BEIJING: Global stocks followed Wall Street higher Tuesday after President Joe Biden invited Republicans to a meeting to discuss economic aid, while silver eased off an eight-year high.
London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong also advanced.
U.S. futures rose a day after Wall Street’s benchmark S&P 500 index gained 1.6% amid frenzied trading of video game retailer GameStop and other stocks targeted by novice day traders.
In Washington, Biden invited 10 moderate Republicans to the White House to discuss his proposed $1.9 trillion economic aid plan. Republicans earlier countered with an offer of $600 billion, or less than one-third of Biden’s proposed amount.
The sound of more stimulus, which tends to raise all boats, was music to the markets ears, said Stephen Innes of Axi in a report.
In early trading, the FTSE 100 in London rose 0.2% to 6,481.54 and Frankfurt’s DAX opened up 0.8% at 13,729.33. The CAC 40 in Paris gained 1.2% to 5,529.47.
On Wall Street,…