1. Futures go on a wild ride on mixed messages ahead of US-China trade talks
U.S. stock futures were lower Thursday morning ahead of the resumption of high-level U.S.-China trade talks. Mixed messages about the progress being made sent Dow futures on a wild ride overnight — from down 300 points at one stage to small gains to losses again. The Dow Jones Industrial Average broke a two-session losing streak on Wednesday, rising more than 180 points. However, the Dow was still on track for a fourth straight losing week with two trading days to go.
2. Expectations for a trade deal are low after this week's deputy-level groundwork
U.S. and Chinese negotiators are scheduled to begin a 13th round of talks Thursday aimed at ending a 15-month trade war that's worrying global investors and weighing on the world economy. However, expectations for a deal were low after the South China Morning Post said that no progress was made in deputy-level trade talks this week. The SCMP also reported that the Chinese delegation may cut its two-day U.S. visit short. That was knocked down by the White House, which later said the situation was fluid. Here's a timeline of the developments.
3. Hong Kong protests continue and so does the NBA's related fallout in China
Hong Kong prepared for more anti-government demonstrations Thursday as city shopping malls and the metro said they would close early to avoid becoming targets. Apple removed an app from its App Store that protesters in Hong Kong were using to track police movements. In the latest fallout over the Houston Rockets general manager's pro-Hong Kong protests tweet, all of the usual media sessions surrounding Thursday's Lakers-Nets preseason game in Shanghai were canceled. However, the game proceeded as scheduled.
4. Trump to hold a campaign rally as Biden calls for impeachment for the first time
President Donald Trump holds a campaign rally in Minneapolis on Thursday, the first such event since being engulfed in an impeachment inquiry. Ukraine's president said Thursday there was no blackmail during the July phone call with Trump that's since set in motion the House Democratic inquiry. Democratic presidential candidate Joe Biden, whom Trump asked the Ukraine leader on that call to investigate, called for impeachment for the first time.
5. Turkey seizes targets in Syria as Trump defends decision that led to the offensive
Turkey said its forces seized designated targets on the second day of an offensive against a Kurdish militia in Syria after a withdrawal by U.S. forces opened up a new phase in the region's 8-year-old conflict. Senior Republicans condemned Trump, accusing him of making way for the incursion and abandoning Syrian Kurds, who led the ground campaign against ISIS. The president defended his decision to allow the Turkish offensive, saying the Kurds did not help America during World War II. "Now the Kurds are fighting for their land," Trump told reporters.
— The Associated Press and Reuters contributed to this report.