US equity markets rallied amid some tentative signs of progress around US-China trade relations - Dow up +326-points or +1.25% The broader S&P500 rose +1.27%, with Industrials (up +1.77%) and Financials (+1.73%) the leading primary sector performers. The technology-centric NASDAQ gained +1.48%. A spokesman for China’s Ministry of Commerce said they "firmly reject an escalation of the trade war, and are willing to negotiate and collaborate in order to solve this problem with a calm attitude” The spokesman added that “China has plenty of means for counter measures, but under current situation, the question that should be discussed right now is about removing the U.S.′ new tariffs on $550 billion Chinese goods to prevent escalation of the trade war” and indicated that the Chinese are more interested in negotiations than they are on retaliating, highlighting the need to prevent further escalation.
