Stocks higher…Democrat budget clash
TOKYO (AP) – Global shares are rising as investor sentiment receives a big boost from the rally last week on Wall Street. In early trading, France’s CAC 40 edged up 0.6%, while Germany’s DAX inched up nearly 0.1%. Britain’s FTSE 100 added 0.3%. In Asian markets, Japan’s Nikkei closed 1.8% higher. South Korea’s Kospi jumped 1.0%, Hong Kong’s Hang Seng surged 1.1% and the Shanghai Composite added 1.5%. U.S. shares are set to drift higher, with Dow and S&P 500 futures both up 0.2%.
SINGAPORE (AP) – The White House says a series of new agreements with Singapore will help combat cyber threats, tackle climate change, address the COVID-19 pandemic and alleviate supply chain issues. Today’s announcement coincides with Vice President Kamala Harris’ visit to the region, as part of the Biden administration’s efforts to counter Chinese influence there. Harris is visiting Singapore and Vietnam this week with the goal of strengthening U.S. ties with Southeast Asia.
WASHINGTON (AP) – Nine moderate House Democrats are trying to upend leaders’ plans for enacting President Joe Biden’s multitrillion-dollar domestic agenda. Top Democrats want the House to quickly approve a budget resolution setting up future passage of legislation directing $3.5 trillion at safety net and environment programs. But the moderates are threatening to oppose the budget unless the House first approves a $1 trillion infrastructure package. And they have enough votes to block its approval in the narrowly divided chamber.
UNDATED (AP) – The U.S. Federal Reserve’s annual conference, to be held online later this week, could provide Wall Street with more insight into what the Fed may do about inflation. Last week, minutes from the most recent Fed meeting showed that officials had discussed reducing the central bank’s bond-buying program later this year to start winding down some of the emergency measures that were implemented during the pandemic. But they stopped short of setting a firm timeline.
BERLIN (AP) – Many train drivers with Germany’s national railway have walked off the job as their union embarks on its second two-day strike this month in a bitter dispute with the company. The GDL union called on passenger train drivers to strike from Monday morning to Wednesday morning. Freight train drivers already started their strike Saturday afternoon.