E-Minis Pull Higher, Perhaps On Delayed Reaction To China Tariff Story

E-minis are extending through Friday’s best levels in early Asia trade. There doesn’t seem to be a fresh headline catalyst but it may be a case of delayed reaction to Monday’s BBG source report which noted that U.S. President Biden is close to declaring the rolling back of China tariffs to fight inflation, although the content of the story was a little more balanced than the headline, noting that “President Joe Biden may announce as soon as this week a rollback of some US tariffs on Chinese consumer goods -- as well as a new probe into industrial subsidies that could lead to more duties in strategic areas like technology.” The NASDAQ 100 contract leads the bid in e-minis, last +1.0%, while the S&P 500 is +0.6% and DJIA is +0.4%.