The daily business briefing: January 4, 2019

Stock futures lifted by China's announcement on trade talks, December jobs report far exceeds expectations, and more

1. Stock futures rise after China announces start of trade talks

U.S. stock index futures jumped early Friday after China's commerce ministry said high-level U.S.-China trade negotiations would start in Beijing next week, lifting hopes of easing tensions, although they retreated from highs after the strong December jobs report raised concerns about further interest-rate hikes. The fluctuations followed a Thursday market dive led by technology stocks dragged down by Apple's report that iPhone sales were falling more than expected in China. Apple's warning deepened fears about slumping growth in China, the world's No. 2 economy, and the likelihood that President Trump's trade war with Beijing was making matters worse. The Dow Jones Industrial Average sank by 660 points or 2.8 percent. The broader S&P 500 index fell by 2.5 percent and the tech-heavy Nasdaq Composite dropped by 3 percent. Apple fell by nearly 10 percent, its worst day since 2013.

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