Commodities
Global Stocks Soar on Falling Oil Prices and US-China Hopes
Global stock markets surged on Monday as oil prices plummeted and hopes for a trade breakthrough between the US and China rose.
The Dow Jones Industrial Average gained 0.7 percent, while the London, Paris, and Frankfurt stock exchanges rose around one percent in afternoon trading.
US President Donald Trump signaled his willingness to meet with Iranian President Masoud Pezeshkian, who will attend the UN General Assembly this week, leading to a drop of more than three percent in oil prices.
Susannah Streeter, chief investment strategist at Wealth Club, noted that falling crude prices have reduced inflation worries, while Florian Ielpo at Lombard Odier bank pointed out that Saudi exports rose significantly in September.