President Donald Trump on Tuesday said he would be willing to stretch his March 1 deadline for reaching a deal with China if it appears the two sides are close to an agreement.
And while Trump expressed his displeasure at a border security deal struck by congressional negotiators that would avoid a US government shutdown, he stopped short of rejecting the agreement.
European markets opened higher on Wednesday, following a positive trading session in Asia. Stocks in mainland China were the biggest winners, with indexes in Shanghai and Shenzhen advancing roughly 1.8%.
The Dow Jones industrial average closed 1.5% higher on Tuesday. The S&P 500 gained 1.3% and the Nasdaq added 1.5%.
2. Heineken's non-alcoholic star: Shares in Heineken (HEINY), the world's second largest brewer, shot up as much as 5% in Amsterdam after the company reported earnings.
The Dutch company reported sales growth of 6%, with its flagship Heineken brand posting its strongest results in a decade.
The owner of other brands including Sol, Tiger and Amstel also touted a strong performance from its non-alcoholic beer, Heineken 0.0, which is now available in 38 countries, up from 16 in 2017.
Heineken made a huge bet on China in August, buying a 40% stake in China Resources Beer, the maker of Snow. The transaction is awaiting regulatory approval.
3. Oil gets a boost: US crude futures were trading 1.2% higher at $53.77 per barrel. Brent crude, the international benchmark, added 1.6% to trade at $63.40 per barrel.
Oil prices gained well over 1% on Tuesday after OPEC's monthly report showed its production had fallen by 800,000 barrels per day in January.
A report by the International Energy Agency published Wednesday estimated the drop was even bigger. It said the cartel's output fell 930,000 barrels a day during the month.
OPEC and its allies including Russia have pledged to reduce their production by 1.2 million barrels a day starting January in an attempt to stabilize the market.
Cartel members agreed to cut 800,000 barrels a day, while Russia said it would slash production by 400,000 barrels a day.
The IEA said that Saudi Arabia, the United Arab Emirates and Kuwait cut more than they were required in January. Russia was almost 200,000 barrels a day above its target.
4. Earnings and economics: DISH Network (DISH), Hilton (HLT) and Wyndham Hotels & Resorts (WH) will release earnings before the open.
Cisco Systems (CSCO), Fossil (FOSL), Hyatt Hotels (H), MGM Resorts (MGM), Sleep Number (SNBR) and Yelp (YELP) will follow after the close.
The US Bureau of Labor Statistics will release its January inflation report at 8:30 a.m. ET.
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