U.S. Equities edged higher after President Donald Trump said he was “very close” to a trade pact with China even as he warned that Beijing wanted a deal more than he did. Automakers, an industry particularly sensitive to trade, led advances after Trump’s comments in an interview on Fox News. Bitcoin tumbled to a six-month low and the US Dollar gained. Oil fell and Treasury yields held steady. The S&P 500 Index posted a small weekly loss, its first since early October. It’s been a mixed picture on the trade front last week, suppressing volatility and keeping stocks in a tight range within 1% of a record high. Chinese Vice Premier Liu He has invited Robert Lighthizer to Beijing for further talks later this month, according to people familiar with the matter, and Washington will likely postpone new tariffs scheduled for December even if there’s no deal by then, the South China Morning Post reported. However, Trump may soon sign a bill supporting Hong Kong’s protesters, a move likely to anger China. He declined to reveal plans when asked Friday. Asia stocks rose with European and U.S. equity futures as investors mulled the latest move by China that may go some way to easing trade tensions. The Japanese Yen dipped. Hong Kong stocks outperformed after local council elections proceeded with record turnout amid the city’s continuing unrest after residents in Hong Kong handed an overwhelming victory to pro-democracy candidates in a vote for district councils on Sunday.
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