Stocks briefly liked the headline
Trump says he is close to doing something with China on trade but he doesn't know if he wants to do it.
"Frankly, I like the deal we have right now," he said, referring to tariffs.
The S&P 500 briefly pared its losses but is back lower. One reason is that the WSJ reports that trade hawk Peter Navarro is back on the guest list for the dinner meeting with Xi.
The interesting spot to watch is bonds with 10-year yields down 4 bps to 3.02% after briefly falling below 3.0%.
Update: I just listened to his comments and they're more negative than the headlines indicated. He's strongly implying that he doesn't want whatever is offered right now.
