* European shares near four-month peak, Italy bond selloff relents
* Dollar eases off highs while gold steadies
* Oil rises to $80 per barrel (Updates with opening of U.S. markets, changes dateline; previous LONDON)
By Laila Kearney
New York, May 22 (Reuters) - Global stocks were mixed on Tuesday as Wall Street investors locked in recent gains while European shares approached four-month peaks as pressure eased on Italy's debt markets and as China moved to further open up its economy.
Washington neared an agreement to lift its ban on U.S. firms supplying to Chinese telecoms gear maker ZTE Corp (HK:0763) 000063.SZ , sources said, while Beijing said it would steeply cut import tariffs for automobiles and car parts. boosted auto stocks, with Ford F.N , General Motors (NYSE:GM) GM.N , and U.S.-listed shares of Fiat FCAU.N up between 1 percent and 2.4 percent. .N
Europe's big carmakers Volkswagen VOWG_p.DE , BMW BMWG.DE and Daimler DAIGn.DE jumped 1 to 1.6 percent too. .EU
The Dow Jones Industrial Average .DJI fell 9.25 points, or 0.04 percent, to 25,004.04, the S&P 500 .SPX gained 6.02 points, or 0.22 percent, to 2,739.03 and the Nasdaq Composite .IXIC added 13.49 points, or 0.18 percent, to 7,407.52.lost 0.18
"The market is taking very well to what appears to be the fact that (President Donald) Trump is able to maneuver the trade talks in our favor," said Andre Bakhos, managing director at New Jersey-based Janlyn Capital LLC, of the mostly upbeat tone. "We're seeing a continuation of that positive momentum."
Early European trading saw Italian government bond yields come off 14-month highs, after six days of heavy selling on concerns over high-spending policies mooted by a potential new ruling coalition. proposed tie-up of the anti-establishment 5-Star Movement and the far-right League has pushed Rome's 10-year yields up nearly 70 basis points since the start of the month.
MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.36 percent, while the pan-European FTSEurofirst 300 index .FTEU3 rose 0.46 percent.
Oil jumped to $80 a barrel, its highest since late 2014, on expectations Venezuelan crude output and a possible reduction in Iranian exports could further curb global supply. crude CLcv1 rose 0.64 percent to $72.70 per barrel and Brent LCOcv1 was last at $80.25, up 1.3 percent.
After six days of gains, the U.S. dollar retreated as Treasury yields dipped and investors sought incentives to buy after a 7 percent rally since mid-February. dollar index, tracking it against a basket of major currencies, was down 0.1 percent at 93.584 .DXY . It was on track for its largest daily loss in two weeks.
Gold steadied as the dollar lost momentum, but risk appetite in the broader financial market cooled the metal's gains. MSCI and Nikkei chart
http://reut.rs/2sSBRiD Equities and bonds total return index, USD
https://reut.rs/2GEwt8u
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