Stocks pared earlier losses and the Dow pushed into positive territory and a fresh record closing high as Walgreens (WBA) and Boeing (BA) shares jumped. Earlier, equities had retreated from Friday’s record levels as concerns over trade and protests in Hong Kong flared up.

Bond markets were closed Monday in observance of Veterans Day.

Here’s where markets settled at the end of regular equity trading:

• S&P 500 (^GSPC): -0.2%, or 6.07 points

• Dow (^DJI): +0.04%, or 10.25 points

• Nasdaq (^IXIC): -0.13%, or 11.04 points

• WTI crude oil prices: (CL=F): -0.63% to $56.88 per barrel

• Gold (GC=F): -0.49% to $1,455.80 per ounce

President Donald Trump over the weekend refuted reports that the U.S. was necessarily prepared to lift tariffs on China as part of phase one trade agreement.

The remarks had sent stock futures lower and extinguished optimism over a tariff deescalation. Last week, members of the administration, including economic adviser Larry Kudlow, had said “there are going to be tariff agreements and concessions” as part of a preliminary deal.”

Trump is set to speak at the Economic Club of New York during a luncheon Tuesday, providing another forum to potentially address next steps and progress in a trade deal between the U.S. and China.

Elsewhere, increasingly violent demonstrations in Hong Kong added to risk-off sentiment in global markets. Footage circulated Monday of a police officer shooting a pro-democracy protestor and of a man set on fire after confronting some of the demonstrators. The turmoil sent the Hong Kong Hang Seng index (^HSI) down by the most since August, with the index falling 2.6% by the close of regular trading local time.

A number of major U.S.-based companies from Disney (DIS) to Marriott International (MAR) have called out the impact of the Hong Kong protests to their bottom lines. The region remains a significant international hub for business, and Hong Kong’s government implored protestors in a statement Monday to stay “calm and rational.”

STOCKS: Alibaba Singles’ Day tops records, Saudi Aramco sheds more light on IPO

Alibaba (BABA) saw a record of $38.4 billion in sales during its annual Singles’ Day shopping event, topping last year’s about $30.8 billion. In the first hour alone, Alibaba reached gross merchandise totaling $12 billion. The 24-hour-long sales extravaganza consistently tops purchases from Black Friday and Cyber Monday combined.

The Chinese e-commerce giant brought in sales from millions of shoppers all over the world during this year’s 11th iteration of the promotional day. Sales were aided this year by live-streamed promotions from celebrities including Kim Kardashian and Taylor Swift, as well as early pre-orders for products from companies including Estée Lauder (EL) and Apple (AAPL).

Saudi Aramco on Saturday released the prospectus for its initial public offering, which could be the largest in history. The Saudi state oil company plans to kick off its offering period November 17 and close it on December 4, after which it will price shares December 5 on the Tadawul Saudi stock exchange.

Saudi Aramco did not specify exactly the size of its share offering, but said it will sell as much as 0.5% of its shares to individual investors. The company has been valued in a range of between $1 trillion and $2 trillion, and its net income of $68 billion in the first nine months of 2019 made it the world’s most profitable company.

Walgreens (WBA) shares climbed after Bloomberg reported that private equity firm KKR had approached the drug store company for a deal to bring it private. Reports last week had suggested Walgreens was mulling going private, although the viability of such a deal had come into question given the company’s market capitalization north of $55 billion.

Boeing (BA) said it expects deliveries for his 737 Max jet will restart in December and could be ready to return to commercial service in January, the company said in a statement Monday. The announcement suggested the beleaguered aerospace giant was nearing certification for the 737 Max after the aircraft had been grounded since March. Boeing had said before it was seeking to get the 737 Max certified by the Federal Aviation Administration by the fourth quarter – a timeline many investors had previously worried was overly ambitious.

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Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

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