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Optimism that a trade agreement will be made between the U.S. and China grew during the week. Equities rallied on Thursday on news that the U.S could ease tariffs on Chinese goods. However, the statements were retracted and markets fell from highs during the day. This news was followed up with a Bloomberg report that China is prepared to increase U.S. imports to $1 trillion a year. According to the report, China offered "a six-year buying spree to ramp up imports from the U.S., in a move that would reconfigure the relationship between the world's two largest economies." Markets rallied on the report, resulting in the S&P 500 exiting correction territory. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!