Stocks across the world are marching higher after U.S.-China trade talks were extended for an unscheduled third day, fueling optimism that the world’s largest economies can avoid an all-out confrontation.
Progress was seen on issues including purchases of U.S. farm and energy commodities, as well as increased access to China’s markets, but the two sides were still ways apart on Chinese structural reforms that would stop alleged theft and forced U.S. technology transfer.
Asia: Nikkei +1.1%; Hang Seng +2.3%; Shanghai +0.7%; Sensex +0.1%.
Europe: FTSE 100 +0.8%. CAC 30 +1.1%. DAX +1.1%.
U.S. futures: Dow +0.4%; S&P 500 +0.4%; Nasdaq +0.5%.
Oil is up 1.1% at $50.33/bbl, gold is 0.1% lower at $1284/ounce and the 10-year Treasury yield is up 1 bps to 2.72%.
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