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2018-11-02 — cnbc.com

When asked whether the president explicitly requested his top advisors to drum up a trade deal, Kudlow said "no." ... Kudlow's remarks contradicted a Bloomberg report from earlier on Friday that said Trump had asked officials to prepare a draft for a U.S.-China trade deal.

"It's still all about trade," said JJ Kinahan, chief market strategist at TD Ameritrade. "Most of the trading we're seeing is related to earnings or trade."

"The recent moves we're seeing are reflect a return to more historical levels of volatility," said Kinahan. "I don't think this will abate."

...

"Today's stronger than expected October employment report was a mixed bag for stocks," said Alec Young, managing director of global markets research at FTSE Russell. "On the positive side, strong job growth will allay fears of slowing economic growth. However, with wages up 3.1 percent year over year ... it will be more difficult for the Fed to slow its rate hiking campaign."

The Fed doesn't care about the economy "overheating" (especially since they know Trump would be pleased as punch about that) -- all the fundamental economic data does is provide them cover for (or an inconvenience with respect to) unwinding their giant post-crisis balance sheet.

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