Cashin: Traders wary of positive trade reports after getting 'heart broken time and time again'
told CNBC on Tuesday that investors are wary of positive U.S.-China trade reports after having been let down in the past.
"This market has had its heart broken time and time again," said Cashin, director of UBS floor operations at the New York Stock Exchange. Stocks have reacted wildly to reports on the trade talks, which have flip-flopped between pessimism and optimism over the past 17 months. However, the market remained little changed following a report, which hit before Tuesday's open on Wall Street, that the U.S. couldthat the U.S. planned to delay Sunday's tariffs on $160 billion in goods as the world's two largest economies continue to try to work out a "phase one" trade deal. Additionally, the Trump administration also asked Beijing to commit to some agricultural purchases, the report said, while also pushing for quarterly reviews of such purchases.
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