|Day's Range||1.3300 - 2.9000|
Stocks pared gains late Friday but the market still made positive signals as indexes rallied on positive sentiment on the U.S.-China trade war.
U.S. markets and stock ETFs strengthened Wednesday as investors tried to maintain optimism ahead of high-level trade talks between the United States and China on Thursday. On Wednesday, the Invesco QQQ Trust (QQQ) was up 1.1%, SPDR Dow Jones Industrial Average ETF (DIA) rose 0.8%, and SPDR S&P 500 ETF (SPY) gained 1.0%. Market participants looked optimistically to trade developments on news that China was open to reaching a partial deal, the Wall Street Journal reports.
Though buying back t-bills is apparently a major part of the Fed's new plan, Powell stated "in no sense is this QE." He will have a chance to clarify today.
Stock futures rose on October 9 after Bloomberg reported that China is ready for a "partial trade deal." US-China talks are slated to start on October 10.