Global stocks rise as US averts government shutdown

BEIJING — Global stocks rose Tuesday after U.S. lawmakers reached a deal to avoid another government shutdown and ahead of U.S.-China trade talks later in the week.

In Europe, London's FTSE 100 rose 0.3 percent to 7,148 and Germany's DAX gained 1.2 percent to 11,144, while France's CAC 40 advanced 1.1 percent to 5,070. On Wall Street, futures for the Dow Jones Industrial Average and the Standard & Poor's 500 index were up 0.9 percent and 0.7 percent.

Market sentiment seems to have been bolstered somewhat by the deal reached in principle late Monday to avoid another bruising shutdown of the U.S. government. Details are set to be officially released Tuesday, but the Trump administration reportedly settled for a lower amount of funding for a barrier with Mexico in order to strike a deal.

The deal also reduces some uncertainty for investors as they focus on the trade war between the U.S. and China.

U.S. Treasury Secretary Stephen Mnuchin will lead a delegation to Beijing on Thursday to discuss American complaints about China's ambitions in the technology sector.

The dispute threatens to chill global economic growth. The talks are the last scheduled high-level meeting before an agreement by both sides to suspend further punitive action against each other's goods expires March 1.

"Investor sentiment remains cautious despite reports suggesting that President (Donald) Trump's advisers are discussing a potential summit with his Chinese counterpart Xi Jinping next month," Zhu Haini of Mizuho Bank said in a commentary.

ASIA'S DAY: Tokyo's Nikkei 225 rose 2.6 percent to 20,864.21 and the Shanghai Composite Exchange added 0.7 percent to 2,671.89. Hong Kong's Hang Seng was 0.1 percent higher at 28,171.33 and Seoul's Kospi gained 0.4 percent to 2,190.47. Sydney's S&P-ASX 200 advanced 0.3 percent to 6,079.10 and India's Sensex lost 0.2 percent to 36,303.11. New Zealand, Taiwan and Thailand rose while Singapore declined.

ENERGY: Benchmark U.S. crude gained $1.05 to $53.46 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 31 cents on Monday. Brent crude, used to price international oils, rose by $1.36 to $62.87 in London. It shed 59 cents the previous session.

CURRENCY: The dollar gained to 110.50 yen from Monday's 110.36 yen. The euro edged up to $1.1285 from $1.1279.

You may also like these

Amazon to block Australians from global websites...

Jun 1, 2018

Amazon will block Australians from buying from its international e-commerce websites and restrict...

Australian prime minister boasts security...

Feb 11, 2019

Australia's prime minister has described his government as stronger on national security than the...

Global stocks dip ahead of release of Fed minutes

Aug 17, 2016

Global stocks and the price of oil dipped Wednesday as investors awaited the release of the minutes...

Global stocks climb on signs US rate hike not...

Aug 18, 2016

Global stocks rose Thursday after Wall Street edged higher on news the U.S. Federal Reserve is in...

China tightens control of online news after...

Aug 19, 2016

The Chinese government is holding chief editors of news websites personally liable for content...

Search
Financial Markets

About Us

Established in 2015, The Upstocker provides insights on financial reports, commentary, and investment data to traders so that you can make better investment decisions.

Contact us: sales[at]theupstocker.com

Subscribe Now!