Stocks Ended Higher as China Cut Tariffs

U.S. stocks ended at record highs on Thursday after China announced plans to cut tariffs on $75 billion in US goods. The Dow Jones Industrial Average advanced 88.92 points, or 0.30%, to 29,379.77. The S&P 500 rose 11.09 points, or 0.33%, to 3,345.78. The Nasdaq Composite gained 63.47 points, or 0.67%, to 9,572.15.

Oil futures ended on a mixed note Thursday, with U.S. prices up but global prices down, as a committee of OPEC members and their allies advocated for cuts to global production to stabilize slumping crude values. West Texas Intermediate crude for March delivery gained 20 cents, or 0.4%, to settle at $50.95 a barrel. April Brent crude lost 35 cents, or 0.6%, at $54.93 a barrel.

Uber Technologies Inc. (UBER) reported a narrower-than-expected loss and fourth-quarter revenue largely in line with Wall Street estimates. It reported revenue of $4.07 billion and lost $1.1 billion, or 64 cents per share.

Pinterest Inc. (PINS) reported better earnings and revenue than expected in the fourth quarter and predicted sales would top $1.5 billion in 2020. Pinterest reported a net loss of $35.7 million, or 6 cents a share, on sales of $399.9 million for the fourth quarter, up from revenue of $273.2 million a year ago.