London (CNN Business)1. G20 approaches: US President Donald Trump arrives Thursday in Osaka, Japan — setting the stage for a high stakes weekend of trade talks and diplomacy.

Trump’s meeting with Chinese President Xi Jinping on the sidelines of the G20 summit is highly anticipated, though it’s unclear if the two leaders will be able to reach a truce on trade when they meet Saturday. Trump said Wednesday that while a deal is possible, he’d be willing to impose substantial additional tariffs if no progress is made. Markets could be jumpy the rest of the week as they wait for news.2. Earnings time: Shares of H&M jumped 10% Thursday on signs that that the Swedish clothing retailer’s turnaround plans are starting to pay off.Read MoreH&M said that June sales are expected to pop 12% compared to the same time last year, indicating a solid start to the summer season. It also said it would open 45 fewer stores this year than previously expected. Then there’s Nike (NKE), which reports earnings after US markets close on Thursday. The company has been one of the strongest performers in retail in recent years. Sales grew 7% last quarter, including a 7% rise in its key North America market. Nike has been focusing on growing its women’s sneaker business and its online sales. “We see women embracing the sneaker culture more and more every day,” Nike CEO Mark Parker said in March.The company is also considered a global bellwether of consumer strength. Analysts will look to see if Nike has noticed any signs of a slowdown in the United States or China because of trade tensions.3. Markets rise: Global stocks point higher ahead the G20 meeting. The Dow is set to rise 60 points when US markets open, or 0.2%. The Nasdaq could jump 0.6% and the S&P 500 is set to increase 0.4%.Markets in Europe and Asia also indicate investor optimism. The FTSE 100 is up 0.2% in early trading, while Germany’s DAX jumped 0.6%. The Shanghai Composite rose 0.7%, while Hong Kong’s Hang Seng gained 1.4%.US stocks closed virtually flat on Wednesday.Before the Bell newsletter: Key market news. In your inbox. Subscribe now!4. Coming this week:Thursday — Nike and Walgreens (WBA) earnings; US GDP third estimateFriday — US personal income and spending data; Constellation Brands earnings

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