This Stock Market Is Straight Out of ‘The X-Files’

“The X-Files” was a U.S. television series that followed the exploits of two FBI agents as they investigated the supernatural. It was eventually adapted into two films, with the second centering on a priest who may or may not be experiencing psychic visions. The title was “I Want to Believe,” which could also refer to the stock market on Wednesday.

The S&P 500 Index snapped a two-day decline, rising almost 1%. The catalyst was a Bloomberg News report that China is open to reaching a partial trade deal with the U.S. when talks resume Thursday. What would a partial deal look like? A little further down in the report we find that it would be just like those China has sought since 2017 to no avail, with Beijing offering concessions on matters like purchases of agricultural products in exchange for no more tariffs imposed by President Donald Trump. “It’s encouraging to hear China say that they want to make some sort of small deal,” Randy Frederick, a vice president of trading and derivatives at Charles Schwab corp., told Bloomberg News. “If we can get the two sides to agree to not raise tariffs any further than where they are, that would be positive.” But while investors want to believe such as deal is reachable, there’s just one not-so-minor sticking point: Bloomberg News points out that China in the past has offered to buy U.S. commodities and made other short-term gestures aimed at appeasing Trump only to be rebuffed and pushed with tariffs into pursuing a broader agreement.