Algos Panic-Buy Stocks, Yuan On Reports Of 'Face-To-Face' US-China Trade Meetings

Ever-ready to ignite some momentum, headline-reading algos panic-bid stocks on headlines that US trade negotiators are to head to China for face-to-face talks.

Bloomberg reports that U.S. Trade Representative Robert Lighthizer and senior U.S. officials are set to travel to China next Monday for the first high-level, face-to-face trade negotiations between the world’s two biggest economies since talks broke down in May.

Lighthizer and a small team will be in Shanghai through Wednesday, according to people familiar with the plans who asked not to be identified. The meeting is expected to involve a broad discussion of the issues outstanding, a senior administration official said.

The machines don't care about the details or the previous failed meetings...

Pushing the S&P 500 back above 3,000...

Offshore Yuan spiked...

One quick question - Does a cut in the uncertainty of trade (and the uncertainty around the debt ceiling also being removed) suggest The Fed are less likely to cut rate next week?