investors cheered a potential Brexit trade deal between Britain and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year's Day. "The framework for a Brexit trade deal gave investors the green light to start buying everything in Europe," said Edward Moya, Senior Market Analyst, at OANDA in New York. He was quoted by Reuters. A potential Brexit deal also boosted sterling, which went up 0.13% against the dollar at $1.3509 after closing up 0.9%. The pound also rose after Francen lifted ban on freight coming from Britain. Wall Street ended mostly higher, with the Dow Jones Industrial Average closing up 0.38% and the S&P 500 edging 0.07% higher. The Nasdaq Composite declined 0.29%. A raft of mixed U.S. economic data showed lower jobless claims and an uptick in new orders for durable goods, but also a pullback in consumer spending, falling personal income and fading sentiment as the holiday shopping season nears its end amid a resurgent pandemic. Investors largely shrugged off comments by President Trump saying a nearly $900 billion stimulus bill, agreed upon after months of wrangling in Congress, was "a disgrace" that he might not sign. Trump said he wanted to increase "ridiculously low" $600 payments for individuals to $2,000, in a video posted to Twitter. "Risk-on sentiment is guiding markets so far today and it appears to be weighted more toward possible optimism toward a Brexit deal and the cherry-picked parts of U.S. releases, rather than Trump's reckless antics over signing the stimulus and funding bill," said Derek Holt, head of capital markets Economics at Scotiabank. Oil prices settled more than 2% higher as draws in U.S. inventories of crude, gasoline and distillates lifted investors' hopes for some return in fuel demand (With Reuters inputs)

Asian markets rise at the prospect of a Brexit deal

Beginning this week, water will be exchanged on the Wall Street wares fates market, because of its shortage. The cost of the crucial fluid will vacillate much the same as oil, gold, or wheat, CME Group announced.&nbsp;

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— CME Group (@CMEGroup) <a href="https://twitter.com/CMEGroup/status/1335954717852262403?ref_src=twsrc%5Etfw">December 7, 2020</a></blockquote>
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Water shortages could affect around five billion people worldwide by 2050, according to the United Nations.

The cost of water in California has multiplied in the most recent year, as indicated by the Nasdaq Velez California Water Index. Specialists guarantee that its appearance on the ware market will permit better administration of things to come hazard related to this resource.&nbsp;

The US organisation CME Group will dispatch contracts identified with California spot water, a market of 1.1 billion dollars. With the NQH2O ticker, the cost of water prospects in California was exchanging today at about $ 486.53 per acre-foot, which is comparable to 1,233 cubic meters.&nbsp;

The record depends on costs in California's significant waterway bowls, where water shortage has expanded. This worth can be utilized as a source of perspective for the remainder of the world in the water markets.&nbsp;

Ranchers, assets, or regions may ensure themselves or theorize against changes in the cost of water. As per CME Group, the new agreements will permit better administration of the danger related to water shortage and make a superior relationship among's organic market in the business sectors.&nbsp;

These fates contracts don't need actual conveyance of water and are absolutely monetary. They depend on the week after week cost arrived at the midpoint of over California's best five watersheds through 2022.&nbsp;

These agreements are the first of their sort in the United States and were declared in September when the west bank of the nation was crushed by warmth and fierce blazes. As per Bloomberg, they are expected to "fill in as security for California's biggest water buyers against rising costs and as a marker of shortage for financial specialists around the globe."&nbsp;

China and the United States are the world's primary customers of water. As per the United Nations, 2 billion individuals live in nations with difficult issues of admittance to water. The office gauges that in the following not many years 66% of the planet could encounter water deficiencies and a huge number of individuals will be uprooted by it.&nbsp;

The inadequacy of the crucial fluid is identified with the over the top misuse of these assets by the essential area, industry, and human utilization, just as environmental change.

Beginning this week, water will be exchanged on the Wall Street wares fates market, because of its shortage. The cost of the crucial fluid will vacillate much the same as oil, gold, or wheat, CME Group announced.

Beginning this week, water will be exchanged on the Wall Street wares fates market, because of its shortage. The cost of the crucial fluid will vacillate much the same as oil, gold, or wheat, CME Group announced. .@Nasdaq Veles California Water Index (NQH2O) futures are here, the first-of-its kind tool to help market participants manage water supply and demand risk. — CME Group (@CMEGroup) December 7, 2020 × Water shortages could affect around five billion people worldwide by 2050, according to the United Nations. The cost of water in California has multiplied in the most recent year, as indicated by the Nasdaq Velez California Water Index. Specialists guarantee that its appearance on the ware market will permit better administration of things to come hazard related to this resource. The US organisation CME Group will dispatch contracts identified with California spot water, a market of 1.1 billion dollars. With the NQH2O ticker, the cost of water prospects in California was exchanging today at about $ 486.53 per acre-foot, which is comparable to 1,233 cubic meters. The record depends on costs in California's significant waterway bowls, where water shortage has expanded. This worth can be utilized as a source of perspective for the remainder of the world in the water markets. Ranchers, assets, or regions may ensure themselves or theorize against changes in the cost of water. As per CME Group, the new agreements will permit better administration of the danger related to water shortage and make a superior relationship among's organic market in the business sectors. These fates contracts don't need actual conveyance of water and are absolutely monetary. They depend on the week after week cost arrived at the midpoint of over California's best five watersheds through 2022. These agreements are the first of their sort in the United States and were declared in September when the west bank of the nation was crushed by warmth and fierce blazes. As per Bloomberg, they are expected to "fill in as security for California's biggest water buyers against rising costs and as a marker of shortage for financial specialists around the globe." China and the United States are the world's primary customers of water. As per the United Nations, 2 billion individuals live in nations with difficult issues of admittance to water. The office gauges that in the following not many years 66% of the planet could encounter water deficiencies and a huge number of individuals will be uprooted by it. The inadequacy of the crucial fluid is identified with the over the top misuse of these assets by the essential area, industry, and human utilization, just as environmental change.

Wall Street to begin trading water for the first time due to fear of shortages

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court.

Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs.

The Dow climbed&nbsp;0.9 percent while the broader S&amp;P 500&nbsp;rose 1.6 percent and the tech-heavy Nasdaq Composite jumped 2.7 percent.

European stock markets, which opened sharply lower after President&nbsp;Donald Trump said he would go to the Supreme Court to dispute the US vote count, turned higher in late morning deals and in afternoon trading they were all posting gains of over 1 percent.

Around 1330 GMT, London's benchmark FTSE 100 index was up 1.0 percent, while the pound fell 0.7 percent against the dollar.

In the eurozone, the Frankfurt stock market&nbsp;rose 0.9&nbsp;percent and Paris climbed 1.3 percent.

The euro was down around a tenth of a percent versus the dollar, while oil prices surged over 2 percent.

Asian indices mostly closed up but that was ahead of Trump declaring he would dispute the election.

<a href="https://www.wionews.com/world/us-election-2020-result-live-update-donald-trump-joe-biden-votes-tally-president-predictions-begins-vote-count-how-to-follow-the-2020-us-election-results-from-india-Trump-wins-Kentucky-joe-Biden-Vermont-340293">Click here for latest on US Election 2020</a>

The US election was plunged into chaos early Wednesday as Trump prematurely declared victory and sought Supreme Court intervention to stop vote-counting -- &nbsp;even as his Democratic rival Joe Biden voiced confidence in his own chances.

"With Donald Trump already claiming victory even though millions of votes are still uncounted, investors may have to belt up and brace themselves for some volatile sessions of trading ahead," noted Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

In a divisive election cast under the shadow of the coronavirus pandemic that has claimed more than 230,000 lives in the United States, Trump appeared to have avoided a Democratic wave predicted by some polls but he still needs key states to secure another four-year term.

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&nbsp;

"The polls got it wrong," said OANDA analyst Edward Moya. "Wall Street hoped for election certainty and what they will end up getting over the next couple days is recounts and lawsuits."

Biden's White House campaign slammed Trump's threat to try to stop the election vote count as "outrageous", saying its legal team was ready to prevent such an "unprecedented" act.

'Nightmare situation'

"The US election has become a mess," said Naeem Aslam, chief market analyst at Avatrade.

"Basically, we are seeing a nightmare situation come true because now we are talking about legal battles. This uncertainty is going to keep traders on edge."

Also Read | <a href="https://www.wionews.com/photos/us-election-2020-historical-firsts-in-the-presidential-election-340498#four-consecutive-two-term-presidencies-340478">US election 2020: Historical firsts in the presidential election</a>

Aslam added that investors still saw the dollar as a safe bet amid the volatility on stock markets.

Before Wednesday's shock turn of events, world equities had rallied this week as traders piled bets on Biden winning, with opinion polls showing him with a big national lead though with slim advantages in battleground states.

While Tuesday was formally Election Day, in reality, Americans have been voting for weeks. The Covid-19 pandemic caused a huge expansion in mail-in and early voting, and nearly 100 million people had already cast their ballots.

While a failure for Biden and the Democrats would jolt markets, the general consensus is that whoever wins will still push through a major stimulus package for the struggling US economy as it battles the virus.

Key figures around 1330 GMT

New York - Dow: UP 0.9&nbsp;percent at 27,731.20

London - FTSE 100: UP 1.0 percent at 5,842.38 points

Frankfurt - DAX 30: UP 0.9 percent at 12,195.65

Paris - CAC 40: UP 1.3 percent at 4,866.88

EURO STOXX 50: UP 0.9 percent at 3,125.44

Tokyo - Nikkei 225: UP 1.7 percent at 23,695.23 (close)

Hong Kong - Hang Seng: DOWN 0.2 percent at 24,886.14 (close)

Shanghai - Composite: UP 0.2 percent at 3,277.44 (close)

Euro/dollar: DOWN at $1.1701 from $1.1711 at 2115 GMT

Dollar/yen: UP at 104.48 yen from 104.52 yen

Pound/dollar: DOWN at $1.2964 from $1.3035

Euro/pound: UP at 90.25 pence from 89.82 pence

West Texas Intermediate: UP 2.3 percent at $38.53 per barrel

Brent North Sea crude: UP 2.3 percent at $40.64 per barrel

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court. Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs.

