Stocks in China, Europe and the U.S. traded up. The S&P 500 index was up 0.44 per cent in late afternoon trading, with its tech sector up the most among the 11 major sectors. (Financial Times, Reuters)

Talking point: There’s plenty of positive macroeconomic news for stock markets today. China’s manufacturing sector is growing. The number of people filing jobless claims in the U.S. ticked down. Earlier this week, U.S. President Donald Trump said he’d sign a phase one trade deal with China on January 15. Apple and Microsoft, both of which have extensive presences in China, led the tech sector rally, up 1.67 per cent and 1.40 per cent, respectively. However, much of this positive news could be temporary. The initial China-U.S. deal leaves many contentious issues unresolved. Chinese manufacturing strength is tied closely to the trade deal; today’s numbers, while strong, are down from the three-year high reached in November.