Markets surged higher following a tweet by President Trump stating:
“Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting.”
Markets have been waiting for some kind of positive news on the trade war front. The meeting is to take place at the Group of 20 meeting in Tokyo.
We had already seen positive news this morning after European Central Bank President Mario Draghi hinted at lowering interest rates if the economy continues to show weakness.