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Futures Soar As China Offers To Buy Another $10 Billion Of US Goods

Courtesy of ZeroHedge View original post here.

Indeed, the last hour of watching E-mini S&P500 futures has been a wild ride. There have been two spikes in futures, one at 5:10 am est. or so, when a headline hit detailing how Beijing "may be open" to a "partial" US trade deal. 

Then, the next spike, at 5:47 am est. was a 20 point, 71bps pop in 35 seconds, algos went into panic buying after the Financial Times reported Chinese officials offered "to increase annual purchases of US agricultural products by $10bn a year." 

China’s lead trade negotiator, Vice Premier Liu He, will meet with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday to hash out a possible lite trade deal, and if all goes well, a potential meeting with President Trump could be seen on Friday.

“Liu He is coming with real offers, it’s not an empty visit,” said one of the people briefed on the talks. “The Chinese are ready to de-escalate.”

And all of these headlines are occurring as E-Mini S&P500 futures struggle to stay above the daily 200ema.

 

 


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