Stocks are opening sharply higher on Wall Street, the latest about-face for a market that has seen a lot of sudden ups and downs recently.
“Fresh updates from China’s Party Congress are being scrutinized, with the emphasis on technological advancement and national security seemingly brought up as high priorities for China’s longer-term direction.rom U.S. technology seems to be the story,” Yeap Jun Rong, a market strategist at IG in Singapore, said in a commentary.
Clifford Bennett, Chief Economist at ACY Securities, noted the U.S. dollar will likely continue to rise as interest rates are pushed higher to counter inflation. That’s a hardship for countries facing steep increases in costs for imports and for debt repayments.
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