BEIJING (AP) — Global stocks rose today after Wall Street rallied as investors looked ahead to the U.S. Federal Reserve chairman’s congressional testimony this week for insights into its economic outlook. Futures pointed to some opening gains on Wall Street. Benchmark U.S. crude oil barely moved, remaining above $63.50 per barrel. The dollar declined against the yen and the euro.
WASHINGTON (AP) — A new survey shows a majority of business economists now view the government’s tax and spending policy as moving too aggressively to stimulate economic growth, setting up a potential increase in the deficit in the coming years. That view emerged from the latest economic policy survey by the National Association for Business Economics, polling 211 members at companies and industry groups. The 52 percent of economists who consider the government’s fiscal policy “too stimulative” compares with only 20 percent in August, in the previous economic policy survey.
WASHINGTON (AP) — The Supreme Court is hearing arguments in a case that could deal a painful financial blow to organized labor. All eyes will be on Justice Neil Gorsuch Monday when the court takes up a challenge to an Illinois law that allows unions representing government employees to collect fees from workers who choose not to join. The unions say the outcome could affect more than 5 million government workers in 24 states and the District of Columbia.
BEIJING (AP) — Chinese President Xi Jinping’s top economic adviser will hold talks with American officials in Washington this week amid tensions over trade, technology and other issues. The foreign ministry announced that Liu He will discuss bilateral relations and cooperation on trade and economic matters. Ministry spokesman Lu Kang gave no details of whom Liu will meet or what message he will deliver on the six-day visit beginning Tuesday.
LONDON (AP) — Britain’s main opposition party is trying to clarify its convoluted position on Brexit, saying the U.K. must retain close economic ties with the European Union, including a tariff-free customs deal. Labour Party leader Jeremy Corbyn will say in a speech Monday that the U.K. should have “a new and strong relationship with the single market that includes full tariff-free access” to the 27 other member states. The party says Corbyn will also argue that Britain should remain in a customs union with the bloc — something Prime Minister Theresa May’s Conservative government appears to have ruled out.