The trade tariffs aren't perturbing equity investors so far

A complete turnaround now after the reopen of Chinese markets following the lunch break. US tariffs kicked in right as the break started and the Shanghai Composite was down 0.3% before but is now trading at the highs up 0.8%. The Hang Seng index also sees a similar turnaround and is up 0.8% as well.

Given the response that we're seeing here, it's looking to set up a positive day for European stocks and risk assets ahead of the US jobs report later on in the day. The only risk to all of this is China escalating tensions further, and all it takes is one really negative headline to spoil the whole party.