00:00It's been a brutal year for global stock markets. Most indices are ending the year
00:06in the red, and heavily so. So happy new year, I guess? In the US, the Dow Jones, for example,
00:12is down 6.7% for the year. The S&P 500 down 7%. Seriously, it's abysmal out there. France's
00:19index is down 11.5%. Germany, 18% down. Istanbul, 20% down. Locally, the DFM isn't much better.
00:27India index is down 25% for the year. That's the Dubai index. The Abu Dhabi index is much
00:33better, up actually 11.7%, one of the few indices that is up worldwide. And in China,
00:41the Shanghai Composite is down 24.6% year to date, while India is in the green, up 5.9%
00:49for the year. On the last day of the year, however, stocks climbed with strong gains
00:54in US equity futures, as US President Donald Trump said he's making big progress with trade
00:59talks with China. Over the next few days, expect focus to turn onto the US government
01:04possibly shutting down. And for 2019, China and US trade talks are still expected to take
01:09center stage. That's it for this year. And today, see you next year. This has been the
01:13Daily Business Wrap. Thank you so much for watching. Please find us at gulfnews.com forward
01:17slash business.
