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AP National Business

Global markets higher ahead of Fed meeting on stimulus

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Published 3:54 AM

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Global stock markets are mostly higher ahead of a Federal Reserve meeting this week that is expected to accelerate plans to wind down U.S. economic stimulus after November inflation hit a 39-year high. London, Shanghai and Tokyo advanced while Frankfurt opened lower. Oil prices rose by more than $1 per barrel. Fed officials said earlier they were ready to try to cool inflation by winding down bond purchases and other stimulus that is boosting stock markets. Chinese stocks rose after leaders promised tax cuts and other support to entrepreneurs to shore up economic growth.

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