Its bordering on ridiculous the reaction in Stocks when bullish  China trade headlines emerge that tell markets nothing new, Why Fight it I guess. Yesterday evening at 7:49 ish these headlines, Especially the Red highlight caused spoos to jump 10+ handles and very strong volume, and ten has and bonds to sag a bit.

*CHINA, US DISCUSSED CORE MATTERS CONCERNED IN PHONE CALL:XINHUA
*CHINA, U.S. HELD CALL TODAY; AGREED TO CONTINUE PHASE-1 TALKS
CHINA, U.S. AGREE TO KEEP COMMUNICATIONS ON PHASE 1 DEAL:XINHUA
*CHINA, US AGREE TO KEEP CONTACT ON REMAINING MATTER IN PHASE 1
*CHINA, U.S. REACH CONSENSUS ON SOLVING ISSUES: XINHUA
*CHINA, US TOP TRADE NEGOTIATORS HOLD PHONE CALL NOV. 26: XINHUA
*CHINA, U.S. TRADE NEGOTIATORS TALK ON PHONE: XINHUA

 Currently Spoos and Nasdaq little changed, Bonds and tens have a caught a bid following Gilts? +44 ticks Yields -4.5bps so far today Bunds  up a bit trading near session highs U.S. Yield curve 5s 30s flattening for the  sixth consecutive day, Traders more interested in Curve plays that outright  trades  for now

Yesterday evening Fed Powell broke no new ground with this comments, one piece of Information that is being flagged up is that he pledged to get inflation back to 2%. What that means is no Rate hikes in the near future and easy Policy for near future.

Just hitting wires is Comments from kelly-anne Conway some sticking points remain in Phase one talks    just ridiculous

Comments from IFR news:

With every inability of S&P500 to correct/weaken only adds to the pain for those sitting on the side-lines underweight especially ahead of year-end. The Fed is out of the picture (rate expectations are flat) and US/China trade is also less of a risk (neither side wants to rock the expectations boat) leaving equities to trade higher. It does feel like the market is not only preparing for the Thanksgiving holiday but also getting ready for year-end already. /kl