Here is what you need to know.
1. The US and China have reportedly struck a truce in the trade war. The news raised hopes for a productive meeting between Donald Trump and Xi Jinping on Saturday.
2. Bayer is reviewing its legal strategy. The pharmaceuticals giant’s shares jumped 8% in pre-market trading after it hired an external lawyer and set up a committee to deal with lawsuits targeting its glyphosate weedkillers.
3. Companies are dodging Trump’s tariffs by sneaking Chinese goods through Vietnam. The strategy could spur Trump to slap tariffs on the Southeast Asian country.
4. Bitcoin’s surge may have ended for now. The cryptocurrency tumbled 12% on Thursday after rising more than 30% in the past week.
5. Abu Dhabi National Oil Company has sold 40% of its pipeline business. Buyers BlackRock and KKR will lease ADNOC’s interest in 18 pipelines for 23 years.
6. Huawei employees have worked with the Chinese military. The tech giant’s workers collaborated on at least 10 research projects with the state, deepening espionage concerns.
7. Amazon has partnered with Rite-Aid to launch a new in-store pickup option. The "Counter" service will launch in 100 stores and expand to 1,500 stores by the end of the year.
8. Stocks are up on signs of progress in the US-China trade war. Hong Kong’s Hang Seng led the pack in Asia (+1.4%), while Nasdaq futures were out front in the US (+0.3%).
9. Several big names are reporting earnings. Nike, Walgreens, Accenture, H&M, and ConAgra Foods are set to reveal their results later today.
10. There’s a raft of economic data coming out. The latest readings for GDP, personal consumption, jobless claims, and pending home sales will be revealed today.
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