| A wave of dip buying fueled a rebound in stocks from session lows, following a selloff triggered by a recalibration of Federal Reserve wagers. About 375 companies in the S&P 500 rose on Monday, wiping out a slide that approached 1% earlier in the day. The Nasdaq 100 fell 0.6%, while the Dow Jones Industrial Average rose 0.7%. China's trade surplus soared to a record last year, driven by strong exports that boosted the economy but may soon be threatened by the incoming Trump administration. The surplus jumped to an unprecedented $992 billion in 2024, 21% higher than the previous year.  Shoppers walk down Nanjing East Road, a busy retail street, in Shanghai, China. Photographer: Qilai Shen/Bloomberg Los Angeles faces a second week of fierce winds that are turning wildfires into blowtorches, putting lives at risk and destroying homes, businesses and cultural landmarks. The blazes have killed at least 24 people and burned down more than 12,000 buildings across over 40,000 acres in the Pacific Palisades and Altadena neighborhoods of Los Angeles. Apple's iPhone sales declined about 5% globally in the final quarter of last year, hurt by underwhelming upgrades and competitors making inroads in China. The iPhone's market share slipped a point to 18% worldwide in 2024, according to Counterpoint Research data. The US Supreme Court has signaled it would likely not be TikTok's savior. If President-elect Donald Trump wants to play the role, he should do so within the confines of the law, Bloomberg's editorial board said. | 
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