Trade Deal 'Possible' By Next Friday: CNBC

Right in the middle of AG Barr's testimony before the Senate Judiciary Committee and just before Fed Chairman Jerome Powell was set to begin his post FOMC-meeting press conference, CNBC dropped a report claiming that a trade deal between the US and China could be 'possible' by next Friday.

Trump

Of course, that's some pretty tentative language, and it's unclear whether the market was reacting to the trade headline or a delayed reaction to the FOMC decision.

Stocks

Reports that a deal might be imminent follow reports that Trump had instructed his team to cave on several US priorities -  including extracting commitments from Beijing to end its cyberespionage program -  for the sake of bringing home a deal.

In a statement released after the end of the latest round of talks in Beijing, White House Press Secretary Sarah Huckabee Sanders said "discussions remain focused toward making substantial progress on important structural issues and rebalancing the US-China trade relationship."

Understandably, some are skeptical.