The markets are happy with the ongoing China-U.S. trade discussions.
The office of the United States Trade Representative said Wednesday that talks with officials in China have concluded in Beijing after three days of focus on "reciprocity and balance" in trade relations between the world's two biggest economies, reported TheStreet's Martin Baccardax on Wednesday, Jan. 9.
Matthew Cheslock, equity trader at Virtu Financial, discussed the trade negotiations with TheStreet.
"Well, obviously it's predicated on what we expect or what we hear out of China. And today we had an unexpected third day of negotiations and the market has reacted accordingly. Now we're seeing substantial gains for the third or fourth straight day here and most of it is based on the optimism out of China," said Cheslock. "We didn't get anything unusually volatile at last night's speech. Nothing that was kind of unexpected and that's what the market likes. It was expecting the worst it didn't get it. So we saw a rally."
Want to watch the full interview with Cheslock? You can find it here.