Stocks Burst Into The Green On Chinese Foreign Minister Trade Talk Optimism

Here we go again.

Overnight, we said that the market open headline will be driven entirely by the now daily read on trade [optimism|pessimism]…

Tomorrow market open headline cointoss:

“Futures rise as trade deal hopes buoy risk”

Or

“Futures fade as trade deal hopes dim”

— zerohedge (@zerohedge) September 26, 2019

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… and sure enough:

Fast forward a few hours when we it’s deja vu all over again, and with stocks trading perilously red for much of the session, Reuters blasted the now traditional last hour algo “pick me up”, hinting that trade negotiations with China are that much more likely to bear fruit, even though in reality absolutely nothing will be decided until the 2020 election… or Trump’s impeachment, whichever comes first:

• CHINA’S WANG YI SAYS HOPES BOTH SIDES CAN TAKE ‘MORE ENTHUSIASTIC MEASURES,’ REDUCE PESSIMISTIC LANGUAGE AND ACTIONS IN TRADE DISPUTE – RTRS
• CHINA’S WANG YI SAYS ‘IF EVERYONE DOES THIS, TALKS WILL NOT ONLY RESUME, BUT WILL PROCEED AND YIELD RESULTS’

This headline blast was sufficient to send both the dow and the S&P in the green…

… in a carbon copy of both the overnight session and countless previous days when the “trade optimism” headline hit with minutes left in trading, in what has now become a daily farce.