Trade negotiations with China going well

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The Dow Jones industrial average rose 3.3% to 23,433.16 after gaining 832 during the afternoon.

Another question mark for Apple is its 5G strategy in China, where the US firm is not expected to have a 5G-enabled phone until 2020, behind rivals like Huawei, Xiaomi Corp and Samsung Electronics. -China trade dispute, a strong report on the market and comments from the head of the USA central bank about its interest rate policy all combined to cheer investors.

The Canadian dollar traded at an average of 74.57 cents USA compared with an average of 74.02 cents U.S. on Thursday.

"Apple makes their product in China", Trump said. After a horrifying howl a year ago, the global stocks had still been carrying the wounds inflicted upon them, as a effect of trade war.

Meanwhile the Labor Department said USA employers added 312,000 jobs last month, a far stronger result than experts had anticipated. Some analysts said investors were acting as if a recession were on the horizon, despite a lack of evidence that the USA economy is struggling.

In a press release on Wednesday, the law firm wrote: "Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Apple. resulting from allegations that Apple and/or its executives may have issued materially misleading business information to the investing public".

The U.S. government said employers added 312,000 jobs last month.

"It's hard to square recession worries with the strongest job growth we've seen in years", said Alec Young, managing director of global markets research for FTSE Russell. Although Powell called the December jobs report "very strong", he stressed that the Fed is "always prepared" to shift the stance of policy if needed. The S&P 500 index plunged almost 2.5 percent and the tech-heavy Nasdaq lost more than three percent.

Thursday's selloff shows how numerous same fears that made 2018 the United States stock market's worst in a decade are still roiling markets.

On Thursday, the shares of USA companies with heavy Chinese presence like Boeing, Caterpillar, GM and Qualcomm shed 3.99 percent, 3.92 percent, 4.16 percent and 2.96 percent, respectively.

About 90 percent of the stocks on the New York Stock Exchange traded higher.

US President Donald Trump said he was not concerned that Apple Inc. has warned sales will fall short of expectations because of the trade war with China, an announcement that provoked a sell-off in the US stock market. Technology companies took their biggest losses in seven years.

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Beijing has also defended its decision to bar the three United States citizens from leaving the country in November. This includes effectively banning members of a family from China to lure a relative back to the country.

Beijing responded by imposing penalties on $110 billion of American goods, slowing down customs clearance for USA companies and suspending issuance of licenses in finance and other industries.

A U.S. delegation is due to travel to Beijing to hold negotiations Monday, but Trump said he and Chinese leader Xi Jinping already have been actively engaged in the talks.

Technology companies, banks, health care and industrial companies all made strong gains.

Statistics show that in the first 11 months of 2018, Apple's shipment of smartphones fell by 1 percent, in sharp contrast to Huawei and Xiaomi's increase of 28 percent and 9 percent, respectively.

Analysts are now taking a dim view of rising corporate earnings in light of the more challenging global environment marked by slowing global economic growth.

Apple's troubles in China did not come as a great surprise to a number of analysts, given the open trade war and economic indicators.

China's central bank moved to inject money into the world's second-biggest economy on Friday, cutting the amount of cash reserves lenders must hold by 1 percentage point. Smaller companies have fallen further than larger ones in the last few months as investors got nervous about how the USA economy will perform in 2019 and 2020.

Bond prices fell sharply.

Riskier stocks led the rally, including tech companies that have gotten killed lately: Facebook (FB) rose 5%, Apple (AAPL) was up 4% after its worst day in six years. That helps banks, as higher interest rates allow them to make bigger profits on mortgages and other loans. The S&P 500 gained 2.1 percent, to 2,498.

In Asia, Hong Kong's Hang Seng jumped 2.2 per cent.

Apple's warning, its first since 2002, deepened concerns about the Chinese economy, which had been showing signs of stress.

US crude oil added 1.7 per cent to $47.88 a barrel in NY.