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court. Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs. The Dow climbed 0.9 percent while the broader S&P 500 rose 1.6 percent and the tech-heavy Nasdaq Composite jumped 2.7 percent. European stock markets, which opened sharply lower after President Donald Trump said he would go to the Supreme Court to dispute the US vote count, turned higher in late morning deals and in afternoon trading they were all posting gains of over 1 percent. Around 1330 GMT, London's benchmark FTSE 100 index was up 1.0 percent, while the pound fell 0.7 percent against the dollar. In the eurozone, the Frankfurt stock market rose 0.9 percent and Paris climbed 1.3 percent. The euro was down around a tenth of a percent versus the dollar, while oil prices surged over 2 percent. Asian indices mostly closed up but that was ahead of Trump declaring he would dispute the election. Click here for latest on US Election 2020 The US election was plunged into chaos early Wednesday as Trump prematurely declared victory and sought Supreme Court intervention to stop vote-counting -- even as his Democratic rival Joe Biden voiced confidence in his own chances. "With Donald Trump already claiming victory even though millions of votes are still uncounted, investors may have to belt up and brace themselves for some volatile sessions of trading ahead," noted Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. In a divisive election cast under the shadow of the coronavirus pandemic that has claimed more than 230,000 lives in the United States, Trump appeared to have avoided a Democratic wave predicted by some polls but he still needs key states to secure another four-year term. × "The polls got it wrong," said OANDA analyst Edward Moya. "Wall Street hoped for election certainty and what they will end up getting over the next couple days is recounts and lawsuits." Biden's White House campaign slammed Trump's threat to try to stop the election vote count as "outrageous", saying its legal team was ready to prevent such an "unprecedented" act. 'Nightmare situation' "The US election has become a mess," said Naeem Aslam, chief market analyst at Avatrade. "Basically, we are seeing a nightmare situation come true because now we are talking about legal battles. This uncertainty is going to keep traders on edge." Also Read | US election 2020: Historical firsts in the presidential election Aslam added that investors still saw the dollar as a safe bet amid the volatility on stock markets. Before Wednesday's shock turn of events, world equities had rallied this week as traders piled bets on Biden winning, with opinion polls showing him with a big national lead though with slim advantages in battleground states. While Tuesday was formally Election Day, in reality, Americans have been voting for weeks. The Covid-19 pandemic caused a huge expansion in mail-in and early voting, and nearly 100 million people had already cast their ballots. While a failure for Biden and the Democrats would jolt markets, the general consensus is that whoever wins will still push through a major stimulus package for the struggling US economy as it battles the virus. Key figures around 1330 GMT New York - Dow: UP 0.9 percent at 27,731.20 London - FTSE 100: UP 1.0 percent at 5,842.38 points Frankfurt - DAX 30: UP 0.9 percent at 12,195.65 Paris - CAC 40: UP 1.3 percent at 4,866.88 EURO STOXX 50: UP 0.9 percent at 3,125.44 Tokyo - Nikkei 225: UP 1.7 percent at 23,695.23 (close) Hong Kong - Hang Seng: DOWN 0.2 percent at 24,886.14 (close) Shanghai - Composite: UP 0.2 percent at 3,277.44 (close) Euro/dollar: DOWN at $1.1701 from $1.1711 at 2115 GMT Dollar/yen: UP at 104.48 yen from 104.52 yen Pound/dollar: DOWN at $1.2964 from $1.3035 Euro/pound: UP at 90.25 pence from 89.82 pence West Texas Intermediate: UP 2.3 percent at $38.53 per barrel Brent North Sea crude: UP 2.3 percent at $40.64 per barrel

US stocks open higher despite US vote uncertainty

As voters turned up in huge numbers during <a href="https://www.wionews.com/world/us-election-2020-heres-how-american-leaders-are-urging-people-to-go-out-and-vote-340269">US elections</a> 2020, the markets gave the election wave a thumbs-up with the Dow ending up 2.1 per cent in Election Day session. |&nbsp;<a href="https://www.wionews.com/world/live-us-election-2020-donald-trump-joe-biden-more-than-98-million-voted-to-elect-the-next-president-340039">LIVE update: It is going to be a tight race, says Kamala Harris to US voters</a>

Watch:

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The Dow finished nearly 550 points up at 27,477.40 as the markets leaned towards Biden who has been leading the opinion polls for the past month.

The S&amp;P 500 went up 1.8 per cent to end at 3,369.11, while the Nasdaq Composite Index closed at 11,160.57.

<a href="https://www.wionews.com/world/us-elections-2020-country-entitled-to-know-who-won-on-november-3-says-trump-340238">Also Read:&nbsp;Country entitled to know who won on November 3, says Trump</a>

The markets across the world were on a high even as the dollar took a hit amid the US polls. As the markets closed, over 100 million US voters had already exercised their franchise.&nbsp;

The Dow kept its momentum as it opened up 1.3 per cent at 27,275.22. The S&amp;P 500 went up 1.0 per cent to 3,344.23, while Nasdaq Composite Index to 11,027.65. The surge in numbers come as Biden led Trump in final opinion polls even as US voters exercised their franchise.

<a href="https://www.wionews.com/world/us-election-2020-heres-how-american-leaders-are-urging-people-to-go-out-and-vote-340269">Also Read:&nbsp;Here's how American leaders are urging people to go out and vote</a>

At close, the S&amp;P 500 was up 1.8 per cent ending at 3,369.11, while the Nasdaq gained finished at 11,160.57.

On Friday, the markets had bled amid reports of surging coronavirus cases as Europe and America touched grim COVID-19 milestones.

According to Johns Hopkins University, the United States has over 9 million coronavirus cases.

As voters turned up in huge numbers during US elections 2020, the markets gave the election wave a thumbs-up with the Dow ending up 2.1 per cent in Election Day session.

As voters turned up in huge numbers during US elections 2020, the markets gave the election wave a thumbs-up with the Dow ending up 2.1 per cent in Election Day session. | LIVE update: It is going to be a tight race, says Kamala Harris to US voters Watch: The Dow finished nearly 550 points up at 27,477.40 as the markets leaned towards Biden who has been leading the opinion polls for the past month. The S&P 500 went up 1.8 per cent to end at 3,369.11, while the Nasdaq Composite Index closed at 11,160.57. Also Read: Country entitled to know who won on November 3, says Trump The markets across the world were on a high even as the dollar took a hit amid the US polls. As the markets closed, over 100 million US voters had already exercised their franchise. The Dow kept its momentum as it opened up 1.3 per cent at 27,275.22. The S&P 500 went up 1.0 per cent to 3,344.23, while Nasdaq Composite Index to 11,027.65. The surge in numbers come as Biden led Trump in final opinion polls even as US voters exercised their franchise. Also Read: Here's how American leaders are urging people to go out and vote At close, the S&P 500 was up 1.8 per cent ending at 3,369.11, while the Nasdaq gained finished at 11,160.57. On Friday, the markets had bled amid reports of surging coronavirus cases as Europe and America touched grim COVID-19 milestones. According to Johns Hopkins University, the United States has over 9 million coronavirus cases.

US elections 2020: On election day, Wall Street ends on a high; Dow up over 2%

Investors may take slight comfort in coming weeks from U.S. corporate earnings that are likely to be bad, but not as bad as they have been.

World Business Watch: Wall Street week ahead: Improvement in US earnings expected

Asian markets follow Wall Street fall as Sensex, Nifty slump in morning trade. This has been Wall Street's biggest loss since March 16. Watch this video to know more.

Asian markets follow Wall Street fall; Sensex, Nifty slump in morning trade

U.S. stocks fell on Friday as fears of economic damage from the spread of the coronavirus intensified, though Wall Street's major indexes ended well above their session lows.

Wall street ends wild street with cuts, significant declines on Wall street | Coronavirus Outbreak

In the aftermath of the global stock markets bloodbath, world's 500 richest people lost $444 billion in total this week, Bloomberg Billionaires Index said on Saturday.

The US stock market suffered a historic pullback after the Dow Jones Industrial Average and S&amp;P 500 each tumbled over 12 per cent and 11% this week over the coronavirus pandemic and wiped out more than $6 trillion from global stocks. It was the biggest five-day slide since the depths of the 2008 financial crisis.

Also read:<a href="https://www.wionews.com/business-economy/sensex-nifty-crash-as-global-markets-dive-over-spread-of-coronavirus-283314"> Sensex, Nifty crash as global markets dive over spread of coronavirus</a>

According to the report, the world’s three richest people, Amazon founder Jeff Bezos, Microsoft Corporation's Bill Gates and LVMH Chairman Bernard Arnault suffered the biggest losses, as their combined wealth dropped about $30 billion.

Founder of SpaceX and CEO of Tesla, Elon Musk, lost $9 billion as shares of Tesla recorded a major dip. &nbsp;

Also Read:<a href="https://www.wionews.com/business-economy/carnage-on-dalal-street-stock-market-crash-wipes-off-rs-5-lakh-cr-investor-wealth-283262"> Carnage on Dalal Street - Stock market crash wipes off Rs 5 lakh cr investor wealth</a>

The virus which originated from Wuhan in Hubei province in China has already claimed 2,856 people and infected more than 83,000 worldwide and spread to at least 45 countries.&nbsp;

However, Iran has emerged as a new hotspot for the virus, with at least 43 deaths and more than 245 infections so far.

Meanwhile, oil prices sank to a new low of $50.05 per barrel as the virus sparked panic over crude demand.

European stock markets bled with Frankfurt's DAX 30 index diving 5.2 per cent. 
&nbsp;

In the aftermath of the global stock markets bloodbath, world's 500 richest people lost $444 billion in total this week, Bloomberg Billionaires Index said on Saturday.

In the aftermath of the global stock markets bloodbath, world's 500 richest people lost $444 billion in total this week, Bloomberg Billionaires Index said on Saturday. The US stock market suffered a historic pullback after the Dow Jones Industrial Average and S&P 500 each tumbled over 12 per cent and 11% this week over the coronavirus pandemic and wiped out more than $6 trillion from global stocks. It was the biggest five-day slide since the depths of the 2008 financial crisis. Also read: Sensex, Nifty crash as global markets dive over spread of coronavirus According to the report, the world’s three richest people, Amazon founder Jeff Bezos, Microsoft Corporation's Bill Gates and LVMH Chairman Bernard Arnault suffered the biggest losses, as their combined wealth dropped about $30 billion. Founder of SpaceX and CEO of Tesla, Elon Musk, lost $9 billion as shares of Tesla recorded a major dip. Also Read: Carnage on Dalal Street - Stock market crash wipes off Rs 5 lakh cr investor wealth The virus which originated from Wuhan in Hubei province in China has already claimed 2,856 people and infected more than 83,000 worldwide and spread to at least 45 countries. However, Iran has emerged as a new hotspot for the virus, with at least 43 deaths and more than 245 infections so far. Meanwhile, oil prices sank to a new low of $50.05 per barrel as the virus sparked panic over crude demand. European stock markets bled with Frankfurt's DAX 30 index diving 5.2 per cent.

World's richest including Jeff Bezos and Bill Gates lose $444 billion in a week after global markets bleed

China cancels press credentials of 3 Wall Street Journal's Journalists. This comes after newspaper refused to apologise for its article that titled 'China is the real sick man of Asia'.

China revokes 3 American Journalists  of Wall Street Journal

Our penchant for knowledge and curiosity has helped make Google's parent company Alphabet worth one trillion dollars.&nbsp;

They are the fourth American company to break this barrier, after Apple, Microsoft and Amazon.

While the state-run oil company Saudi Aramco is worth 2 trillion.

A trillion dollars is a million dollars multiplied by a million.

To be specific, Google's parent company Alphabet's stock market value is now 1 trillion dollars.

This just six weeks after founders Larry Page and Sergei Brin gave up their top jobs and handed over the reins to Google Chief Executive Sundar Pichai.

