Was today’s market rally on hopes of avoiding a China/U.S. trade war justified? Here’s the state of what we know

Was today’s market rally on hopes of avoiding a China/U.S. trade war justified? Here’s the state of what we know

Global financial markets rallied today on a speech by China’s President Xi Jinping at a regional economic meeting that seemed to pull China and the United States back from the cliff and a potential global trade war. Xi promised to open up China’s economy, to raise the limits on foreign ownership in the aircraft, shipbuilding and auto industries and to reduce tariffs on auto imports and on some other products.