Markets rose on the last day of 2018.
The S&P 500 rose 0.9 percent and the STOXX Europe 600 rose 0.4 percent.
Some optimism came after US President Donald Trump tweeted on Saturday that he and Chinese leader Xi Jinping had made “big progress” in a telephone discussion about trade.
Still, the trade tension between the US and China is likely to remain a source of concern for investors, especially after a report on Monday showed that China's manufacturing purchasing managers' index dropped to 49.4 in December, the lowest since February 2016, from 50.0 in November.
The S&P 500 ended the year down 6.2 percent after a 14 percent decline in the fourth quarter but some analysts see the recent rally continuing, at least for a while longer.
“Looking ahead into the first few weeks of the new year, we continue to believe the market will climb higher as tactical internal and sentiment extremes moderate, while sucking the optimists back in, before ultimately taking the next leg down in this bear market,” said Jeff deGraaf, chairman of Renaissance Macro Research, in a note.
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