Investors' heads have been left spinning over the past 12 hours after a slew of conflicting headlines related to the U.S.-China trade talks.
Wednesday night that the high-level talks would only take place Thursday. The report said Chinese Vice Premier Liu He and the rest of China's delegation scheduled to leave Thursday night instead of Friday, as was expected.However, a White House spokesman later told CNBC's Kayla Tausche the South China Morning Post's report was inaccurate. "We are not aware of a change in the Vice Premier's travel plans at this time.
The White House denial helped futures recover from those losses. However, a principal in the negotiations told CNBC that the schedule around the U.S.-China trade talks had indeed become "fluid," with Friday's session being an "open question." The source said one possibility was for Vice Minister Liao Min to stay in Washington through Friday while He left early. Another possibility is the high-level negotiations end Thursday after just one day.
"We expect the WH to announce that progress has been made sufficient to put the Oct 15 tariff on 'indefinite hold,'" said Donald Straszheim, head of China research at Evercore ISI, in a note. "If we are correct on these delays, the tariff war has already hit its peak intensity. That's a plus. Both sides we believe want to turn down the heat. Tariffs hurt everybody."
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