Milan/Sydney — World stocks stalled near record highs and currency markets were little changed on Monday as trading dwindled before the holidays and investors took profit on gains made this month.
US President Donald Trump said on Saturday that the US and China would “very shortly” sign phase one a trade agreement. It calls for the US to reduce some tariffs in exchange for China’s buying more US farm products. On Monday, China said it would lower tariffs on products ranging from frozen pork and avocado to some types of semi-conductors next year.
Data on Friday showed US growth rose in the third quarter and the economy has probably maintained its expansion as the year ends. Consumer spending was stronger than previously reported, and there were upgrades to business spending.
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