White House adviser Kudlow: No deal expected in next week's China trade talks

In an interview with CNBC, White House economic adviser Larry Kudlow said that the was not expecting a "grand deal" from the trade talks that will take place in China next week.

"US trade negotiators hope to reset the stage for trade talks to where they were when talks collapsed in May," Kudlow explained and added that he was not expecting the US to continue to impose tariffs if talks were to go well. Regarding the trade dispute with Europe, "Europe auto tariffs are on hold for months," Kudlow stated. 

With investors cheering upbeat earnings figures from technology companies, Wall Street stays in the positive territory, ignoring the above-seen comments.