Dow Futures Surge To Record Highs On Yet Another “US-China Trade Deal Close” Headline

This is becoming utter farce…

Having ramped overnight to record highs, Dow futures just exploded higher on the back of a headline reporting that a White House Official tells Politico a deal with China is almost there…”

And the algos panic-bid stocks…

What happens if there is a deal? Priced in? Or, if there isn’t?