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Top 5 Things to Know in the Market on Thursday

Investing.com - Here are the top five things you need to know in financial markets on Thursday, August 8:

1. China’s exports show encouraging signs

China’s exports registered a surprise return to growth in July, while imports fell less than expected.

The 3.3% increase in exports was the biggest since March, although economists warned it could be short-lived if Washington follows through with additional tariffs on Chinese goods in September.

Imports showed weakness with a 5.6% slide that nevertheless was less than consensus had feared.

Adding to better-than-expected trade data out of China, Beijing fixed the yuan Thursday at a firmer level than forecasts compiled by Bloomberg and Reuters, even though it was beyond 7 per dollar level for the first time since the global financial crisis.

2. Markets return to calm after wild ride

An impressive recovery on Wall Street after brief panic a day earlier boosted global stocks Thursday.

Positive Chinese trade data seemed to calm nerves further with investors selling off safe-haven assets - such as U.S. Treasuries, gold and the yen - and returning to equities.

Asian shares ended the session higher while European stocks advanced near midday trade in the region.

U.S. futures pointed to a higher open ahead of a smattering of earnings reports and the publication of weekly jobless claims.

3. Uber set to report after positive numbers from Lyft

Lyft (NASDAQ:LYFT) set the bar high on quarterly earnings for Uber (NYSE:UBER) as the latter prepares to report after the market close.

Lyft’s quarterly revenue beat consensus and its net loss narrowed substantially as its price war with Uber eased, allowing it to lifted its full-year guidance.

Lyft shares surged 6% in premarket while Uber jumped nearly 5%.

Amid other companies on the earnings calendar, Kraft Heinz (NASDAQ:KHC) and Viacom (NASDAQ:VIAB) will release quarterly numbers ahead of the open while Dropbox (NASDAQ:DBX) and News Corp (NASDAQ:NWSA) will join Uber after the close.

4. Netflix grabs Game of Thrones creators; Microsoft and Samsung hook up

Outside of earnings in company news, Netflix Inc (NASDAQ:NFLX) beat out Walt Disney (NYSE:DIS) and Amazon(NASDAQ:AMZN) in a bidding war to score a multi-year deal with “Game of Thrones” creators David Benioff and Dan Weiss, according to media reports.

The Hollywood Reporter said the deal was valued at $200 million.

Microsoft (NASDAQ:MSFT) Chief Executive Officer Satya Nadella appeared as a surprise guest at Samsung’s (KS:005930) launch of its Galaxy Note 10, announcing new features that let Android mobile apps sync with Windows PCs.

5. Oil rebounds from 7-month lows on Saudi move to support prices

Oil bounced back from its lowest in nearly seven months as Saudi Arabia reportedly contacted other producers to discuss action on halting a plunge in prices.

With oil prices down more than 10% this month on fears the U.S.-China trade conflict will dampen global demand, Bloomberg citied an unnamed Saudi official as saying the de facto OPEC leader will not tolerate continued price weakness and is considering all options.

Read more: With Oil Prices Falling, Can Shale Drillers Survive? - Ellen R. Wald

-- Reuters contributed to this report.

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