This is becoming more farcical every day.
US equity markets are legging higher once again following more China headlines which reiterated the same old news that was negative news over the weekend and was confirmed as a negative by Navarro... but are now positive...
Here's the news that sparked this:
The Chinese Commerce Ministry tells us China is ready to do a deal on the parts of the negotiations both sides agree upon. The Ministry tells us they are prepared to set out a timetable for the harder issues to be worked out next year. #China #Trade
— Edward Lawrence (@EdwardLawrence) October 7, 2019
And as a reminder, White House trade adviser Peter Navarro (and President Trump) said this morning that US would NOT agree to a partial deal... which is exactly what China is offering.
But that didn't stop the machines squeezing the shorts...
Source: Bloomberg
As @Hipster_Trader noted so accurately "So after rallying for months on hopes of a deal, markets rallying some more on hopes of a partial deal."