Stocks Erase Kudlow Bounce On Reports US-China “Far Apart” On Trade Deal

The pre-market plungeon retail sales and trade headlines was bounced higher by Kudlow’s jawboning that “everything is awesome.” However, Bloomberg reports that US and China remain “far apart” on the trade deal spooked stocks back lower…

Bloomberg reports that in closed-door sessions, the sides have failed to narrow the gap around structural reforms to China’s economy that the U.S. has requested, even as both seek to avoid an increase in tariffs after March 1.

According to three U.S. and Chinese officials who asked not to be identified, the U.S. and China have made little progress so far during trade talks in Beijing, leaving much work to be done before President Donald Trump and his counterpart Xi Jinping look to seal a deal at a yet-to-be scheduled summit.

The headline-reading alogos are what is driving all this chaos as they fight over the S&P 500’s 300DMA…

Time to wheel out Kudlow again stat!