<h6><img alt="Google" data-entity-type="file" data-entity-uuid="51a56648-f96e-4d41-b467-1446f7689bfb" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%289%29_15.jpg" /> 
Image: Google CEO Sundar Pichai 
&nbsp;</h6>

This change has worked on Wall Street. Last quarter, the company's profits were lesser than market estimates by nearly 2 billion dollars.

But that did little to dent investors' bullishness on the company.

Alphabet's stock retreated briefly, only to resume its climb.

The stock surged up by nearly 17 per cent over the last three months, better than fellow tech giants and the rest of the market.

For the calendar year 2019, Alphabet's stock was up nearly 35 per cent.

Watch:&nbsp;Google's parent company enters Trillion Dollar Club

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And now as 2020 begins, some are already wondering whether it's time to cash in on the extraordinary gains.

But a lot will depend on Alphabet's fourth-quarter earnings report which is scheduled to release early in February.

With this feat, Alphabet has become only the fourth company in American history to reach the magical figure.

Apple, Amazon, and Microsoft are the only other US companies.

And among those, Amazon saw its market value hit the trillion-dollar mark, and soon fall below it.

Shares of the company are down nearly 7 per cent over the last six months.

So the trillion dollar achievement is in essence, a slippery slope.

<h6><img alt="Google" data-entity-type="file" data-entity-uuid="20cdd409-4953-4658-a9b5-5e008dfd0280" src="//cdn.wionews.com/sites/default/files/inline-images/94845-untitled-design-2019-05-20t180449041.jpg" /> 
Image: Google logo | AFP 
&nbsp;</h6>

Apple is currently the world’s most valuable company with a market cap of $1.4 trillion, while Microsoft is valued at $1.3 trillion.

And now Google aka Alphabet has joined the club.

However, Google has stiff competition, not from tech companies, but from the world's largest oil company: Saudi Aramco. Aramco became the world's first two trillion dollar company last month.

That too within 48 hours of becoming a listed company on the Saudi Stock Exchange.

Our penchant for knowledge and curiosity has helped make Google's parent company Alphabet worth one trillion dollars. They are the fourth American company to break this barrier, after Apple, Microsoft and Amazon.

Our penchant for knowledge and curiosity has helped make Google's parent company Alphabet worth one trillion dollars. They are the fourth American company to break this barrier, after Apple, Microsoft and Amazon. While the state-run oil company Saudi Aramco is worth 2 trillion. A trillion dollars is a million dollars multiplied by a million. To be specific, Google's parent company Alphabet's stock market value is now 1 trillion dollars. This just six weeks after founders Larry Page and Sergei Brin gave up their top jobs and handed over the reins to Google Chief Executive Sundar Pichai. Image: Google CEO Sundar Pichai This change has worked on Wall Street. Last quarter, the company's profits were lesser than market estimates by nearly 2 billion dollars. But that did little to dent investors' bullishness on the company. Alphabet's stock retreated briefly, only to resume its climb. The stock surged up by nearly 17 per cent over the last three months, better than fellow tech giants and the rest of the market. For the calendar year 2019, Alphabet's stock was up nearly 35 per cent. Watch: Google's parent company enters Trillion Dollar Club And now as 2020 begins, some are already wondering whether it's time to cash in on the extraordinary gains. But a lot will depend on Alphabet's fourth-quarter earnings report which is scheduled to release early in February. With this feat, Alphabet has become only the fourth company in American history to reach the magical figure. Apple, Amazon, and Microsoft are the only other US companies. And among those, Amazon saw its market value hit the trillion-dollar mark, and soon fall below it. Shares of the company are down nearly 7 per cent over the last six months. So the trillion dollar achievement is in essence, a slippery slope. Image: Google logo | AFP Apple is currently the world’s most valuable company with a market cap of $1.4 trillion, while Microsoft is valued at $1.3 trillion. And now Google aka Alphabet has joined the club. However, Google has stiff competition, not from tech companies, but from the world's largest oil company: Saudi Aramco. Aramco became the world's first two trillion dollar company last month. That too within 48 hours of becoming a listed company on the Saudi Stock Exchange.

Alphabet: Google's parent company now a $1 trillion enterprise; fourth US company to achieve the feat

Asia equities extended a global rally on Tuesday, with the US decision to no longer designate China a currency manipulator a further sign of easing tensions between the economic titans.

The Treasury announcement came days before the two sides are due to sign off on the first part of a wider trade agreement that has helped fan a rally in world markets.

It also led to a sell-off in safe-haven assets with the yen at a seven-month low and gold down almost one per cent, while oil was also struggling with the <a href="https://www.wionews.com/opinions/wion-edit-us-iran-conflict-whats-next-273195">US-Iran</a> flare-up seemingly in the rear window for investors.

Asia was given a firm lead from Wall Street, where all three main indexes ended higher with the Nasdaq and S&amp;P 500 hitting fresh records on reports the US was about to remove the manipulator label from China.

<a href="https://www.wionews.com/business-economy/global-stocks-rattled-after-donald-trump-says-no-deadline-on-us-china-trade-deal-266025">Donald Trump</a> accused Beijing in August of weakening its yuan currency "to steal our business and factories", re-stating a long-standing grievance.&nbsp;

But soon after the end of trade on Monday, the Treasury said in its semi-annual report to Congress that the unit had strengthened and Beijing was no longer keeping it artificially weak.

The yuan jumped more than one per cent at one point Tuesday before easing slightly. The currency is up more than four per cent from an 11-year low touched in September.&nbsp;

"The yuan is the purest and best barometer to gauge the market's view on <a href="https://www.wionews.com/opinions/us-china-trade-conflict-lack-of-trust-hobbling-the-ability-to-reach-a-deal-198533">US-China</a> trade tension," said AxiTrader's Stephen Innes. "With the yuan strengthening ahead of the 'phase one' deal signing, it's indicating the potential for further improvement in trade relations."

The US reversal of China's status as a manipulator "is a most precise and definitive de-escalation of trade tension to date and provides a less congested road as we pivot to phase two of the broader trade agreement", he added.

<a href="https://www.wionews.com/sports/more-tokyo-olympic-events-rescheduled-due-to-heat-concern-266444">Tokyo</a> was among the biggest gainers, rising 0.7 per cent by the break as the dollar advanced against the yen owing to a rush out of safety giving a boost to Japan's exporters.

Hong Kong and Shanghai both gained 0.2 per cent, while Singapore put on 0.3 per cent and Seoul 0.7 per cent.

Sydney was up 0.6 per cent, Wellington and Taipei both gained 0.5 per cent and Jakarta put on 0.2 per cent.

Improving confidence also hit gold, which is a popular go-to asset in times of turmoil. The yellow metal last week broke $1,600 for the first time in seven years on the Iran crisis but the lowering of expectations for a conflict with the US has seen it tumble more than four per cent from its recent high.

The improving China-US outlook saw it drop by 0.9 per cent on Tuesday.

As well as Wednesday's signing, investors are also looking forward to corporate earnings season, which kicks off in earnest this week with the release of reports from top banks including Citibank, Goldman Sachs, and JP Morgan.

"Our expectation is a solid earnings season nothing extraordinary but nothing really terrible," Kristina Hooper, chief global market strategist at Invesco told Bloomberg TV.&nbsp;

"The environment is so accommodative that it really is supportive of risk assets, including equities, even if we have a lacklustre earnings season."

Asia equities extended a global rally on Tuesday, with the US decision to no longer designate China a currency manipulator a further sign of easing tensions between the economic titans.

Asia equities extended a global rally on Tuesday, with the US decision to no longer designate China a currency manipulator a further sign of easing tensions between the economic titans. The Treasury announcement came days before the two sides are due to sign off on the first part of a wider trade agreement that has helped fan a rally in world markets. It also led to a sell-off in safe-haven assets with the yen at a seven-month low and gold down almost one per cent, while oil was also struggling with the US-Iran flare-up seemingly in the rear window for investors. Asia was given a firm lead from Wall Street, where all three main indexes ended higher with the Nasdaq and S&P 500 hitting fresh records on reports the US was about to remove the manipulator label from China. Donald Trump accused Beijing in August of weakening its yuan currency "to steal our business and factories", re-stating a long-standing grievance. But soon after the end of trade on Monday, the Treasury said in its semi-annual report to Congress that the unit had strengthened and Beijing was no longer keeping it artificially weak. The yuan jumped more than one per cent at one point Tuesday before easing slightly. The currency is up more than four per cent from an 11-year low touched in September. "The yuan is the purest and best barometer to gauge the market's view on US-China trade tension," said AxiTrader's Stephen Innes. "With the yuan strengthening ahead of the 'phase one' deal signing, it's indicating the potential for further improvement in trade relations." The US reversal of China's status as a manipulator "is a most precise and definitive de-escalation of trade tension to date and provides a less congested road as we pivot to phase two of the broader trade agreement", he added. Tokyo was among the biggest gainers, rising 0.7 per cent by the break as the dollar advanced against the yen owing to a rush out of safety giving a boost to Japan's exporters. Hong Kong and Shanghai both gained 0.2 per cent, while Singapore put on 0.3 per cent and Seoul 0.7 per cent. Sydney was up 0.6 per cent, Wellington and Taipei both gained 0.5 per cent and Jakarta put on 0.2 per cent. Improving confidence also hit gold, which is a popular go-to asset in times of turmoil. The yellow metal last week broke $1,600 for the first time in seven years on the Iran crisis but the lowering of expectations for a conflict with the US has seen it tumble more than four per cent from its recent high. The improving China-US outlook saw it drop by 0.9 per cent on Tuesday. As well as Wednesday's signing, investors are also looking forward to corporate earnings season, which kicks off in earnest this week with the release of reports from top banks including Citibank, Goldman Sachs, and JP Morgan. "Our expectation is a solid earnings season nothing extraordinary but nothing really terrible," Kristina Hooper, chief global market strategist at Invesco told Bloomberg TV. "The environment is so accommodative that it really is supportive of risk assets, including equities, even if we have a lacklustre earnings season."

Asian markets, yuan rise as US-China tensions ease further

Asian shares rose to new 19-month highs on Monday ahead of the expected signing on <a href="https://www.wionews.com/world/details-of-us-china-deal-to-be-published-after-signing-white-house-273483">Phase One</a>&nbsp;China-US&nbsp;trade deal, although markets have yet to see the details of the agreement.

<a href="https://www.wionews.com/business-economy/nifty-sensex-headed-for-weekly-gain-as-mideast-tensions-ease-273346">MSCI's broadest index</a> of Asia-Pacific shares outside Japan was 0.47 per cent&nbsp;higher, touching its highest point since June 2018. Japanese markets were closed for a holiday.

South Korea's trade-sensitive Kospi added 0.73 per cent&nbsp;and Hong Kong's Hang Seng was up 0.74 per cent, while Taiwan shares added 0.6 per cent&nbsp;in the first trading day after Taiwanese re-elected President <a href="https://www.wionews.com/world/hong-kongs-strengths-as-global-financial-hub-intact-despite-protests-carrie-lam-273828">Tsai Ing-wen</a> by a landslide on Saturday.

