With just minutes left until the close, traders were desperate for hints whether there will be a thumbs up or thumbs down overnight into tomorrow's trade negotiation deadline. And moments ago it appears they got it when the VOA's Steve Herman quoted the US-China Business Council's Doug Berry that a US-China trade deal is coming, although it "is going to be smaller than some people had hoped." Still, as Barry says, "a deal of any kind is more than a lot of skeptics have felt."
Of course, if Trump opts for a purely optical package, one which doesn't address any of the core issues in the US-China feud, the move higher in risk will be brief and shallow, perhaps similar to this...
... and will reverse quickly as there have been numerous such "ceasefires" in the past which lasted at most a few weeks.
For now, however, it will do and allow Trump to boast, however briefly, that he has a deal. At least until China pisses him off again, and he desperately needs a foreign diversion at which point the war can begin afresh.