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WH adviser Kudlow: If China does not meet targets on purchases, it will trigger dispute resolution

If China fails to meet its commitment on additional purchases under phase-one trade deal, a dispute resolution will be triggered, White House economic adviser Larry Kudlow told reporters on Wednesday and noted that he expects China to make the necessary changes in accordance with the deal immediately.

Earlier in the day, Kudlow told Fox News that the phase one deal will include additional purchases of $40 billion in services, a majority of which will be financial.

The market sentiment stays positive as investors are waiting for the details of the deal. As of writing, the Dow Jones Industrial Average was up 0.45% on the day and the Nasdaq Composite was adding 0.3%.

Wall Street modestly higher supported by strong gains in defensive stocks

Wall Street's main indexes started the day in the negative territory but started to push higher boosted by the strong performance of the defensive sec
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