A ceremony for the signing of the Phase 1 trade deal with China is taking place at 10:30 a.m. (Central time zone) today, with details about the pact expected to be released shortly after, Katie Murphy of CHS Hedging said.

According to U.S. Treasury Secretary Mnuchin, the documents in the trade deal should show the deal is “enforceable” and said any Phase 2 deal will lead to even more Chinese purchases of U.S. goods. “The market would like to see Phase 1 purchases first, however,” Allendale said.

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