Lower-level trade talks will be held on Aug. 22 and 23,
according to the Wall Street Journal, just as new U.S. tariffs
on $16 billion of Chinese goods take effect, along with
Beijing's retaliatory tariffs on an equal amount of U.S. goods.
Reports of the talks on Friday helped U.S. stocks close higher,
with shares of trade-sensitive industrial companies leading the
On Monday, shares of Boeing <BA.N> rose 0.7 percent and
Caterpillar <CAT.N> 0.1 percent in light premarket trading.
Nineteen of the 25 most actively traded U.S. stocks were higher,
including shares of a handful of chipmakers.
At 7:05 a.m. ET, Dow e-minis <1YMc1> were up 60 points, or 0.23
percent. S&P 500 e-minis <ESc1> were up 5.75 points, or 0.2
percent and Nasdaq 100 e-minis <NQc1> were up 25.5 points, or
Tesla <TSLA.O> shares dropped 2.8 percent after Reuters reported
that PIF, the Saudi Arabian sovereign wealth fund that Chief
Executive Elon Musk has said could help fund a $72 billion
go-private deal of the company, is in talks to invest in
aspiring Tesla rival Lucid Motors Inc.
Nike <NKE.N> was up 1.7 percent in light trading after two
brokerages raised their ratings on the stock.
SodaStream's U.S.-listed shares <SODA.O> jumped 10.1 percent
after PepsiCo <PEP.O> said it would buy the Israel-based
household drink-machine maker for $3.2 billion. PepsiCo's shares
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Anil
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