Wall Street closes out 2019 by adding to year's big gains

Year to date global stock market changes

Wall Street drops on Monday as investors look to book their profits

All 11 S&P 500 sectors closed the year higher for the first time since 2010 and the S&P 500 and Nasdaq saw their largest single-year increases since 2013.

TECH'S BIG YEAR: Technology stocks have helped power the broader market's gains this year.

The Dow is down 106.82 points, or 0.4%.

Stocks slipped globally in quiet New Year's Eve trading Tuesday with many markets closed. One of the most commonly used is the comparison between the price of a share and its profit from the previous year.

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Tesla climbed 2.9% after a news report suggested the electric vehicle maker would deliver its first China-made Model 3 sedans as early as next week. The Dow rose 330.36 points, or 1.2%, to 28,868.80. Shares of Wynn Resorts Ltd, Las Vegas Sands Corp and Melco Resorts & Entertainment Ltd rose between 2% and 4%.

Earlier in the day, the South China Morning Post reported that Chinese Vice Premier Liu He will travel to Washington on Saturday to sign the phase-one of the trade deal.

Despite a surging USA dollar and a sky-high stock market, the price of gold pressed higher with a 0.3% rally.

The People's Bank of China said it would further loosen monetary policy by reducing the amount of reserves banks needs to keep on hold at the central bank, essentially freeing up cash for lending.

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"Rising political and policy uncertainty will keep the index range-bound" for most of 2020, wrote David Kostin, chief USA equity strategist at Goldman Sachs. It's on track to end the month about 2.6% higher, its fourth-consecutive monthly gain. He also said he plans to travel to Beijing at a later date to open talks on other sticking points in the dispute that remain to be worked out, including Chinese practices the USA complains unfairly favor its own companies. Other chipmakers such as Micron and Intel rose 2.99% and 1.65%, respectively.

Semiconductor stocks are coming off a strong performance in 2019. The sector ended with a 29.2 per cent gain for the year, while JPMorgan Chase, Bank of America and Citigroup climbed over 40 per cent.

The Benchmark United States crude oil lost 62 cents to settle at $61.06 per barrel. Brent crude, the global standard, was up $0.13 to $66.13 per barrel around the same time.

The price of gold rose $5 to $1,519.50 per ounce. Germany's markets were closed.

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