Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
China logged stronger-than-expected trade data in August as imports unexpectedly rose for the first time in nearly two years and the slump in exports abated, Reuters reported on Thursday, citing official data.
Exports in the world's second-largest economy fell 2.8 percent in dollar terms on-year following July's 4.4 percent drop and beating Reuters expectations for a 4 percent decline.
Imports unexpectedly rose 1.5 percent on-year, reversing a 12.5 percent fall in July and coming in better than Reuters' estimated 4.9 percent fall. August's increase was the first on-year rise in imports in dollar-denominated terms since October 2014.
That brought a trade surplus of $52.05 billion, slightly below July's $52.31 billion, which was a seven-month high, and missing estimates for $58 billion.
The Australian dollar, considered a proxy for China's economy, edged up to $0.7683 against the greenback, from $0.7677 ahead of the data.
Mainland and Hong Kong equity markets were little changed.
Despite the encouraging data, sluggish global demand will still weigh on China's export and manufacturing outlook, economists at ANZ said in a note.
"The PMI indicated that new export orders in August continued to stay contractionary, albeit with a slight improvement. The latest U.S. ISM data also disappointed by a large margin," ANZ said.
Moreover, Thursday's data may be revealing a lag-effect, Sadiq Currimbhoy, global investment strategist at Maybank Kim Eng, told CNBC's Street Signs.
The property market, nearly 8 percent of the economy from a gross domestic product (GDP) perspective, has been growing but that hasn't translated to a sustained improvement in imports, he warned. "It's been a concentrated impact to certain parts of the consumer cyclical sector [such as auto-sales], we're concerned about that."
He expects to see better trade numbers over the next few months given the strength of the property market.
But Thursday's data could be a bright spot for global trade amid current woes about protectionism, the downfall of South Korea's Hanjin Shipping and stalled progress on agreements such as the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership.
The World Trade Organization anticipates global trade to register its fifth straight year of sub-3 percent growth, citing lower trade value on the back of shifting exchange rates and falls in commodity prices.
China's appetite for goods and services greatly influences trade flows so greater import demand can help reinvigorate global exports.
Thursday's report was one of many China data points on tap this week.
On Wednesday, Beijing reported August FX reserves fell to $3.185 trillion, their lowest level since 2011. Meanwhile, consumer price inflation (CPI) and producer price inflation (PPI) data for August are due Friday.