Mainland Chinese shares lagged the regional index after China's major equity indexes logged their sixth consecutive weekly rise last week, the longest such streak since the first quarter of 2019.

The benchmark <a href="https://www.wionews.com/business-economy/sensex-jumps-634-points-as-us-iran-tensions-ease-auto-and-realty-stocks-gain-273229">Shanghai Composite Index</a> ended the morning session up just 0.06 per cent.

Investors in China are looking ahead to trade and economic growth data due this week, which is expected to shed more light on some early signs of economic improvement after the country logged its slowest pace of growth in nearly three decades in the third quarter.

Japan's <a href="https://www.wionews.com/business-economy/asian-shares-erase-losses-as-mideast-tensions-ease-oil-ticks-up-273093">Nikkei</a> was closed for a holiday. It fell sharply early last week when Iran attacked bases hosting US&nbsp;military in Iraq, only to rally almost a thousand points when the two countries stepped back from hostilities.

E-Mini futures for the <a href="https://www.wionews.com/business-economy/global-markets-stocks-march-back-to-record-highs-as-middle-east-tensions-ease-273438">S&amp;P 500</a> edged up 0.28 per cent, to be just off all-time highs.

The main event of the week will be the signing of the Phase One&nbsp;trade deal between the United States and China on Wednesday. The Trump administration has invited at least 200 people to the White House for the ceremony.

"A calmer geopolitical backdrop and the signing of the US‑China Phase One&nbsp;agreement is, on balance, favourable for global growth," said Joseph Capurso, an FX strategist at CBA.

"However, the 86-page Phase One&nbsp;<a href="https://www.wionews.com/world/chinas-vice-premier-liu-to-sign-us-trade-deal-next-week-in-washington-273242">agreement</a> has not yet been made public.&nbsp;There are doubts how comprehensive the deal is, and whether the Phase One&nbsp;agreement will be implemented in full by both governments."

Washington has reserved the right to reimpose tariffs if it judges China is not abiding by the deal.

"If there is any surprise from the Phase One&nbsp;deal&nbsp;that may actually cause some kind of volatility," said Tommy Xie, economist and head of greater China research at OCBC in Singapore.

"People are really focused on whether China is really committed to purchasing additional $200 billion in goods and services from the US&nbsp;over the next two years, there's not much commitment from China yet."

Xie said China's fourth-quarter and 2019 full-year GDP figures, due on Friday, are also likely to draw close scrutiny as investors look for signs that improvements seen in recent manufacturing surveys are reflected in broader growth and investment figures.

<a href="https://www.wionews.com/business-economy/sp-500-snaps-win-streak-as-middle-east-tensions-push-down-wall-street-272037">Wall Street</a> slipped and bonds rallied on Friday when data showed US&nbsp;nonfarm payrolls missed forecasts with a rise of 145,000, while wages and hours worked were soft.

"This is the perfect employment report for the Fed to continue to run the economy 'hot', as views on the natural rate of unemployment continue to drop," said Alan Ruskin, Deutsche Bank's global head of FX strategy. "This is perfect for risky assets."&nbsp;

On Monday, the euro gained 0.06 per cent&nbsp;to $1.1126, up from a $1.1083 low on Friday. Support comes in around $1.1060, while the recent peak at $1.1239 marks stiff resistance.

The dollar was firm on the yen at 109.61 but faces tough resistance around 109.70 where rallies have repeatedly failed in the past couple of months.

Against a basket of currencies, the dollar was stuck at 97.357, well within the recent trading range of 96.355 to 97.817.

The pound dipped 0.18 per cent&nbsp;to $1.3035 after <a href="https://www.wionews.com/business-economy/bank-of-england-sam-woods-warns-financial-sector-may-crackdown-273799">Bank of England</a> policymaker Gertjan Vlieghe said he will vote for a cut in interest rates later this month, barring an "imminent and significant" improvement in the growth data.

Spot gold slipped 0.37 per cent to $1,556.30 per ounce, having hit a seven-year top last week of $1,610.90 at the height of <a href="https://www.wionews.com/world/do-not-kill-your-protesters-us-president-trump-to-iranian-authorities-273818">Iran-US&nbsp;tensions</a>.

Oil prices were slightly firmer after suffering the first weekly loss since late November.&nbsp;

<a href="https://www.wionews.com/business-economy/oil-edges-above-65-as-middle-east-concerns-support-273441">Brent crude</a> futures were up 6 cents at $65.04 a barrel, while US&nbsp;crude added 10 cents to $59.14 a barrel.

Asian shares rose to new 19-month highs on Monday ahead of the expected signing on Phase One China-US trade deal, although markets have yet to see the details of the agreement.

Asian shares rose to new 19-month highs on Monday ahead of the expected signing on Phase One China-US trade deal, although markets have yet to see the details of the agreement. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.47 per cent higher, touching its highest point since June 2018. Japanese markets were closed for a holiday. South Korea's trade-sensitive Kospi added 0.73 per cent and Hong Kong's Hang Seng was up 0.74 per cent, while Taiwan shares added 0.6 per cent in the first trading day after Taiwanese re-elected President Tsai Ing-wen by a landslide on Saturday. Mainland Chinese shares lagged the regional index after China's major equity indexes logged their sixth consecutive weekly rise last week, the longest such streak since the first quarter of 2019. The benchmark Shanghai Composite Index ended the morning session up just 0.06 per cent. Investors in China are looking ahead to trade and economic growth data due this week, which is expected to shed more light on some early signs of economic improvement after the country logged its slowest pace of growth in nearly three decades in the third quarter. Japan's Nikkei was closed for a holiday. It fell sharply early last week when Iran attacked bases hosting US military in Iraq, only to rally almost a thousand points when the two countries stepped back from hostilities. E-Mini futures for the S&P 500 edged up 0.28 per cent, to be just off all-time highs. The main event of the week will be the signing of the Phase One trade deal between the United States and China on Wednesday. The Trump administration has invited at least 200 people to the White House for the ceremony. "A calmer geopolitical backdrop and the signing of the US‑China Phase One agreement is, on balance, favourable for global growth," said Joseph Capurso, an FX strategist at CBA. "However, the 86-page Phase One agreement has not yet been made public. There are doubts how comprehensive the deal is, and whether the Phase One agreement will be implemented in full by both governments." Washington has reserved the right to reimpose tariffs if it judges China is not abiding by the deal. "If there is any surprise from the Phase One deal that may actually cause some kind of volatility," said Tommy Xie, economist and head of greater China research at OCBC in Singapore. "People are really focused on whether China is really committed to purchasing additional $200 billion in goods and services from the US over the next two years, there's not much commitment from China yet." Xie said China's fourth-quarter and 2019 full-year GDP figures, due on Friday, are also likely to draw close scrutiny as investors look for signs that improvements seen in recent manufacturing surveys are reflected in broader growth and investment figures. Wall Street slipped and bonds rallied on Friday when data showed US nonfarm payrolls missed forecasts with a rise of 145,000, while wages and hours worked were soft. "This is the perfect employment report for the Fed to continue to run the economy 'hot', as views on the natural rate of unemployment continue to drop," said Alan Ruskin, Deutsche Bank's global head of FX strategy. "This is perfect for risky assets." On Monday, the euro gained 0.06 per cent to $1.1126, up from a $1.1083 low on Friday. Support comes in around $1.1060, while the recent peak at $1.1239 marks stiff resistance. The dollar was firm on the yen at 109.61 but faces tough resistance around 109.70 where rallies have repeatedly failed in the past couple of months. Against a basket of currencies, the dollar was stuck at 97.357, well within the recent trading range of 96.355 to 97.817. The pound dipped 0.18 per cent to $1.3035 after Bank of England policymaker Gertjan Vlieghe said he will vote for a cut in interest rates later this month, barring an "imminent and significant" improvement in the growth data. Spot gold slipped 0.37 per cent to $1,556.30 per ounce, having hit a seven-year top last week of $1,610.90 at the height of Iran-US tensions. Oil prices were slightly firmer after suffering the first weekly loss since late November. Brent crude futures were up 6 cents at $65.04 a barrel, while US crude added 10 cents to $59.14 a barrel.

Asian shares rise ahead of US-China 'phase one' trade deal

Wall&nbsp;Street's major indexes fell from record highs on Friday after a <a href="https://www.wionews.com/world/trump-impeachment-row-us-senate-in-stalemate-over-how-to-proceed-272003">US&nbsp;airstrike</a> in Iraq ratcheted up&nbsp;tensions&nbsp;in the&nbsp;Middle&nbsp;East&nbsp;and a bigger-than-expected contraction in the US&nbsp;manufacturing sector raised concerns of slowing economic growth.

Friday's decline put the benchmark <a href="https://www.wionews.com/business-economy/indian-shares-slip-as-oil-jumps-after-us-air-strikes-in-middle-east-271832">S&amp;P&nbsp;500</a>&nbsp;in the red for the week, snapping a five-week&nbsp;winning&nbsp;streak&nbsp;for the index.

Demand for <a href="https://www.wionews.com/business-economy/global-markets-oil-gold-safe-haven-assets-gains-as-us-strike-kills-iranian-commander-271901">safe-haven assets</a> soared as Iran vowed revenge for the killing of Qassem Soleimani, head of its elite Quds Force, in an airstrike authorized by US&nbsp;President Donald Trump.

In a further blow to US&nbsp;market sentiment, data from the Institute for Supply Management showed that US&nbsp;factory activity contracted in December by the most in more than a decade.

"There was a reinforcement of weak manufacturing activity and then you had the geopolitical spark," said Michael Antonelli, market strategist at Robert W. Baird in Milwaukee. "That's on top of the sentiment that the market has been overbought."

S&amp;P&nbsp;500&nbsp;bank stocks dropped 1.6 per cent&nbsp;as the news sent benchmark US&nbsp;bond yields&nbsp;to their lowest since December&nbsp;12.

Shares of airlines also tumbled as oil prices jumped about 3 per cent. American Airlines Group Inc&nbsp;shares dropped 5.0 per cent, while shares of United Airlines Holdings Inc fell 2.1 per cent.

Among the S&amp;P&nbsp;500's 11 major sectors, only real estate and utilities both considered defensive plays, ended higher.

In a sign of investor jitters, US&nbsp;stocks extended their fall following a false report of an attack on a US&nbsp;military base in Iraq.

Shares of US&nbsp;defence companies jumped on news of the airstrike that killed <a href="https://www.wionews.com/world/soleimani-contributed-to-plotting-terror-attacks-in-new-delhi-london-trump-272027">Soleimani</a>. Northrop Grumman Corp&nbsp;shares climbed 5.4 per cent&nbsp;and Lockheed Martin Corp&nbsp;shares rose 3.6 per cent. The two provided the biggest boosts to the S&amp;P&nbsp;500.

The market disturbance following the strike could be fleeting, said Wayne Wicker, a chief investment officer of Vantagepoint Investment Advisers in Washington.

