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The US embassy in China announced that US Ambassador to China, Terry Branstad, will retire and depart Beijing in October, as reported by Reuters.

Earlier in the day, “I thank Ambassador Terry Branstad for his more than three years of service to the American people as US Ambassador to the People’s Republic of China,” US Secretary of State Mike Pompeo tweeted out.

Market reaction

This development doesn’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 futures were up 1.05% on a daily basis.