The biggest storyline continues to center around Mitch Marner, whose time with the Toronto Maple Leafs appears to be nearing its end. Andy Strickland reported definitively this week that Marner will not be returning to Toronto, with multiple sources indicating the 27-year-old winger is set to hit the open market.

The United States and China have agreed on a framework to implement their trade truce, officials on both sides said Wednesday, after concluding two days of talks in London to defuse tensions and ease export restrictions that threaten to disrupt global manufacturing.

As U.S. and Chinese officials concluded trade talks this week, new data shows massive tariffs drove Chinese imports to their lowest levels in more than five years. U.S. tariffs on Chinese goods topped out at 145% in April when the Census Bureau collected trade data that showed a continuing decline in Chinese imports from March.

Chinese exports of rare earth minerals, which are vital to carmakers and other industries, and China's access to high-end technology from the U.S., including computer chips, are high on the agenda.

The broad index is now less than 2% below its all-time high.

US stocks closed higher as investors wait for news from another day of China-US trade talks in London. Key inflation data are also ahead.

Sir Keir Starmer flies to Canada later to meet Mark Carney, the former governor of the Bank of England who became his country's prime minister in March. The two men will get together in the Canadian capital Ottawa on Saturday evening,

• Semtech has a price-to-sales (P/S) ratio of 3.4 against a figure of 3.0 for the S&P 500 • Additionally, the company's price-to-free cash flow (P/FCF) ratio is 52.6 compared to 20.5 for the S&P 500