Bloomberg News released a report this morning from an ‘unidentified’ White House source that implied the trade deal was moving to completion despite President Trump’s comments yesterday that seemed to say otherwise.
Markets moved higher in response.
Many traders mocked the report, as did China.
Economic data came in mixed.
ADP Employment Change (Nov) printed at 67k vs consensus estimate of 140k.
Market Services PMI (Nov) printed at the estimate of 51.6.
Market PMI Composite (Nov) printed at 52 vs estimate of 51.9.
ISM Non-Manufacturing PMI (Nov) printed at 53.9 vs estimate of 54.5.
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