Global stocks mixed after Biden, Xi hold video summit

BEIJING – Global stocks were mixed Tuesday aft President Joe Biden and China's Xi Jinping held a acme gathering by video link.

Tokyo, Hong Kong and Frankfurt advanced, portion Shanghai declined. London and Wall Street futures were little-changed.

Biden and Xi announced nary agreements aft their gathering but said their governments request to tread cautiously amid hostility implicit trade, Taiwan and different irritants.

Biden told Xi their extremity should beryllium to guarantee contention “does not veer into conflict.” Xi said helium was acceptable to “build consensus" and said the 2 sides request to amended communication.

In aboriginal trading, the FTSE 100 successful London mislaid little than 0.1% to 7,350.82 portion Frankfurt's DAX precocious 0.2% to 16,174.84. The CAC 40 successful Paris added 0.3% to 7,149.45.

The aboriginal for Wall Street's benchmark S&P 500 scale was unchanged and that for the Dow Jones Industrial Average was disconnected 0.1%.

On Monday, the S&P 500 and the Dow mislaid little than 0.1%. The Nasdaq composite besides declined little than 0.1%.

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In Asia, the Shanghai Composite Index fell 0.3% to 3,521.79 portion Tokyo's Nikkei 225 added 0.1% to 29,808.12. little than 0.1% to 29,783.18. The Hang Seng successful Hong Kong was up 1.3% astatine 25,713.78.

The Kospi successful Seoul mislaid little than 0.1% to 2,997.21 and Sydney's S&P-ASX 200 shed 0.7% to 7,420.40.

India's Sensex sank 0.6% to 60,378.89. New Zealand declined portion Southeast Asian markets rose.

Also Tuesday, the Commerce Department was owed to study U.S. retail sales.

U.S. investors are shifting absorption from the latest firm profits to economical issues that volition find maturation into 2022. That includes proviso concatenation problems and rising inflation.

Investors volition beryllium watching for immoderate signs ostentation is crimping concern operations oregon user spending. Businesses person raised prices to walk on higher costs of materials. Consumers person taken that successful stride, but analysts interest they mightiness commencement to propulsion backmost connected spending.

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Investors besides are waiting to spot whether Biden decides to nominate Federal Reserve president Jerome Powell for a caller word to pb the U.S. cardinal bank.

Chinese information reported Monday showed October retail income maturation weakened compared with the erstwhile month, weakened by anti-coronavirus restrictions and user unease implicit a question of outbreaks.

In vigor markets, benchmark U.S. crude roseate 55 cents to $81.43 per tube successful physics trading connected the New York Mercantile Exchange. The declaration precocious 9 cents Monday to $80.88. Brent crude, utilized arsenic the terms ground for planetary oils, added 73 cents to $82.77 per tube successful London. It sank 12 cents the erstwhile league to $82.05 per barrel.

The dollar roseate to 114.18 yen from Monday's 114.09 yen. The euro declined to $1.1370 from $1.1386.

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