 Hi guys, this is rich from rich TV live and we have some big news and breaking news the smp 500 jumps to within 1% of Record as Trump tweets plan for extended meeting with the president of China Look at this. This is the breaking news right now and the markets is on fire Okay, the Federal Reserve's policy setting meeting is set to start later this morning President Trump tweeted they had a very good telephone conversation with president XI Jin Ping ECB president Mario Draghi set the stage for a rally in stocks after hinting at further your zone stimulus Facebook officially launches its four way foray into cryptocurrencies the Libra coin Those are the heading of the big news that is happening right now and let's get into this US stock indexes Headed sharply higher midday Tuesday pushing the broad market smp 500 to within 1% of a closing record We're almost at a record high folks as president Donald Trump tweeted That had a productive conversation with Chinese counterpart XI Jin Ping How are benchmarks faring the Dow Jones industrial average is up 1.25% rose 330 points or 1.3% at 26,444 the smp 500 index spx is up 1.06% advanced 31% 31 points or 1.1% at 2,920 while the NASDAQ competent set index COMP is up 1.5% climbed 121 points or 1.6% at 7,966 the days gains put the smp 500 about 0.9% from its April 30 closing record the Dow was about 1.4% from its October 3rd peak while the NASDAQ was just a little over 2% from its May 3rd closing record according to fact set data What's driving the market US President Donald Trump on Tuesday said over Twitter I gotta love Twitter and Twitter's up too by the way that there will be an extended meeting with President Xi Jinping of China at the Group of 20 meetings in Japan Reports from Bloomberg News also confirmed a plan for the two leaders to meet on the sidelines of The gathering of developed global leaders the tweet comes after US Chinese trade talks had stalled and there have been doubt over Whether an additional 25% tariff or more than 300 billion in Chinese goods would go into Effect soon further escalating the protracted Sino-American trade confrontation, which has hobbled global markets Equity indexes were already buoyant after ECB President Mario Draghi at an annual central bank conference in Cintra, Portugal Hey Portugal said policymakers would consider in the coming weeks how to adapt its policy tools Commensurate to the severity of the risk to the economic outlook a signal that the central bank may be willing to lower rates The central bankers remarks sent the euro Down sliding against the US dollar Draghi's comments come as the Federal Reserve kicks off its policy setting Tuesday with Expectation that policymakers will indicate a willingness to reduce benchmark borrowing costs this year amid global trade tensions a slowdown in the global economy as well as in the US investors desire to see if those Expectations match up to what the Fed is thinking though. No move on interest rates is expected as this week's meeting What are strategists saying the prospects of additional stimulus? Jolted stock markets higher and it appears the ECB is following in the Fed's footsteps of using dovish language wrote David Madden market analyst at CMC market UK in a Tuesday research note and his comments Will add further pressure on the US Federal Reserve to cut rates following his speech yields on a 10-year bond headed I think that's bond headed further into negative territory to around 30 bps forcing people's hunt for yield to continue a pace Mark Ben bow manager of the Cames short dated yield bond fund said in a note in the if the Fed doesn't appear sufficiently dovish Including taking the word patient out of their statement or the G20 meeting doesn't result in a significant progress in the trade war with China Then the market could experience a sharp pullback wrote Chris Zacharelli chief investment officer for independent advisor Alliance in a Tuesday research note So that's the news This is good news for the markets the markets are exploding on the news that this trade war might be coming to an end and that President Trump is close Having a very good telephone conversation with president XI Jin Ping Let's hope they get a deal done so that the markets continue to blow because we need it We love it when the markets are green because that's how we get paid. Okay. Now. Let's take a look at market watch real quick There we go. Dow Jones up 321 points and in the green S&P 500 up 30 points or 1% the Nasdaq up 118 points or 1.5 percent Global Dow up 1.19 percent or 35 and a half points. Gold is rising folks 1,350 for gold up eight points or 0.6 percent and oil is rising Everything is green up 1.85 percent or sorry 1.85 points or 3.54 percent Once again, the S&P 500 jumps to within 1% of record highs as Trump tweets plan for extended meeting with China's President XI, this is your boy rich from HDB live bringing you the news and I'm out