China will lower import tariffs on over 850 products ranging from frozen pork and avocado to some types of semiconductors. China is making efforts to boost imports amid a slowing economy and a trade war with the U.S.
Wall Street posted fresh record highs on Friday as stocks continued to rally on the back of an easing of geopolitical risks. The S&P 500 was up more than 1.5% last week and posted its fourth consecutive weekly gain. The benchmark is up 28.5% for 2019 through Friday.
This time of year tends to be beneficial for investors as the so-called Santa Claus rally has historically given the stock market a short boost. During the final five trading days of the year and the first two tradings days of the new year, the S&P 500 has posted a 1.3% gain on average since 1950, according to the Stock Trader’s Almanac.