"We've looked at many types of conflicts over the last 20 years, and they've had much more of a short-term impact," Wicker said.

The Dow Jones Industrial Average fell 233.92 points, or 0.81 per cent, to 28,634.88. The S&amp;P&nbsp;500 lost 23 points, or 0.71 per cent, to 3,234.85. The Nasdaq Composite&nbsp;dropped 71.42 points, or 0.79 per cent, to 9,020.77.

For the week, the Dow dipped 0.04 per cent, the S&amp;P&nbsp;500&nbsp;fell 0.17 per cent, and the Nasdaq rose 0.16 per cent.

Among advancers, Tesla Inc&nbsp;shares hit a record high and ended up 3.0 per cent&nbsp;after the automaker beat estimates for vehicle deliveries in the fourth quarter.

Lamb Weston Holdings Inc shares surged 11.3 per cent, the biggest percentage gain on the S&amp;P&nbsp;500, after the frozen foods supplier's quarterly results surpassed estimates.

Shares of retailer L Brands Inc&nbsp;rose 7.8 per cent&nbsp;after Bank of America upgraded its rating on the company's stock.

Declining issues outnumbered advancing ones on the <a href="https://www.wionews.com/business-economy/world-stocks-hit-all-time-high-after-trump-tweets-close-to-china-deal-267973">NYSE</a> by a 1.14-to-1 ratio. On Nasdaq, a 1.71-to-1 ratio favoured decliners.

The S&amp;P&nbsp;500&nbsp;posted 22 new 52-week highs and one new low. The Nasdaq Composite recorded 60 new highs and 15 new lows.

Volume on US&nbsp;exchanges was 7.47 billion shares, compared to the 6.87 billion average for the full session over the last 20 trading days.

Wall Street's major indexes fell from record highs on Friday after a US airstrike in Iraq ratcheted up tensions in the Middle East and a bigger-than-expected contraction in the US manufacturing sector raised concerns of slowing economic growth.

Wall Street's major indexes fell from record highs on Friday after a US airstrike in Iraq ratcheted up tensions in the Middle East and a bigger-than-expected contraction in the US manufacturing sector raised concerns of slowing economic growth. Friday's decline put the benchmark S&P 500 in the red for the week, snapping a five-week winning streak for the index. Demand for safe-haven assets soared as Iran vowed revenge for the killing of Qassem Soleimani, head of its elite Quds Force, in an airstrike authorized by US President Donald Trump. In a further blow to US market sentiment, data from the Institute for Supply Management showed that US factory activity contracted in December by the most in more than a decade. "There was a reinforcement of weak manufacturing activity and then you had the geopolitical spark," said Michael Antonelli, market strategist at Robert W. Baird in Milwaukee. "That's on top of the sentiment that the market has been overbought." S&P 500 bank stocks dropped 1.6 per cent as the news sent benchmark US bond yields to their lowest since December 12. Shares of airlines also tumbled as oil prices jumped about 3 per cent. American Airlines Group Inc shares dropped 5.0 per cent, while shares of United Airlines Holdings Inc fell 2.1 per cent. Among the S&P 500's 11 major sectors, only real estate and utilities both considered defensive plays, ended higher. In a sign of investor jitters, US stocks extended their fall following a false report of an attack on a US military base in Iraq. Shares of US defence companies jumped on news of the airstrike that killed Soleimani. Northrop Grumman Corp shares climbed 5.4 per cent and Lockheed Martin Corp shares rose 3.6 per cent. The two provided the biggest boosts to the S&P 500. The market disturbance following the strike could be fleeting, said Wayne Wicker, a chief investment officer of Vantagepoint Investment Advisers in Washington. "We've looked at many types of conflicts over the last 20 years, and they've had much more of a short-term impact," Wicker said. The Dow Jones Industrial Average fell 233.92 points, or 0.81 per cent, to 28,634.88. The S&P 500 lost 23 points, or 0.71 per cent, to 3,234.85. The Nasdaq Composite dropped 71.42 points, or 0.79 per cent, to 9,020.77. For the week, the Dow dipped 0.04 per cent, the S&P 500 fell 0.17 per cent, and the Nasdaq rose 0.16 per cent. Among advancers, Tesla Inc shares hit a record high and ended up 3.0 per cent after the automaker beat estimates for vehicle deliveries in the fourth quarter. Lamb Weston Holdings Inc shares surged 11.3 per cent, the biggest percentage gain on the S&P 500, after the frozen foods supplier's quarterly results surpassed estimates. Shares of retailer L Brands Inc rose 7.8 per cent after Bank of America upgraded its rating on the company's stock. Declining issues outnumbered advancing ones on the NYSE by a 1.14-to-1 ratio. On Nasdaq, a 1.71-to-1 ratio favoured decliners. The S&P 500 posted 22 new 52-week highs and one new low. The Nasdaq Composite recorded 60 new highs and 15 new lows. Volume on US exchanges was 7.47 billion shares, compared to the 6.87 billion average for the full session over the last 20 trading days.

S&P 500 snaps win streak as Middle East tensions push down Wall Street

The stock market looks set to end 2019 the way it began the year -- highly sensitive to headlines from President Donald Trump's global trade war.

Stocks pulled back from record highs to start December, undermined by comments from Trump and others in his administration suggesting any deal to resolve the trade dispute between the United States and China would not come soon. But the market rebounded at the end of the week on Friday's strong US jobs and a change in tone from Trump.

Wall Street could see more volatility ahead of December 15, when the next tranche of US tariffs on Chinese imports is set to take effect.

At the start of the week, investors said equity prices were factoring in that those tariffs would be delayed if not cancelled as Beijing and Washington work on a "phase one" trade deal. But subsequent tough talk from Trump officials has shaken those expectations somewhat.

"Until we get some finality on this, the day-to-day is going to move on headlines that suggest progress or lack thereof,” said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta.

While the dispute between the world's two largest economies commands the spotlight, other trade issues also have drawn investor attention. They include a recent delay in ratification of the North American Trade pact, potential US tariffs on imported autos and Trump's issuing surprise levies on steel imports from Brazil and Argentina.

Optimism over a US-China truce has helped push the major Wall Street indexes to all-time highs recently, with the benchmark S&amp;P 500 &lt;.SPX&gt; logging a gain of more than 20 per cent&nbsp;so far in 2019. But as the latest swings show, lack of a resolution to a trade dispute that has lasted nearly two years continues to weigh on the market.

“The problem is the uncertainty that the trade war process has on business decisions," said Art Hogan, chief market strategist at National Securities in New York. "Without some sort of short-term truce, company spending gets frozen and that’s where it affects the economy and the market."

The tariffs on $156 billion in Chinese imports that could take effect Dec. 15 are largely on consumer goods, including cellphones, laptop and desktop computers, toys and clothing.

UBS economists estimate those tariffs would drag on US gross domestic product by either 0.1 per cent&nbsp;or 0.2 per cent&nbsp;in each of the four quarters next year. UBS projects overall GDP growth to average 1.1 per cent&nbsp;in 2020, with tariffs generally weighing heavily in the first half of the year.

Aside from the fallout from the tariffs themselves, "the next read from them going into effect is that trade discussions are not going well," said Walter Todd, chief investment officer with Greenwood Capital in South Carolina.

Political tensions over US support for protesters in Hong Kong and over Beijing's treatment of its Uighur Muslim minority have also raised concerns about the prospects for an initial trade deal.

“Without a phase one plan on getting something signed early in the new year, I think the market is susceptible for a pullback," said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC.

The focus will remain on trade into next week, even as the Federal Reserve holds its last meeting of 2019, with the US central bank expected to keep interest rates steady after three cuts earlier in the year.

"The Fed chairman pretty much outlined that the bar is very high to raise rates," SunTrust's Lerner said.

However, he added, if some of the tariffs result in a sharp slowdown, "the Fed would have to act eventually" by cutting rates.

Investors will also be looking for signs of strength in the holiday shopping season, given that consumer spending is seen as a key pillar holding up overall economic growth.

There is a strong incentive to push off the tariffs "as long as people are at the negotiating table," said Carol Schleif, deputy chief investment officer at Abbot Downing in Minneapolis.

"President Trump definitely doesn’t want a downbeat consumer going into the election cycle,” she said.

The stock market looks set to end 2019 the way it began the year -- highly sensitive to headlines from President Donald Trump's global trade war. Stocks pulled back from record highs to start December, undermined by comments from Trump and others in his administration suggesting any deal to resolve the trade dispute between the United States and China would not come soon.

The stock market looks set to end 2019 the way it began the year -- highly sensitive to headlines from President Donald Trump's global trade war. Stocks pulled back from record highs to start December, undermined by comments from Trump and others in his administration suggesting any deal to resolve the trade dispute between the United States and China would not come soon. But the market rebounded at the end of the week on Friday's strong US jobs and a change in tone from Trump. Wall Street could see more volatility ahead of December 15, when the next tranche of US tariffs on Chinese imports is set to take effect. At the start of the week, investors said equity prices were factoring in that those tariffs would be delayed if not cancelled as Beijing and Washington work on a "phase one" trade deal. But subsequent tough talk from Trump officials has shaken those expectations somewhat. "Until we get some finality on this, the day-to-day is going to move on headlines that suggest progress or lack thereof,” said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta. While the dispute between the world's two largest economies commands the spotlight, other trade issues also have drawn investor attention. They include a recent delay in ratification of the North American Trade pact, potential US tariffs on imported autos and Trump's issuing surprise levies on steel imports from Brazil and Argentina. Optimism over a US-China truce has helped push the major Wall Street indexes to all-time highs recently, with the benchmark S&P 500 <.SPX> logging a gain of more than 20 per cent so far in 2019. But as the latest swings show, lack of a resolution to a trade dispute that has lasted nearly two years continues to weigh on the market. “The problem is the uncertainty that the trade war process has on business decisions," said Art Hogan, chief market strategist at National Securities in New York. "Without some sort of short-term truce, company spending gets frozen and that’s where it affects the economy and the market." The tariffs on $156 billion in Chinese imports that could take effect Dec. 15 are largely on consumer goods, including cellphones, laptop and desktop computers, toys and clothing. UBS economists estimate those tariffs would drag on US gross domestic product by either 0.1 per cent or 0.2 per cent in each of the four quarters next year. UBS projects overall GDP growth to average 1.1 per cent in 2020, with tariffs generally weighing heavily in the first half of the year. Aside from the fallout from the tariffs themselves, "the next read from them going into effect is that trade discussions are not going well," said Walter Todd, chief investment officer with Greenwood Capital in South Carolina. Political tensions over US support for protesters in Hong Kong and over Beijing's treatment of its Uighur Muslim minority have also raised concerns about the prospects for an initial trade deal. “Without a phase one plan on getting something signed early in the new year, I think the market is susceptible for a pullback," said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC. The focus will remain on trade into next week, even as the Federal Reserve holds its last meeting of 2019, with the US central bank expected to keep interest rates steady after three cuts earlier in the year. "The Fed chairman pretty much outlined that the bar is very high to raise rates," SunTrust's Lerner said. However, he added, if some of the tariffs result in a sharp slowdown, "the Fed would have to act eventually" by cutting rates. Investors will also be looking for signs of strength in the holiday shopping season, given that consumer spending is seen as a key pillar holding up overall economic growth. There is a strong incentive to push off the tariffs "as long as people are at the negotiating table," said Carol Schleif, deputy chief investment officer at Abbot Downing in Minneapolis. "President Trump definitely doesn’t want a downbeat consumer going into the election cycle,” she said.

