Current stock market: Ahead of a meeting between Biden and China's Xi, global shares are mainly up.

                                                            Source Washingtonpost.com

 Current stock market: Ahead of a meeting between Biden and China's Xi, global shares are mainly up.

Hongkong  — Ahead of this week's meeting between U.S. President Joe Biden and Chinese leader Xi Jinping, as well as the release of economic statistics from China, Japan, and the United States, global stocks were largely up on Monday.

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The Paris CAC 40 gained 0.4% to 7,072.32, while Germany's DAX increased 0.4% to 15,287.05. The FTSE 100 in Britain increased 0.4% to 7,386.42. S&P 500 futures saw a 0.3% down, while Dow Jones Industrial Average futures saw a 0.2% decline.

The presidents of the two largest economies in the world, Biden and Xi, are scheduled to meet in person for the first time in a year on Wednesday, outside of a Pacific Rim meeting in California.

Both want to increase the level of stability in a relationship that is characterized by disagreements over export laws, hostilities over Taiwan, conflicts in the Middle East and Europe, and other areas of contention.

Investor attention is also focused on the U.S. consumer price and retail sales figures, which are scheduled for release on Tuesday and Wednesday, respectively. China will provide a monthly update on manufacturing output and other indicators, while Japan will release its economic growth statistics on Wednesday.

Monday saw a 1.4% increase in the Hong Kong Hang Seng to 17,440.73 and a 0.3% increase in the Shanghai Composite index to 3,046.53.

Alibaba Group Holding and JD.com, who are battling a fierce price war and China's patchy economic recovery, announced an increase in sales for this year's Singles' Day shopping event. However, neither business provided precise revenue data.

The Nikkei 225 index in Tokyo increased by 0.1% to 32,585.11. S&P/ASX 200 Australia down 0.4% to $6,948.80. The Kospi in South Korea was down 0.2% at 2,403.76.

Investor attention is also focused on the U.S. consumer price and retail sales figures, which are scheduled for release on Tuesday and Wednesday, respectively. China will provide a monthly update on manufacturing output and other indicators, while Japan will release its economic growth statistics on Wednesday.

Wall Street saw a big increase on Friday, adding to the strength of November, which is expected to be one of the greatest months of the year for the market. The US Federal Reserve was expected to raise interest rates in December, but this was not the case despite a study that indicated consumer inflation expectations were rising.

The Dow climbed 1.2% and the S&P 500 increased 1.6%. The Nasdaq increased by 2%.

According to the Federal Reserve, maintaining such low expectations is important to avoid creating a vicious cycle that sustains excessive inflation.

In addition to depressing stock and other investment prices, high interest rates and bond yields also slow down the economy as a whole and put more strain on the financial system in an attempt to control inflation.

A surge in Treasury yields on Thursday caused equities to drop, ending the S&P 500's eight-day winning streak—one of the longest in the previous 20 years. That came after traders' growing optimism that the Fed could finally be done raising its benchmark interest rate was shattered by Federal Reserve Chair Jerome Powell.

However, as of late Friday, traders were placing bets on a mere 9.1% likelihood, based on data from CME Group, that the Fed will raise its benchmark interest rate at its upcoming meeting in December. That is less than it was the day before—14.6%.

Three weeks of decreases in oil prices were extended as concerns about how the Israel-Hamas conflict may affect supplies subsided and Russian and American crude shipments increased.

A barrel of standard U.S. crude for December delivery on the New York Mercantile Exchange fell 73 cents to $76.44 in early trade on Monday. On Friday, it increased by $1.43 to close at $77.17.

The global benchmark, Brent crude, was down 80 cents at $80.63 a barrel. It increased by $1.42 to $81.43 per barrel on Friday. Despite this, both saw a nearly 4% loss last week due to concerns about supply exceeding demand.

In exchange rate transactions, the dollar reached a one-year high of 151.85 Japanese yen from 151.47 yen. The euro increased somewhat from $1.0681 to $1.0689.

Source Washingtonpost.com