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Here is what you need to know. 1. Stocks are surging after China signals trade talks with the US could be back on. The US and China are discussing in-person trade talks that were scheduled for September, China's Commerce Ministry said on Thursday 2. The Trump administration never agreed to G7 financial aid for the Amazon fires, spokesman says. Trump, citing scheduling conflicts, was not present for Monday's session regarding biodiversity and climate at the G7 summit, but Macron said Trump had representatives at the meeting. 3. Scottish Conservative leader Ruth Davidson quits amid fury over Boris Johnson's plan to suspend parliament. She announced her resignation on Thursday morning amid widespread fury over Johnson's move in the weeks leading up to the United Kingdom's planned exit from the European Union. 4. China is blunting the blows of Trump's trade war and just grabbed an even bigger share of global exports. A weaker yuan and exporting via other Asian countries has helped China to counter Trump's tariffs. 5. The Italian president is expected to give a green light to a new government, capping an extraordinary three weeks that could mark a turning point in its frayed relations with the European Union. Italian stocks jumped on the news. 6. In its IPO documents, Peloton warned it's got some particular shortcomings as a business that could lead to fraud or financial restatement. Peloton on Tuesday made public its IPO paperwork. 7. Tesla said on Wednesday it was launching an insurance service designed to give drivers in California, its biggest market, lower rates because of safety features on its electric vehicles. Tesla said rates of its new plan were as much as 20% lower than those of rivals but did not provide comparisons. 8. Global stocks are rallying on possible trade war talks. US futures the S&P 500 (+1.0%) and the Nasdaq (+1.3%) are rising. In Europe, the Dax (+1.2%) is up as is Euro Stoxx 50 (+1.4%). In Asia stocks were mixed, the Nikkei (-0.1%) and the Shanghai Composite (-0.1%) sank on close but the Hang Seng (+0.3%) was up. 9. There are some interesting Chinese bank earnings out today. China Construction Bank is the highlight. 10. There's a stack of important data out today. GDP annualized is out as is initial jobless claims and personal consumption data. | 