Global stocks were mostly higher on Monday as China’s leaders kicked off a major meeting expected to deliver fresh pledges of aid to the world’s second-largest economy.
After that, the price of oil increased by more than 1 dollar per barrel OPEC+ oil producing countries He said that he will extend the period of production reduction until the end of the year.
The reason for this move, which was taken earlier by the US, was not disclosed presidential election on tuesday.
In electronic trading on the New York Mercantile Exchange, benchmark US crude oil rose by $1.41 to $70.90 per barrel. The international standard of Brent oil rose by $1.37 to $74.47 per barrel.
In early European trade, Germany’s DAX fell 0.1% to 19,228.81, while Paris’s CAC 40 fell 0.1% to 7,401.11.
Britain’s FTSE 100 rose 0.3% to 8,199.56.
Futures for the S&P 500 rose 0.1%, while the Dow Jones Industrial Average fell 0.2%.
China’s National People’s Congress Standing Committee is meeting this week and analysts have predicted the government could approve two consecutive major spending initiatives to boost the economy. a quarter of the increase about 5% lower than the government’s plan for the year.
“Markets are buzzing with whispers of a new stimulus package, setting expectations high and creating a buzz that’s hard to ignore,” SPI Asset Management’s Stephen Innes said in a commentary.
Hong Kong’s Hang Seng rose 0.3% to 20,567.52, while the Shanghai Composite added 1.2% to 3,310.21.
Markets in Tokyo are closed for the holiday.
Australia’s S&P/ASX 200 rose 0.6% to 8,164.60, while Seoul’s Kospi added 1.8% to 2,588.97.
Taiwan’s Taiex rose 0.8%, while India’s Sensex fell 1.7%.
on friday Amazon US stock indexes increased, and a surprisingly weak jobs report broken through some special phenomena pegged Wall Street for another rate cut next week.
The S&P 500 rose 0.4%, recovering slightly from the previous day, its worst in eight weeks. The Dow industrials rose 0.7%, while the Nasdaq composite gained 0.8%.
Treasury yields rose after a report that said U.S. employers added only 12,000 workers to payrolls last month, falling short of the 115,000 jobs economists had expected or the 223,000 jobs employers added in September.
In a separate report, US manufacturing contracted more than economists expected last month. It was one of the sectors of the economy hardest hit by the Federal Reserve holding interest rates at their highest levels in two decades until September.
The consensus on Wall Street is that the Fed is expected to cut its key interest rate by a quarter of a percentage point next week.
The hope on Wall Street is that the economy will still avoid recession, even with a slowing labor market, thanks in part to the Fed’s interest rate cuts. The economy as a whole has been preserved so far more durable than feared.
In early Monday currency deals, the dollar fell to 152.17 yen from 152.42 yen late Friday. The euro rose to $1.0894 from $1.0881.
