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Stock market today: Asian shares are mostly higher as China begins major economic meeting

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Shares are mostly higher in Asia as China's leaders begin a major meeting expected to bring fresh pledges of help for the world's second-largest economy. Oil prices gained more than $1 a barrel after the OPEC+ oil producing nations said they would extend production cuts until the end of the year. On Friday, the S&P 500 rose 0.

A currency trader walks by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, Nov. 1, 2024. Currency traders talk near the screen showing the foreign exchange rates at a foreign exchange dealing room in Seoul, South Korea, Friday, Nov. 1, 2024. A food vendor’s cart is parked across from the New York Stock Exchange on Wednesday, Oct. 30, 2024.

Hong Kong’s Hang Seng gained 0.1% to 20,540.44, while the Shanghai Composite index was up 0.3% at 3,281,76.Stock market today: Microsoft, Meta and the burden of expectations knock Wall Street sharply lowerThe S&P 500 rose 0.4% to 5,728.80, recovering some of its loss from the day before, its worst in eight weeks. The Dow Jones Industrial Average added 0.7% to 42,052.19, while the Nasdaq composite gained 0.8% to 18,239.92.

Treasury yields pushed higher after a highly anticipated report said U.S. employers added only 12,000 workers to their payrolls last month, far short of the 115,000 in hiring that economists were expecting or the 223,00 jobs that employers created in September. The two-year Treasury yield, which closely tracks expectations for the Fed’s actions, initially fell following the jobs report but then climbed to 4.20% from 4.18% late Thursday.

 

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