Wall Street Breakfast: Huawei Reprieve Provides Some Relief

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Reversing much of yesterday's decline, global stocks are in rebound mode following a move by the U.S. Commerce Department to ease restrictions on Huawei Technologies. Secretary Wilbur Ross said the Chinese telecom equipment supplier will be able to access U.S. technology for up to 90 days in order to maintain existing networks and handset updates, while American firms should use the time to source alternative suppliers. DJIA futures are ahead by 128 points on the news, though gains were capped amid tough trade rhetoric from China. Shares in Shanghai meanwhile closed up 1.2% on an injection of fresh liquidity from the PBOC.

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