S&P 500 rallying more than 11 percent through Tuesday’s close. Part of the rally has been fueled by investors increasing bets that China and the U.S. will strike a trade deal soon. However, there are growing concerns that a deal is fully baked into the market, possibly limiting any more gains coming from positive trade news.
CNBC learned through sources on Monday that China and the U.S. were in the “final stages” of trade talks that could end this month. Sources also said the two sides are working on a Mar-a-Lago summit to cap off the negotiations.
Worries over the two countries’ skirmish kept Wall Street on edge for most of last year as investors worried about the impasse’s impact on corporate earnings.
The White House did not immediately respond to CNBC’s request for comment.