China Trade Talks 'Making Good Progress'. Markets Surge

  • Global stocks soared on hopes for a trade deal on Monday after US Commerce Secretary Wilbur Ross said talks were "making good progress." 
  • According to Bloomberg, Ross said at a business forum that the US and China were "very far along." 
  • Ross also made comments about US licenses to sell to Huawei and tariffs on automakers, helping lift stocks higher. 

The hopes of a possible trade deal between the US and China were lifted on Monday, after Wilbur Ross, the US commerce secretary, said that trade war talks were "making good progress."

The positive comments lifted European stocks and US futures on Monday, sending Europe's benchmark Euro Stoxx 50 to a 20-month high. Carmakers were among stocks leading the rallies after Ross suggested the US may scrap auto tariffs. 

Ross, who was speaking at a business forum in Bangkok, said that the US and China were "very far along" in talks of an initial deal, according to Bloomberg.

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