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US stock futures zoomed higher this morning after a spokesman for China's Ministry of Commerce told reporters that Beijing and Washington have discussed rolling back tariffs.

The spokesman, Gao Feng, stipulated that the United States and China must simultaneously cancel tariffs on each other before any "phase one" deal is signed.

The statement was welcomed by US investors who had a negative reaction Wednesday to a Reuters report warning that a "phase one" trade deal could be delayed until December.

The upshot: Investors should expect more uncertainty over when a potential deal will be signed, and, more importantly, the substance of the agreement. But the general tone in Washington and Beijing is positive.

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