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In the more than a year-long trade war between the US and China, last Thursday was one of the few good days.

Our top story of the morning, US Equity Futures jumping after China's Commerce Ministry saying the US and China have agreed to phase out the tariffs

that were imposed during the trade war. Stocks rallied on the breakthrough, but the

euphoria didn't last for long.

Just a day after China said the two countries agreed to roll back tariffs on each other's goods,

which by the way U.S. officials echoed too, President Trump himself came out and denied he's agreed to anything.

This let down, that they couldn't even agree on whether there was an agreement.

It was just one more reminder that this trade war is far from over.

What hangs in the balance is of course the health of the entire global economy.

There was about 700 billion dollars in trade between the US and China last year.

But with numbers that big, it's easy to forget that this is about more than just geopolitics or foreign exchange rates or corporate earnings.

It's also about the lives of a lot of people around the world, whose jobs and businesses depend on the two countries getting along.

For them, this last year has been their own personal nightmare.

A lot of sleepless nights considering an uncertain future caught in the middle of two quarreling

superpowers.

Breaking tonight serious punching and counter punching taking place right now in what has become a full-fledged trade war between the US

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