Wall Street opens a little higher; Home Depot up by 4%

BEIJING (AP) – Shares open slightly higher on Wall Street on Tuesday led by gains in the discretionary consumer sector …

BEIJING (AP) – Shares opened slightly higher on Wall Street on Tuesday amid gains in the discretionary consumer sector. Home Depot leads the S&P 500 winners after hardware chain sales continued to rise in the last quarter in a hot housing market. New data also showed that Americans increased their spending sharply last month, pushing up retail sales and giving the economy a boost. The S&P 500 and Dow Jones Industrial Average rose 0.3% in early trading, and the Nasdaq index rose 0.2%. Global stock markets are mixed after President Joe Biden and China’s Xi Jinping held a video summit.

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Global stocks were mixed on Tuesday after President Joe Biden and China’s Xi Jinping held a summit via video link.

Tokyo, Hong Kong and Frankfurt went forward, while Shanghai went back. London and Wall Street futures were slightly changed.

Biden and Xi did not announce any agreements after their meeting, but said their governments need to tread carefully amid tensions over trade, Taiwan and other annoying factors.

Biden told Xi that their goal should be to ensure that competition “does not fluctuate in conflict.” Xi said he was ready to “build consensus” and said the two sides need to improve communication.

In early trading, the FTSE 100 in London lost less than 0.1% to 7,350.82, while the Frankfurt DAX rose 0.2% to 16,174.84. The CAC 40 in Paris added 0.3% to 7,149.45.

The future of the Wall Street benchmark S&P 500 index was unchanged, and the future of the Dow Jones Industrial Average fell 0.1%.

On Monday, the S&P 500 and Dow lost less than 0.1 percent. Nasdaq composition also fell less than 0.1 percent.

In Asia, the Shanghai Composite Index fell 0.3% to 3,521.79, while the Tokyo Nikkei 225 added 0.1% to 29,808.12. less than 0.1% to 29,783.18. Hang Seng in Hong Kong rose 1.3% to 25,713.78.

Kospi in Seoul lost less than 0.1% to 2,997.21 and Sydney’s S & P-ASX 200 fell 0.7% to 7,420.40.

India’s Sensex fell 0.6% to 60,378.89. New Zealand fell while Southeast Asian markets rose.

Also on Tuesday, the Department of Commerce was to report U.S. retail sales.

U.S. investors are shifting focus from recent corporate profits to economic issues that will determine growth into 2022. That includes supply chain problems and rising inflation.

Investors will keep an eye out for signs that inflation is hampering business operations or consumer spending. Companies have raised prices to pass on higher costs to materials. Consumers have taken it in stride, but analysts worry they may start pulling back on spending.

Investors are also waiting to see if Biden decides to nominate Federal Reserve Chairman Jerome Powell for a new term to head the US Federal Reserve.

Chinese data reported on Monday showed that growth in retail sales in October had weakened compared to the previous month, weakened by anti-coronavirus restrictions and consumer unrest over a wave of outbreaks.

In the energy markets, benchmark US crude rose 55 cents to $ 81.43 per barrel. barrel of electronic trading on the New York Mercantile Exchange. The contract rose 9 cents Monday to $ 80.88. Brent crude oil, used as the price base for international oils, added 73 cents to $ 82.77 per barrel in London. It dropped 12 cents the previous session to $ 82.05 per barrel.

The dollar rose to 114.18 yen from Monday’s 114.09 yen. The euro fell to $ 1.1370 from $ 1.1386.

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