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• European stocks rallied Tuesday, as the world's two largest economies sought to push forward with the next stage of trade talks.

The pan-European Stoxx 600 was up around 1.8 percent during deals, with all sectors and major bourses in positive territory.

Europe's basic resources sector — with their heavy exposure to China — were the top performers, up more than 3.6 percent amid renewed hopes of a trade agreement between Washington and Beijing. China's Vice Premier Liu reportedly confirmed the world's second-largest economy was still in talks with the U.S. in an effort to broker a comprehensive trade agreement on Tuesday. Antofagasta, Anglo American and Rio Tinto all rose more than 3 percent on the news.

• The Dow Jones Industrial Average closed lower on Tuesday after alternating between gains and losses throughout the session in the latest bout of market volatility.

The 30-stock Dow fell 53.02 points to 24,370.24. At its high of the day, the Dow rose as much as 368 points. It also fell as much as 202 points. The S&P 500 also slipped to close at 2,636.78 while the Nasdaq Composite rose 0.16 percent to 7,031.83.

Stocks initially rose more than 1 percent across the board amid signs that U.S.-China trade relations could be improving.

• Jeffrey Gundlach, chief executive of DoubleLine Capital, said Tuesday on an investor webcast that the Standard & Poor’s 500 Index is likely to go below its February 2018 lows.

Gundlach said global economic growth is slowing and weighing on corporate profitability, which will pressure U.S. stocks. But another dynamic that has been adding to the sell-off in equities is the unwind of the Federal Reserve’s massive balance sheet, he said.

• Asian stock markets edged ahead on Wednesday as U.S. President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with talk of an imminent party coup against British Prime Minister Theresa May.

In an interview with Reuters, Trump said talks were taking place with Beijing by phone and he would not raise tariffs on Chinese imports until he was sure about a deal.

Trump also said he would intervene in the Justice Department’s case against a top executive at China’s Huawei Technologies if it would serve national security interests or help close a trade deal.

• Japan’s Nikkei rose 1.5 percent, while E-Mini futures for the S&P 500 were up 0.07 percent.

• Sterling slid on reports Conservative lawmakers could vote on a no confidence motion in May’s leadership as soon as Wednesday night.

Reference: CNBC, Reuters