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 U.S. President Donald Trump will meet with Chinese Vice Premier Liu He, who is leading trade talks with U.S. officials in Washington, at the White House on Friday, the White House said on Thursday.
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 Californians voted overwhelmingly against Donald Trump in the 2016 presidential election, but they might be surprised to learn they owned as much as one-third of the parent company of the National Enquirer, which helped Trump's campaign by reportedly supressing potentially damaging news stories, the Los Angeles Times reported Thursday. CalPERS, California's public pension fund, which is funded by taxpayers and state employees, was one of the largest investors in American Media Inc. as of 2016, the Times reported. It is unclear if it still holds that stake. Through public filings, the Times found CalPERS's stake came from an investment managed by a New Jersey hedge fund. The tabloid was most recently accused of trying to blackmail Amazon.com Inc. CEO Jeff Bezos with salacious photos. A CalPERS spokeswoman told the Times "CalPERS does not align itself with American Media's business actions," or endorse it. A Stanford economics professor told the Times that many Californians would be unhappy to learn they may have helped fund pro-Trump efforts: "That's going to make them feel real good about their pension fund managers!" he said sarcastically.
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As the talks wear on, key demands could be softened in order to seal an agreement.
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U.S. stock benchmarks opened lower Thursday as investors awaited the start of a fresh round of talks on trade between the U.S. and China and as a mixed bag of data, with a focus on the first negative reading of Philadelphia-area manufacturing activity since 2016, caused a pause in buying. The Dow Jones Industrial Average edged 52 points, or 0.2%, at 25,885, while the S&P 500 index edged 0.3% lower at 2,776, and the Nasdaq Composite Index fell 0.3% at 7,469. Drawing the most attention in the morning was apparent weakness in manufacturing, with a reading of Philadelphia-area performance, known as the Philly Fed index, in February dropping sharply in to negative territory. The index fell to a seasonally adjusted reading of -4.1 from 17 in the prior month, marking the first negative read since May of 2016 and falling below expectations for 14, based on a survey of economists polled by Econoday. Minutes from the Federal Reserve on Wednesday also appeared to signal a central bank in pause mode, but some signs of a split in how members of the Fed viewed the outlook for the economy may be stoking some anxiety. Meanwhile, current U.S.-China trade negotiations remained in focus after President Donald Trump signaled he would be flexible on the March 1 deadline for an agreement. Midlevel U.S. and Chinese negotiators having been holding meetings this week.
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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