Global shares rise as receding debt fears spur Wall St rally
By YURI KAGEYAMA
AP Business Writer
TOKYO (AP) — Global shares and U.S. futures are higher, tracking a rally on Wall Street after signs of progress on resolving the standoff in Congress over the federal debt ceiling. Benchmarks rose Thursday in Paris, London, Tokyo and Hong Kong. Shanghai trading was closed for a Chinese national holiday. Investors are hoping Congress may manage to temporarily extend the federal government’s debt ceiling and buy lawmakers time to reach a more permanent resolution. An agreement in principle between U.S. and Chinese envoys on a virtual meeting between President Joe Biden and his Chinese counterpart Xi Jinping also brightened the mood.
