Beijing big brother mints billionaires

U.S.-China trade talks appear to be making progress, yet American stocks fell in thin trading Thursday as a rash of economic data disappointed investors. Here are some of the things people in markets are talking about.

President Donald Trump plans to meet with China’s top trade negotiator Friday afternoon as the U.S. tries to forge a preliminary deal with its biggest economic rival before tariffs on some Chinese imports more than double next month, two people familiar with the matter said. The meeting with Chinese Vice Premier Liu He would cap the latest round of talks in Washington, with Trade Representative Robert Lighthizer leading the U.S. delegation. Plans for a meeting between Trump and Liu signal optimism that talks are making sufficient progress to warrant another face-to-face meeting between the two men. As the discussions continued Thursday, reports emerged that negotiators are working on memorandums of understanding that would form the basis of a final deal. The MoUs would cover areas including agriculture, non-tariff barriers, services, technology transfer and intellectual property, according to a person briefed on the talks.