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(Reuters) - U.S. stock future opened higher on Sunday after Treasury Secretary Steven Mnuchin said on Sunday that the United States and China agreed to drop their tariff threats to work on a wider trade agreement.

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 18, 2018. REUTERS/Brendan McDermid

The S&P 500 E-mini futures EScv1 opened about 0.8 percent higher, the Nasdaq 100 e-minis NQcv1 opened nearly 1 percent higher with Dow e-minis 1YMcv1 also up 0.9 percent.

Mnuchin and U.S. President Donald Trump’s top economic adviser, Larry Kudlow, said an agreement reached by Chinese and U.S. negotiators on Saturday set up a framework for addressing future trade imbalances, effectively putting any trade war between the world’s largest economies on hold.

Reporting by Bill Berkrot; Editing by Sandra Maler

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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