➤ Stocks largely up as Beijing says U.S., China to meet face to face in October.
➤ U.S. private-sector job growth highest in four months in August.
➤ British pound strengthens amid reduced hard Brexit risks.
Global stocks largely rose Sept. 5 and the U.S. dollar fell as China announced a schedule for face-to-face talks with U.S. negotiators and U.S. private-sector job growth climbed to the highest level in four months.
China will head to Washington in early October to restart trade talks with its U.S. counterparts, with preparatory consultations to be held in mid-September. Washington reportedly said trade talks will be held "in the coming weeks."
The U.S. started imposing new tariffs on a host of Chinese products Sept. 1, while China introduced duties on U.S. crude oil.
The S&P 500 and Nasdaq 100 gained 0.9% and 1.1%, respectively, around 9:30 a.m. ET. Employment growth in the U.S. private sector climbed estimates in August. In Europe, Germany's DAX rose 0.8% and France's CAC 40 increased 1%, while London's FTSE 100 fell 0.7%.
"At the risk of being cynical, we've been here so many times before and been disappointed so there is little expectation that this rebound will be any different," wrote Michael Hewson, chief market analyst for CMC Markets UK.
In Asia, the Shanghai SE Composite advanced nearly 1% while Japan's Nikkei 225 jumped 2.1%. Hong Kong's Hang Seng Index was broadly flat following yesterday's rally.
In currencies, the British pound jumped 0.7% around 9:30 a.m. ET as U.K. Prime Minister Boris Johnson failed in his bid to trigger early elections. The House of Commons approved legislation designed to stop an abrupt no-deal Brexit next month and instead seek another delay to the U.K.'s departure from the European Union.
Amid mounting Brexit uncertainties, the Bank of England scaled back its worst-case scenario for a no-deal departure to a loss of output to the U.K. economy of 5.5% of GDP, down from 7.5% in November.
The euro gained 0.4% versus the dollar, while the safe-haven Japanese yen fell 0.4%. The Dollar Index, which tracks the U.S. currency's performance against a basket of peers, slipped 0.3%.
Bonds declined as yields on 10-year Treasurys added 6 basis points to 1.531%.
Minneapolis Fed President Neel Kashkari warned the U.S. central bank against ignoring recent inversions in the yield curve given that the bond market signal is the "single best predictor" of a U.S. recession.
German Bund yields due in a decade rose 7 basis points to negative 0.604%.
In commodities, Brent crude oil rose 1% to $61.30 per barrel on the ICE Futures Exchange. Gold dropped 1%.
More from S&P Global Market Intelligence:
Earnings at leveraged loan issuers slump, adding more scrutiny to $1.2T market
Global i-banks' H1 revenues fall to lowest level since 2006
Carolinas prep for Hurricane Dorian's arrival; Florida spared storm's worst
Coal sector focuses on shareholder value, benefiting a handful of investors
The day ahead:
10 a.m. ET — U.S. factory orders (Econoday consensus: 1.0% month over month)
10 a.m. ET — U.S. Institute For Supply Management nonmanufacturing index (Econoday consensus: 54.0)
10:30 a.m. ET — U.S. Energy Information Administration natural gas report
11 a.m. ET — EIA petroleum status report
4:30 p.m. ET — U.S. Fed balance sheet
4:30 p.m. ET — U.S. money supply
7:30 p.m. ET — Japan household spending
