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 The U.S. and China have tentatively agreed to a tariff truce in order to resume trade talks, the South China Morning Post reported Thursday. Details will reportedly be announced ahead of Saturday's meeting between Presidents Donald Trump and Xi Jinping at the G-20 summit in Osaka, Japan. The deal is expected to avert Trump's threat to extend 25% tariffs to another $300 billion in Chinese exports. China reportedly demanded additional tariffs be delayed as a condition to returning to negotiations, and it is still possible Trump will change his mind, the SCMP said.
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The Nasdaq Composite Index registered a modest gain on Wednesday, buoyed by a Micron Technologies-led rebound in chip makers, but the broader market finished slightly lower to flat, as selling in real estate, utilities and consumer staples weighed. The Nasdaq finished up 25 points, or 0.3%, at 7,910 (on a preliminary basis), halting three straight days of losses as upbeat quarterly results by Micron helped to inspire a rally in the semiconductor sector . However, gains faded in the last two hours of trade as investors wrestled with the coming G-20 gathering in Japan, where President Donald Trump and his Chinese counterpart, Xi Jinping, are expected to discuss a cease-fire in tariff tensions. Markets were higher in early trade after investors interpreted a CNBC interview of Treasury Secretary Steven Mnuchin in Bahrain as signaling hope for a Sino-American trade deal. Mnuchin said that an accord was 90% complete. The Dow Jones Industrial Average closed down 11 points, or less than 0.1%, at 26,536, while the S&P 500 index shed 0.1% to end at 2,914.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Latin American stocks mostly fell and
Brazil's real traded flat on Wednesday, while most other
regional currencies firmed on measured optimism around the
Sino-U.S. trade dispute.
Against a steady dollar, most Latam currencies recovered
from losses logged last session after comments by U.S. Federal
Reserve officials quashed hopes of a half-point cut in interest
rates.
Mexico's peso firmed 0.5% after three days of losses,
while
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 U.S. stocks closed mostly lower as investors grew nervous about the state of global trade.
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What Micron Said Seeking AlphaU.S. Companies Find Legal Ways Around Trump's Huawei Blacklist Yahoo FinanceThese semiconductor stocks are rising the most as Micron CEO is upbeat about Huawei and China MarketWatchHuawei Blacklist Loopholes Were Made in the U.S.A. BloombergMicron Trades Higher After Big Q3 Earnings Beat BenzingaView full coverage on Google News
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U.S. oil prices climb sharply Wednesday after the U.S. government reported a weekly drop of nearly 13 million barrels in domestic crude stocks, while gasoline futures rally by 5% on news a planned refinery closure.
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The price of bitcoin plunged more than $1,700 in 15 minutes Wednesday afternoon after the website of cryptocurrency exchange Coinbase apparently crashed. After topping a 17-month high above $13,700 earlier Tuesday, bitcoin sank below the $12,000 level, and was last trading around $12,400. A notice on Coinbase's website read "An error has occurred. We've been notified about the issue and are taking a look." The website appeared to be working again by 5:15 p.m. Eastern. According to the site's status page, the issue was "resolved" around 5:40 p.m. Eastern and all functions appeared operational. The digital currency is up 60% this month, and more than 230% year to date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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