S&P 500 futures pare losses to just 0.1% now
At the same time, that is leading the dollar and yen lower on the day. The aussie and kiwi are back to trading near the highs against the greenback currently with AUD/USD back above 0.7100 while NZD/USD hits a high of 0.6843.
Talks in Beijing are said to have concluded and reports are suggesting that both parties will be working towards getting an agreement and a memorandum of understanding prepared next week before Trump and Xi meet some time around the middle of next month.
Despite the positive tones, it is still believed that both parties are still at odds over certain issues but for now further talks is being taken as a positive sign by markets and that should fuel some temporary euphoria heading into the weekend.
Though, I would still argue to proceed with caution as a lot of these headlines just look good on paper but it could end up being hardly anything worth shouting about at the end of the day.