The two sides did make some progress in the bitter trade war recently. In early October, Trump said the two nations have agreed to work up a "phase one" trade deal that includes a pause in tariff escalation and more agriculture buying from China. However, China is insisting on a removal of the existing duties in place as the part of the deal, which Trump said he had not approve.
Nonetheless, the optimism has lifted the market to record highs. Major stock averages — the S&P 500, Dow and the Nasdaq Composite — all scored new records in the past couple of weeks. Investors have learned to become more skeptical of the upbeat tone from the Trump administration after a fruitless battle of 18 months, but given the popularity of algorithmic trading, the market has become highly sensitive to every headline.
"We're finally 'close' to a trade deal with China … according to several senior members of the Trump administration!!!! Wait a minute, wasn't what they said a week ago … two weeks ago … three weeks ago … etc.? In fact, isn't that what they said about a much bigger deal back in late April???" Matthew Maley, chief market strategist at Miller Tabak, said in a note on Friday.
"Actually, with the impact of today's algos, it wouldn't surprise us if we got an initial pop in the stock market, but we seriously question the sustainability of that kind of rally," Maley added.
Trump is the king of Fake News.
Do your damn job and call these guys out.
The algos listen, humans don’t believe it. Maybe joe Kernan does but smart people like everyone else doesn’t.
Trade deal never made in 2019 or in 2020 only conclusions and fake reports and comments come
Stupid
Are we to care about any progress on China trade? If Walmart is a bellwether, the trade war has affected us zilch. If US companies move supply lines from China to elsewhere, any damage to China may last a while.
CNBC has them on daily. Why don’t you ask them about it then?
I'd bet money Trump and Kudlow have a broker in a room who they tip off to buy and sell stocks and options in advance of one of their fake announcements. Trump and his people have been saying the same thing for 2 years and still ... no deal. Why does market still stupidly listen?
What a pain in the neck story. All year long listening this crap. Who cares this fakefuckingnews
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