Renewed Hopes of De-Escalation in the US-China Trade War Send Stocks Higher

Traders sent stocks higher on Friday on renewed hopes of de-escalation in the US-China trade war.

President Donald Trump and Chinese counterpart Xi Jinping are set to meet on Saturday in a high-stakes encounter that could determine whether the US follows through on its threat to extend tariffs to virtually all Chinese goods. “I think we have a very good chance” of doing “something,” Trump told reporters at the G-20 summit in Japan, according to Bloomberg.

“Probably the most optimistic outcome this weekend is a renewal of trade talks…which at least delays the hike in tariffs, even if it solves nothing longer term,” said Michael Every, senior Asia-Pacific strategist at RaboResearch.

Read the full article at Markets Insider.

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