Global Stocks Mostly Rise as China Kicks Off Major Economic Meeting

Global stock markets were mostly higher on Monday as China began a significant economic meeting expected to introduce new measures to support its economy, the world’s second-largest. Meanwhile, oil prices jumped by over $1 per barrel after OPEC+ announced plans to extend output limits through the year-end, though no specific rationale was provided for the timing, just ahead of the U.S. presidential election.

In the energy sector, U.S. benchmark crude oil rose by $1.41 to $70.90 a barrel on the New York Mercantile Exchange, while Brent crude increased by $1.37 to $74.47. In European markets, Germany’s DAX and France’s CAC 40 saw slight declines of 0.1%, while Britain’s FTSE 100 rose by 0.3%. On Wall Street, investor sentiment remains positive, with expectations that the U.S. economy may avoid a recession despite a cooling labor market, partly due to potential Federal Reserve interest rate cuts.