Wall Street week ahead: Tariff deadline keeps focus on trade as 2019 draws to close

France will be "pugnacious" over the latest US tariff threats on French products and will not go back on its digital tax plan, junior economy minister Agnes Pannier-Runacher said on Tuesday.

On Monday, the US government said it may slap punitive duties of up to 100% on $2.4 billion of imports from France of champagne, handbags, cheese and other products, after concluding that France's new digital services tax would harm US tech companies.

"It is very clear that we do not need to go back on this, with regards to a topic that economically speaking makes sense," Pannier-Runacher told Sud Radio, referring to the digital tax.

"We need to be pugnacious on the subject," she added.&nbsp;

France will be "pugnacious" over the latest US tariff threats on French products and will not go back on its digital tax plan, junior economy minister Agnes Pannier-Runacher said on Tuesday.

France will be "pugnacious" over the latest US tariff threats on French products and will not go back on its digital tax plan, junior economy minister Agnes Pannier-Runacher said on Tuesday. On Monday, the US government said it may slap punitive duties of up to 100% on $2.4 billion of imports from France of champagne, handbags, cheese and other products, after concluding that France's new digital services tax would harm US tech companies. "It is very clear that we do not need to go back on this, with regards to a topic that economically speaking makes sense," Pannier-Runacher told Sud Radio, referring to the digital tax. "We need to be pugnacious on the subject," she added.

France will be 'pugnacious' over new US tariff threat: Minister

Wall Street stocks dipped early Monday after US President Donald Trump announced tariff actions on <a href="https://www.wionews.com/world/effective-immediately-us-to-restore-steel-aluminum-tariffs-on-brazil-argentina-trump-265754">Brazil and Argentina </a>and China retaliated for a US bill supporting protesters in Hong Kong.

Trump said he was reinstating tariffs on steel and aluminium from the South American countries due to a devaluation of their currencies. The United States had previously exempted some countries, including Argentina and Brazil, which agreed to quotas on the metals.

Meanwhile, China suspended US warship visits and sanctioned American NGOs after Trump signed into law a congressional measure supporting pro-democracy protesters in Hong Kong.

Some analysts rated the Chinese measures as mostly symbolic but said they were potentially important in light of ongoing trade talks between Washington and Beijing.

About 15 minutes into trading, the Dow Jones Industrial Average stood at 28,038.17, down 0.1 per cent.

The broad-based S&amp;P 500 dropped 0.2 per cent to 3,135.43, while the tech-rich Nasdaq Composite Index shed 0.4 per cent to 8,633.53.

US stocks are still within shouting distance of all-time highs following records last week that were fed by optimism over the US-China trade talks, upbeat expectations for the holiday shopping season and moves by the Federal Reserve to cut interest rates and loosen monetary policy.

Key events this week include updates on the manufacturing and services sector, as well as the November jobs report.

Wall Street stocks dipped early Monday after US President Donald Trump announced tariff actions on Brazil and Argentina and China retaliated for a US bill supporting protesters in Hong Kong.

Wall Street stocks dipped early Monday after US President Donald Trump announced tariff actions on Brazil and Argentina and China retaliated for a US bill supporting protesters in Hong Kong. Trump said he was reinstating tariffs on steel and aluminium from the South American countries due to a devaluation of their currencies. The United States had previously exempted some countries, including Argentina and Brazil, which agreed to quotas on the metals. Meanwhile, China suspended US warship visits and sanctioned American NGOs after Trump signed into law a congressional measure supporting pro-democracy protesters in Hong Kong. Some analysts rated the Chinese measures as mostly symbolic but said they were potentially important in light of ongoing trade talks between Washington and Beijing. About 15 minutes into trading, the Dow Jones Industrial Average stood at 28,038.17, down 0.1 per cent. The broad-based S&P 500 dropped 0.2 per cent to 3,135.43, while the tech-rich Nasdaq Composite Index shed 0.4 per cent to 8,633.53. US stocks are still within shouting distance of all-time highs following records last week that were fed by optimism over the US-China trade talks, upbeat expectations for the holiday shopping season and moves by the Federal Reserve to cut interest rates and loosen monetary policy. Key events this week include updates on the manufacturing and services sector, as well as the November jobs report.

Wall Street stocks dip over US tariff action on Brazil, Argentina; China retaliation on US bill

US stocks slipped on Friday in a post-holiday shortened session as a US-China discord over Hong Kong reignited trade tensions and retail stocks dipped on signs of a tepid start to in-store Black Friday sales.

China on Thursday threatened to retaliate against a US law backing pro-democracy protesters in Hong Kong. The measures could include barring drafters of the legislation from mainland China, Hong Kong and Macau, the editor of China's state-backed Global Times tabloid said in a tweet.

The trade-sensitive Philadelphia Semiconductor index fell as much as 0.8 per cent and was on track for its worst day in a week.

The diplomatic clash also knocked Wall Street's main indexes off record highs. They had closed at all-time highs in every session so far this week on upbeat domestic data and hopes of an imminent "phase one" trade deal.

"The fact that this is a half-day with the markets being at all-time highs is a reason to give investors a bit of a pause," said Robert Pavlik, chief investment strategist, at SlateStone Wealth LLC in New York.

The sentiment was also dulled by reports of spot checks on retailers around the country, which showed fewer people lining up outside stores at the start of Black Friday, suggesting a surge in online buying may have taken the shine off America's biggest shopping day.

The S&amp;P 500 retail sector fell 0.7 per cent, with Kohl's Corp dropping 2.3 per cent. But top retailers Walmart Inc and Best Buy Co Inc were up between 0.3% and 0.7%.

At 11:48 a.m. ET the Dow Jones Industrial Average was down 95.45 points, or 0.34 per cent, at 28,068.55, while the S&amp;P 500 was down 8.63 points, or 0.27per cent, at 3,145. The Nasdaq Composite was down 21.73 points, or 0.25%, at 8,683.45.

Shares of Tech Data Corp jumped 12.3 per cent&nbsp;as private equity firm Apollo Global Management raised its bid for the US information technology equipment distributor to about $5.14 billion.

Declining issues outnumbered advancers for a 1.58-to-1 ratio on the NYSE and for a 1.18-to-1 ratio on the Nasdaq. The S&amp;P index recorded 15 new 52-week highs and one new low, while the Nasdaq recorded 66 new highs and 26 new lows.

US stocks slipped on Friday in a post-holiday shortened session as a US-China discord over Hong Kong reignited trade tensions and retail stocks dipped on signs of a tepid start to in-store Black Friday sales.

US stocks slipped on Friday in a post-holiday shortened session as a US-China discord over Hong Kong reignited trade tensions and retail stocks dipped on signs of a tepid start to in-store Black Friday sales. China on Thursday threatened to retaliate against a US law backing pro-democracy protesters in Hong Kong. The measures could include barring drafters of the legislation from mainland China, Hong Kong and Macau, the editor of China's state-backed Global Times tabloid said in a tweet. The trade-sensitive Philadelphia Semiconductor index fell as much as 0.8 per cent and was on track for its worst day in a week. The diplomatic clash also knocked Wall Street's main indexes off record highs. They had closed at all-time highs in every session so far this week on upbeat domestic data and hopes of an imminent "phase one" trade deal. "The fact that this is a half-day with the markets being at all-time highs is a reason to give investors a bit of a pause," said Robert Pavlik, chief investment strategist, at SlateStone Wealth LLC in New York. The sentiment was also dulled by reports of spot checks on retailers around the country, which showed fewer people lining up outside stores at the start of Black Friday, suggesting a surge in online buying may have taken the shine off America's biggest shopping day. The S&P 500 retail sector fell 0.7 per cent, with Kohl's Corp dropping 2.3 per cent. But top retailers Walmart Inc and Best Buy Co Inc were up between 0.3% and 0.7%. At 11:48 a.m. ET the Dow Jones Industrial Average was down 95.45 points, or 0.34 per cent, at 28,068.55, while the S&P 500 was down 8.63 points, or 0.27per cent, at 3,145. The Nasdaq Composite was down 21.73 points, or 0.25%, at 8,683.45. Shares of Tech Data Corp jumped 12.3 per cent as private equity firm Apollo Global Management raised its bid for the US information technology equipment distributor to about $5.14 billion. Declining issues outnumbered advancers for a 1.58-to-1 ratio on the NYSE and for a 1.18-to-1 ratio on the Nasdaq. The S&P index recorded 15 new 52-week highs and one new low, while the Nasdaq recorded 66 new highs and 26 new lows.

Wall Street slips as US law on Hong Kong brings back trade fears

<a href="https://www.wionews.com/business-economy/tesla-suffer-mishap-during-launch-of-electric-cybertruck-263848">Tesla Inc</a> Chief Executive Officer Elon Musk<a> </a>indicated in a tweet on Sunday that the electric carmaker received 200,000 orders for its electric pickup truck within three days of its launch.

<a href="https://www.wionews.com/business-economy/tesla-cybertruck-orders-near-150000-just-days-after-chaotic-lau">Musk</a>, who has been regularly tweeting about the Cybertruck's features since its launch late Thursday, has also been updating his followers with the number of orders the company has received.

<div class="ui-state-default" contenteditable="false">
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200k
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1198788116372344832?ref_src=twsrc%5Etfw">November 25, 2019</a></blockquote>
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In an earlier tweet, Musk said the company had received 146,000 orders for <a href="https://www.wionews.com/videos/built-for-bullets-smashed-by-a-ball-look-at-tesla-cybertrucks-epic-fail-moment-263864">Cybertruck</a> and tweeted again on Sunday saying "200K" - an apparent reference to the number of orders.

Watch Video:

<div class="videoWrapper trancodeVideo"><iframe src="http://13.235.153.162/videos/built-for-bullets-smashed-by-a-ball-look-at-tesla-cybertrucks-epic-fail-moment-263864/embed" width="560" height="350" style="width:100%;max-width:560px;" class="includeVideo" frameborder="0" autoplay=1 allowfullscreen></iframe></div>

The company's website shows that an immediate payment of $100 is required to reserve an order for the Cybertruck, which has a starting price of $39,900.

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Cybertruck is our last product unveil for a while, but there will be some (mostly) unexpected technology announcements next year
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1198723473708699648?ref_src=twsrc%5Etfw">November 24, 2019</a></blockquote>
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The launch of its futuristic pickup on Thursday suffered a setback when the electric vehicle's "armored glass" windows shattered in a much-anticipated unveiling. The overall look of the electric vehicle had worried Wall Street on Friday, driving the automaker's shares to close 6.1 per cent&nbsp;lower.

