U.S. Equity Markets advanced on optimism that the U.S. and China will make progress in trade talks this week despite some conflicting signals on the outlook. Treasury yields climbed. The S&P 500 Index ended the day up almost 1% in a rally fuelled by speculation that China is still open to a partial deal with the U.S. But in a sign of how tenuous the new-found confidence is, stocks pared gains in the afternoon after a report that China sought to tamp down expectations for progress. Ten-year Treasury yields climbed past 1.55%. The Turkish currency and its stocks dropped after the country began a military offensive in Syria against Kurdish militants. The Stoxx Europe 600 Index advanced for the third day in four. Thursday morning was not one for coffee breaks for traders in Asia, with markets whipsawed by contrasting headlines on the chances of some sort of progress in critical U.S.-China trade talks. Futures on the S&P 500 Index initially fell sharply on concerns that the negotiations — scheduled for Thursday and Friday in Washington — might be cut short. They erased most losses after news from Bloomberg that next week’s tariff hike could be suspended and a report from the New York Times that President Donald Trump could let some U.S. companies supply Huawei Technologies Co.
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