Sunday is the deadline for a trade deal to prevent President Trump's new U.S. tariffs on China from taking effect.
On Thursday, U.S. sources said Washington had offered to suspend some tariffs on Chinese goods and cut others in exchange for Beijing buying more American farm goods. That was after Trump tweeted that a deal was "VERY close" and helped lift stocks to record highs and 10-year Treasury yields to their highest in a month.
But Beijing's silence has fueled doubts. And on Friday, Trump tweeted that a Wall Street Journal report on the trade deal was "completely wrong", although he offered no specifics.
Investors, used to the deal-no-deal rollercoaster, won't fully believe the trade war is off the table until the ink is dry on a signed document.
With markets having rallied in recent days on expectations of an agreement, coming days could bring some profit-taking regardless of how the down-to-the-wire negotiations break over the weekend. The late December timing makes playing "Deal or No Deal" even trickier.
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