*TRUMP TO MEET CHINA'S XI AT G20 IN NOVEMBER: DJ Dow futs were up 45 points on the news.
However, the exuberance was doomed to be short lived because, during an interview with CNBC, economic advisor Larry Kudlow clarified that, while talks about a meeting between Trump and Xi were ongoing, a concrete agreement has not yet been reached.
His comments sent stocks lower once again, with Dow futs moving off their session highs.
According to the initial reports about the meeting, Trump had appointed a dedicated team to plan for the meeting – a team that, interestingly enough, includes Christopher Nixon Cox, the grandson of President Nixon (the president who was widely credited with “opening up” China after meeting with Chairman Mao during a historic 1972 visit to China).
But in a report that raised questions about any US and China cooperation, the South China Morning Post said China is considering becoming a member of the CPTPP trade pact in an effort to hedge against the US.