With China and the US finally marking the end of their tumultuous trade war with the signing of an interim trade deal, the key index topped the 7,000 mark for the first time in history. Selling pressure early in the trading week caved in amid a wave of positive sentiment that carried the market through to successive all-time highs. By the close of the week, the ASX 200 had gained 2% to finish at 7,064.1 points, while the All Ordinaries also surged 2% to reach 7,180.30 points.

Which shares excelled?

Polynovo (ASX: PNV) was last week clear winner, with the stock racing higher by 21.9% despite no price sensitive news flowing through. The gains add momentum to the stock recent trading performance, with the company up almost 50% since early-to-mid December.Buy-now-pay-later operator Zip Company (ASX: Z1P) surged 8.2% after delighting investors with a fourth-quarter trading update. The company unveiled a 24% quarter-on-quarter jump in revenue, with revenue reaching $38.5 million in the December quarter.With a risk-off sentiment favouring IT stocks during the week, one of the biggest beneficiaries was Appen (ASX: APX). The company shares rose 12.4%, even though it was another example of a company that shared no news with investors last week.The gold sector also provided a trading opportunity for astute investors, as the precious metal managed to reverse some of its early-week losses to settle above the key US$1500 per ounce threshold. St Barbara (ASX: SBM) and Regis Resources (ASX: RRL) were two of the stocks that the market snapped up, with both posting strong gains of 9.6% across the trading week.Other major winners last week included Elders (ASX: ELD), up 13.4%, IMF Bentham (ASX: IMF), up 11.2%, plus Cimic Group (ASX: CIM), which leapt 8.1% as the company share price moved decisively higher after a period in which it traded in a modest trading range.[caption id="attachment_2651" align="aligncenter" width="500"]

Prolific infrastructure contractor Cimic Group posted strong gains last week[/caption]

Which shares dragged on the market?

Nufarm (ASX: NUF) was one of the biggest drags on the market last week, as the stock sank 10.2% after a poor trading update. The company announced that its first-half earnings for FY20 would tumble compared with the year prior, as its operations were exposed to climate issues and subdued demand.Stocks exposed to the UK fell out of favour last week after a strong rally in recent weeks. Virgin Money UK (ASX: VUK) lost 6.3%, while the owner of UK asset manager JO Hambro, Pendal Group (ASX: PDL), slid 5.3% as investor sentiment shifted away from the geography.Elsewhere, joining last week list of the worst-performing stocks was Coronado Global Resources (ASX: CRN) and Anglogold Ashanti (ASX: AGG), which fell 5.2% and 3.8% respectively. With sentiment shifting in and out of various commodities in recent weeks, the two stocks fell victim of a rotation towards other equities gaining traction in the market. Coronado problems were compounded by a fatality at its Curragh mining complex, which resulted in operations being suspended.

Other trading developments

Early-stage biotechnology firm Nyrada (ASX: NYR) listed on the ASX last week, completing its first week of trading to end in positive territory. Spun off from ASX-listed Noxopharm (ASX: NOX), the US company ended its first day of trade with gains of 17.5%, before eventually finishing 12.5% higher by the end of the week.The week ahead will see two new companies make a run at the ASX, with Happy Valley Nutrition (ASX: HVM) and COSOL (ASX: COS) set to debut on Thursday and Friday respectively.[caption id="attachment_2655" align="aligncenter" width="500"]

Aristocrat Leisure has reached a 52-week high and all-time high[/caption]

This week trading outlook

After another strong trading session in the US on Friday night, the Australian stock market is set to open modestly higher based on ASX futures over the weekend. The catalyst in the offshore session was data that indicated the fastest growth in new housing starts since 2006.Consumer confidence and employment data will headline the local newsreel this week, with investors set to get an insight as to what impact the bushfire crisis has had on confidence levels across the country.This data could have implications for retailers, however, it is the unemployment rate that may be a watch-point for the Big Four banks, including NAB (ASX: NAB) and ANZ (ASX: ANZ), since investors may get a better view as to the likelihood of any potential increase in bad debts.Employment classifieds website Seek (ASX: SEK) could also be swayed by the news, particularly if there is an indication that the labour participation rate comes in better-than-expected.Oil shares may also come into focus at the back end of the week as data emerges from the US with regards to crude oil levels. Companies like Santos (ASX: STO), Woodside Petroleum (ASX: WPL) and Oil Search (ASX: OSH) may be among those that investors keep a close eye on.The list of shares currently trading at their 52-week high is extensive, with as many stocks currently trading at their peak than any other time in the past few years. Some of the names include CSR (ASX: CSR), Fortescue Metals Group (ASX: FMG), QBE Insurance (ASX: QBE), Ramsay Health Care (ASX: RHC) and Commonwealth Bank (ASX: CBA).Meanwhile, the likes of Xero (ASX: XRO), Wesfarmers (ASX: WES), Sonic Healthcare (ASX: SHL), REA Group (ASX: REA), Macquarie Group (ASX: MQG), Magellan Financial Group (ASX: MFG), CSL (ASX: CSL), Cochlear (ASX: COH), Aristocrat Leisure (ASX: ALL) and Ansell (ASX: ANN) are just some of the stocks currently trading at an all-time high. It a different story at the other end of the scale, where it is only small-cap companies featuring among the list of shares currently trading at their 52-week low.In the news this morning will be Technology One (ASX: TNE) and Saracen Mineral Holdings (ASX: SAR), with the two companies set to release their annual and quarterly report respectively. The biggest names will follow on Tuesday, however, when BHP (ASX: BHP) and Lynas Corporation (ASX: LYC) issue their own quarterly reports. Evolution Mining (ASX: EVN) will round out the week with another eagerly awaited production report, where any volatility could provide investors with a trading opportunity.

We'll be back next week with another Weekly ASX Trading Wrap Up - until then, have a great week!