During the launch, Musk had taken aim at the design, power, and durability of mainstream trucks, only to be shaken when he boasts about his new vehicle's windows backfired.

Separately, Musk said the Cybertruck is Tesla's last product unveil for a while.

Tesla plans to start manufacturing the Cybertruck around late-2021.

Tesla Inc Chief Executive Officer Elon Musk indicated in a tweet on Sunday that the electric carmaker received 200,000 orders for its electric pickup truck within three days of its launch.

Tesla Inc Chief Executive Officer Elon Musk indicated in a tweet on Sunday that the electric carmaker received 200,000 orders for its electric pickup truck within three days of its launch. Musk, who has been regularly tweeting about the Cybertruck's features since its launch late Thursday, has also been updating his followers with the number of orders the company has received. 200k — Elon Musk (@elonmusk) November 25, 2019 × In an earlier tweet, Musk said the company had received 146,000 orders for Cybertruck and tweeted again on Sunday saying "200K" - an apparent reference to the number of orders. Watch Video: The company's website shows that an immediate payment of $100 is required to reserve an order for the Cybertruck, which has a starting price of $39,900. Cybertruck is our last product unveil for a while, but there will be some (mostly) unexpected technology announcements next year — Elon Musk (@elonmusk) November 24, 2019 × The launch of its futuristic pickup on Thursday suffered a setback when the electric vehicle's "armored glass" windows shattered in a much-anticipated unveiling. The overall look of the electric vehicle had worried Wall Street on Friday, driving the automaker's shares to close 6.1 per cent lower. During the launch, Musk had taken aim at the design, power, and durability of mainstream trucks, only to be shaken when he boasts about his new vehicle's windows backfired. Separately, Musk said the Cybertruck is Tesla's last product unveil for a while. Tesla plans to start manufacturing the Cybertruck around late-2021.

Musk indicates Tesla has 200,000 orders for Cybertruck

Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world's two biggest economies and upbeat domestic economic data helped to ease investor worries.

US&nbsp;President <a href="https://www.wionews.com/world/frustrated-trump-lashes-out-at-impeachment-probe-263974">Donald Trump</a> told Fox News a trade deal was "potentially very close" following <a href="https://www.wionews.com/world/want-to-work-out-preliminary-trade-deal-with-united-states-not-afraid-of-retaliating-chinese-president-jinping-263827">remarks by President Xi Jinping</a> that Beijing wanted to work out an initial agreement.

The S&amp;P 500 and the Dow showed their biggest daily gains in a lacklustre week marked by uncertainty, with a report suggesting the delay of a trade truce to 2020 and US&nbsp;lawmakers passing two bills <a href="https://www.wionews.com/world/hong-kong-would-be-obliterated-in-14-minutes-if-not-for-me-donald-trump-263961">supporting protesters in Hong Kong</a>, which could complicate US-China talks.

Strategists said it helped that Trump was vague on Friday about whether he would sign or veto the bills.

Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, attributed Friday's gains to strong US&nbsp;manufacturing data as well as the improving mood on trade. He said investors were cautious about the apparent trade progress, however.

“President Trump saying it's close is news we’ve heard before. How close is close? Close but not quite or close but I could change my mind?" he said. "That’s what’s keeping the market on its heels at the moment, keeping the move a little bit more timid.”

Manufacturing output accelerated in November to its fastest pace in seven months and services activity picked up more than expected.

The Dow Jones Industrial Average&nbsp;rose 109.33 points, or 0.39 per cent, to 27,875.62, the S&amp;P 500&nbsp;gained 6.75 points, or 0.22 per cent, to 3,110.29 and the Nasdaq Composite&nbsp;added 13.67 points, or 0.16 per cent, to 8,519.89.

Still, the S&amp;P snapped its six-week winning streak, while the tech-heavy Nasdaq registered its first weekly drop in eight weeks and the Dow showed a weekly loss after four weeks of gains. A largely better-than-expected third-quarter corporate earnings season contributed to recent rallies.

Seven of the 11 major S&amp;P 500 sectors closed higher, led by a 0.76 per cent&nbsp;gain in financials&nbsp;and a 0.65 per cent&nbsp;rise in consumer discretionary.

Nordstrom Inc&nbsp;rose 10.6 per cent&nbsp;after the retailer raised its 2019 forecast and reported third-quarter profit above expectations. Gap Inc&nbsp;shares rose 4.4 per cent&nbsp;as the retailer beat lowered quarterly profit estimates days after it cut its annual forecast and replaced its longtime chief executive officer.

Shares of Tesla Inc&nbsp;fell 6 per cent&nbsp;as Wall Street questioned the look of its newly unveiled electric pickup truck, whose "armored glass" windows<a href="https://www.wionews.com/business-economy/tesla-suffer-mishap-during-launch-of-electric-cybertruck-263848"> shattered in a demonstration</a>.

Intuit Inc&nbsp;dropped 4.2 per cent&nbsp;after the income-tax filing software maker forecast second-quarter profit below estimates.

Advancing issues outnumbered declining ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favoured advancers.

The S&amp;P 500 posted 17 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 60 new highs and 84 new lows.

On US&nbsp;exchanges, 5.96 billion shares changed hands compared with the 7.03 billion average for the last 20 sessions.

Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world's two biggest economies and upbeat domestic economic data helped to ease investor worries.

Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world's two biggest economies and upbeat domestic economic data helped to ease investor worries. US President Donald Trump told Fox News a trade deal was "potentially very close" following remarks by President Xi Jinping that Beijing wanted to work out an initial agreement. The S&P 500 and the Dow showed their biggest daily gains in a lacklustre week marked by uncertainty, with a report suggesting the delay of a trade truce to 2020 and US lawmakers passing two bills supporting protesters in Hong Kong, which could complicate US-China talks. Strategists said it helped that Trump was vague on Friday about whether he would sign or veto the bills. Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, attributed Friday's gains to strong US manufacturing data as well as the improving mood on trade. He said investors were cautious about the apparent trade progress, however. “President Trump saying it's close is news we’ve heard before. How close is close? Close but not quite or close but I could change my mind?" he said. "That’s what’s keeping the market on its heels at the moment, keeping the move a little bit more timid.” Manufacturing output accelerated in November to its fastest pace in seven months and services activity picked up more than expected. The Dow Jones Industrial Average rose 109.33 points, or 0.39 per cent, to 27,875.62, the S&P 500 gained 6.75 points, or 0.22 per cent, to 3,110.29 and the Nasdaq Composite added 13.67 points, or 0.16 per cent, to 8,519.89. Still, the S&P snapped its six-week winning streak, while the tech-heavy Nasdaq registered its first weekly drop in eight weeks and the Dow showed a weekly loss after four weeks of gains. A largely better-than-expected third-quarter corporate earnings season contributed to recent rallies. Seven of the 11 major S&P 500 sectors closed higher, led by a 0.76 per cent gain in financials and a 0.65 per cent rise in consumer discretionary. Nordstrom Inc rose 10.6 per cent after the retailer raised its 2019 forecast and reported third-quarter profit above expectations. Gap Inc shares rose 4.4 per cent as the retailer beat lowered quarterly profit estimates days after it cut its annual forecast and replaced its longtime chief executive officer. Shares of Tesla Inc fell 6 per cent as Wall Street questioned the look of its newly unveiled electric pickup truck, whose "armored glass" windows shattered in a demonstration. Intuit Inc dropped 4.2 per cent after the income-tax filing software maker forecast second-quarter profit below estimates. Advancing issues outnumbered declining ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favoured advancers. The S&P 500 posted 17 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 60 new highs and 84 new lows. On US exchanges, 5.96 billion shares changed hands compared with the 7.03 billion average for the last 20 sessions.

Wall Street rises with US-China trade mood, upbeat economic data

Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of US-China trade tensions and by big gains in shares of healthcare companies.

The benchmark S&amp;P 500 tallied its sixth straight week of gains, its longest such weekly streak in about two years, while the Dow breached 28,000 for the first time.

White House economic adviser Larry Kudlow said late on Thursday that the United States and China are getting close to a trade agreement, citing what he called very constructive talks with Beijing.

“Today is definitely about optimism surrounding the trade tensions,” said Jason Pride, chief investment officer of private wealth at Glenmede in Philadelphia.

The stock market has climbed recently to record highs, driven by Federal Reserve interest rate cuts, third-quarter earnings topping low expectations and signs that economic growth may be bottoming, while uncertainty over US-China trade relations remains a wild card.

"It’s definitely been a big source of volatility over a fairly long period of time for the markets and stocks in general," Pride said. "To see some sort of resolution of it would probably be a lift to investors and to equity holders because it takes away a big piece of uncertainty in many investors’, and even corporate executives’, minds.”

The Dow Jones Industrial Average&nbsp;rose 222.93 points, or 0.8 per cent, to 28,004.89, the S&amp;P 500&nbsp;gained 23.83 points, or 0.77 per cent, to 3,120.46 and the Nasdaq Composite&nbsp;added 61.81 points, or 0.73 per cent, to 8,540.83.

Ten of 11 S&amp;P 500 sectors ended positive. Healthcare&nbsp;led the way, gaining 2.2 per cent&nbsp;for its biggest one-day percentage rise since January, with UnitedHealth Group&nbsp;shares surging 5.3 per cent&nbsp;and Pfizer&nbsp;rising 2.0 per cent.

The gains came as President Donald Trump made an announcement on healthcare price transparency. Regulatory and election risks have contributed to the healthcare sector's underperformance in 2019, said Walter Todd, chief investment officer at Greenwood Capital in South Carolina, noting that perhaps Friday's gains were "a catch-up trade."

Shares of Applied Materials soared 9.0 per cent&nbsp;after the chip gear maker forecast first-quarter revenue and profit above Wall Street estimates.

The Philadelphia SE Semiconductor index&nbsp;gained 0.9 per cent&nbsp;and hit a record high. Enthusiasm for the group was tempered by a 2.7 per cent decline in Nvidia shares following the chipmaker's report.

Data on Friday showed US&nbsp;retail sales rebounded in October, but consumers cut back on purchases of big-ticket household items and clothing, which could temper expectations for a strong holiday shopping season.

Advancing issues outnumbered declining ones on the NYSE by a 1.84-to-1 ratio; on Nasdaq, a 1.50-to-1 ratio favoured advancers.

The S&amp;P 500 posted 52 new 52-week highs and one new low; the Nasdaq Composite recorded 121 new highs and 108 new lows.

About 6.5 billion shares changed hands in US&nbsp;exchanges, below the 6.9 billion-share daily average over the last 20 sessions.

Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of US-China trade tensions and by big gains in shares of healthcare companies.

Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of US-China trade tensions and by big gains in shares of healthcare companies. The benchmark S&P 500 tallied its sixth straight week of gains, its longest such weekly streak in about two years, while the Dow breached 28,000 for the first time. White House economic adviser Larry Kudlow said late on Thursday that the United States and China are getting close to a trade agreement, citing what he called very constructive talks with Beijing. “Today is definitely about optimism surrounding the trade tensions,” said Jason Pride, chief investment officer of private wealth at Glenmede in Philadelphia. The stock market has climbed recently to record highs, driven by Federal Reserve interest rate cuts, third-quarter earnings topping low expectations and signs that economic growth may be bottoming, while uncertainty over US-China trade relations remains a wild card. "It’s definitely been a big source of volatility over a fairly long period of time for the markets and stocks in general," Pride said. "To see some sort of resolution of it would probably be a lift to investors and to equity holders because it takes away a big piece of uncertainty in many investors’, and even corporate executives’, minds.” The Dow Jones Industrial Average rose 222.93 points, or 0.8 per cent, to 28,004.89, the S&P 500 gained 23.83 points, or 0.77 per cent, to 3,120.46 and the Nasdaq Composite added 61.81 points, or 0.73 per cent, to 8,540.83. Ten of 11 S&P 500 sectors ended positive. Healthcare led the way, gaining 2.2 per cent for its biggest one-day percentage rise since January, with UnitedHealth Group shares surging 5.3 per cent and Pfizer rising 2.0 per cent. The gains came as President Donald Trump made an announcement on healthcare price transparency. Regulatory and election risks have contributed to the healthcare sector's underperformance in 2019, said Walter Todd, chief investment officer at Greenwood Capital in South Carolina, noting that perhaps Friday's gains were "a catch-up trade." Shares of Applied Materials soared 9.0 per cent after the chip gear maker forecast first-quarter revenue and profit above Wall Street estimates. The Philadelphia SE Semiconductor index gained 0.9 per cent and hit a record high. Enthusiasm for the group was tempered by a 2.7 per cent decline in Nvidia shares following the chipmaker's report. Data on Friday showed US retail sales rebounded in October, but consumers cut back on purchases of big-ticket household items and clothing, which could temper expectations for a strong holiday shopping season. Advancing issues outnumbered declining ones on the NYSE by a 1.84-to-1 ratio; on Nasdaq, a 1.50-to-1 ratio favoured advancers. The S&P 500 posted 52 new 52-week highs and one new low; the Nasdaq Composite recorded 121 new highs and 108 new lows. About 6.5 billion shares changed hands in US exchanges, below the 6.9 billion-share daily average over the last 20 sessions.

Trade deal hopes, surging health stocks power Wall Street to highs

Global economic worries on Thursday caused Wall Street to retreat from record highs following sour economic data from major economies and signs of persistent deadlock in US-China trade talks.

China's Commerce Ministry reiterated its position that tariff concessions from Washington should be part of a phase one deal to resolve the trade conflict, suggesting a resolution to the US-China trade war was slipping out of reach yet again.

About 15 minutes into the trading day, the benchmark Dow Jones Industrial Average was down 0.1 per cent at 27,762.21, lifted by global retailer Walmart, which posted surging quarterly profits thanks to online sales and revenues from Indian retailer Flipkart.

Meanwhile, the S&amp;P 500 was flat at 3,093.35 and the Nasdaq was 0.3 per cent lower at 8,459.39.

Shares in Walmart were up more than 2.3 per cent, marking the best gains since August.

President Donald Trump hailed the Walmart results, saying the proved his trade wars were not damaging the US retail sector.

"No impact from Tariffs (which are contributing $Billions to our Treasury)," he wrote on Twitter.

However, Walmart executives said they are watching the tariff discussions and hoping for a prompt resolution to the dispute.

Networking and telecoms firm Cisco plunged seven per cent a day after cutting earnings guidance for its upcoming fiscal quarter.

"There is no dash for the exit in spite of reported stumbling blocks over China citing the rollback of some existing tariffs as a precondition for doing a deal and the US reportedly not being on board with that precondition," analyst Patrick O'Hare wrote at Briefing.com.

Economic data released Thursday showed further signs of strain in China's economy, with a sharp slowdown in consumer spending and factory production, while investment growth hit a record low as the trade war with the United States takes its toll.

Germany's economy narrowly avoided recession as it eked out 0.1 per cent quarter-on-quarter growth, beating forecasts of a 0.1 per cent contraction but confirming the trade-dependent nation's struggles.

Global economic worries on Thursday caused Wall Street to retreat from record highs following sour economic data from major economies and signs of persistent deadlock in US-China trade talks.

Global economic worries on Thursday caused Wall Street to retreat from record highs following sour economic data from major economies and signs of persistent deadlock in US-China trade talks. China's Commerce Ministry reiterated its position that tariff concessions from Washington should be part of a phase one deal to resolve the trade conflict, suggesting a resolution to the US-China trade war was slipping out of reach yet again. About 15 minutes into the trading day, the benchmark Dow Jones Industrial Average was down 0.1 per cent at 27,762.21, lifted by global retailer Walmart, which posted surging quarterly profits thanks to online sales and revenues from Indian retailer Flipkart. Meanwhile, the S&P 500 was flat at 3,093.35 and the Nasdaq was 0.3 per cent lower at 8,459.39. Shares in Walmart were up more than 2.3 per cent, marking the best gains since August. President Donald Trump hailed the Walmart results, saying the proved his trade wars were not damaging the US retail sector. "No impact from Tariffs (which are contributing $Billions to our Treasury)," he wrote on Twitter. However, Walmart executives said they are watching the tariff discussions and hoping for a prompt resolution to the dispute. Networking and telecoms firm Cisco plunged seven per cent a day after cutting earnings guidance for its upcoming fiscal quarter. "There is no dash for the exit in spite of reported stumbling blocks over China citing the rollback of some existing tariffs as a precondition for doing a deal and the US reportedly not being on board with that precondition," analyst Patrick O'Hare wrote at Briefing.com. Economic data released Thursday showed further signs of strain in China's economy, with a sharp slowdown in consumer spending and factory production, while investment growth hit a record low as the trade war with the United States takes its toll. Germany's economy narrowly avoided recession as it eked out 0.1 per cent quarter-on-quarter growth, beating forecasts of a 0.1 per cent contraction but confirming the trade-dependent nation's struggles.

Wall Street subdued as economic, trade doubts persist

Wall Street's main indexes were set to retreat at the open on Monday as comments by President Donald Trump dampened expectations around a <a href="https://www.wionews.com/.../trump-xi-meeting-in-iowa-would-be-poignant- reminder-of-better-us-china-ties-260213">US-China trade deal</a>, while escalating violence in Hong Kong added to investor worries.

Hopes of a "phase one" deal to end the damaging 16-month trade war and largely upbeat corporate earnings have sparked a rally that helped the three major stock indexes close at record highs on Friday.

But Trump said on Saturday that the United States would only make a deal if it was the "right deal" for America, adding that the talks had moved more slowly than he would have liked.

Trade-sensitive stocks Caterpillar Inc, Advanced Micro Devices Inc, Micron Technology Inc and Intel Corp shed about 1 per cent&nbsp;each in premarket trading. US-listed Chinese stocks also fell.

Continuing violence in<a href="https://www.wionews.com/.../hong-kong-police-defends-shooting-protesters- wions-correspondent-shares-the-real-time-experience-261433"> Hong Kong </a>also hit sentiment after police shot and wounded a protester in the 24th straight week of pro-democracy unrest in the Chinese-ruled territory.

"You have China involved in two major variables now, which seems to be causing some nervousness," said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville.

"During times like these, the markets are going to be volatile and erratic, especially after coming off all-time highs."

The third-quarter earnings season is drawing to a close on a positive note, with nearly three-quarters of the 446 S&amp;P 500 companies that have reported results so far topping profit estimates, according to Refinitiv data. The numbers, however, reflect significantly lowered analysts' forecasts.

Attention will now shift to economic data, as well as comments from Federal Reserve Chair Jerome Powell later this week.

At 8:53 a.m. ET, Dow e-minis were down 107 points, or 0.39 per cent. S&amp;P 500 e-minis were down 12 points, or 0.39 per cent&nbsp;and Nasdaq 100 e-minis were down 31.75 points, or 0.38 per cent.

Walgreens Boots Alliance Inc jumped 5.6 per cent&nbsp;after Bloomberg reported KKR &amp; Co had formally approached the drugstore giant for what could be the biggest-ever leveraged buyout.

Among other stocks, Qualcomm Inc fell 2.4 per cent&nbsp;after Morgan Stanley downgraded the chipmaker to "equal-weight" from "overweight".

Shares of Cisco Systems Inc dropped 1.4 per cent&nbsp;as Piper Jaffray cut its rating on the network gear maker to "neutral" from "overweight".

Wall Street's main indexes were set to retreat at the open on Monday as comments by President Donald Trump dampened expectations around a US-China trade deal, while escalating violence in Hong Kong added to investor worries.

Wall Street's main indexes were set to retreat at the open on Monday as comments by President Donald Trump dampened expectations around a US-China trade deal, while escalating violence in Hong Kong added to investor worries. Hopes of a "phase one" deal to end the damaging 16-month trade war and largely upbeat corporate earnings have sparked a rally that helped the three major stock indexes close at record highs on Friday. But Trump said on Saturday that the United States would only make a deal if it was the "right deal" for America, adding that the talks had moved more slowly than he would have liked. Trade-sensitive stocks Caterpillar Inc, Advanced Micro Devices Inc, Micron Technology Inc and Intel Corp shed about 1 per cent each in premarket trading. US-listed Chinese stocks also fell. Continuing violence in Hong Kong also hit sentiment after police shot and wounded a protester in the 24th straight week of pro-democracy unrest in the Chinese-ruled territory. "You have China involved in two major variables now, which seems to be causing some nervousness," said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville. "During times like these, the markets are going to be volatile and erratic, especially after coming off all-time highs." The third-quarter earnings season is drawing to a close on a positive note, with nearly three-quarters of the 446 S&P 500 companies that have reported results so far topping profit estimates, according to Refinitiv data. The numbers, however, reflect significantly lowered analysts' forecasts. Attention will now shift to economic data, as well as comments from Federal Reserve Chair Jerome Powell later this week. At 8:53 a.m. ET, Dow e-minis were down 107 points, or 0.39 per cent. S&P 500 e-minis were down 12 points, or 0.39 per cent and Nasdaq 100 e-minis were down 31.75 points, or 0.38 per cent. Walgreens Boots Alliance Inc jumped 5.6 per cent after Bloomberg reported KKR & Co had formally approached the drugstore giant for what could be the biggest-ever leveraged buyout. Among other stocks, Qualcomm Inc fell 2.4 per cent after Morgan Stanley downgraded the chipmaker to "equal-weight" from "overweight". Shares of Cisco Systems Inc dropped 1.4 per cent as Piper Jaffray cut its rating on the network gear maker to "neutral" from "overweight".

Wall Street set for weak opening amidst US-China trade war and Hong Kong crisis

On Tuesday, 'Charging Bull' which is the iconic statue of Wall Street in New York took up as the target for the 'Extinction Rally' of climate protesters. Protesters rage on statue by pouring the fake blood all over the statue.

WION Wallet: Wall Street's iconic 'Charging Bull' became haunt of climate change protesters

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