Shares edged lower Monday in quiet trading in Asia ahead of a meeting this week between U.S. President Joe Biden and Chinese leader Xi Jinping.
HONG KONG — Biden and Xi are due to meet on the sidelines of the Asia Pacific Economic Cooperation summit this week amid hopes for improved ties between the two biggest economies.
Big Tech stocks were the strongest forces pushing upward on the S&P 500, including a 2.3% gain for Apple AAPL, +2.32% and 2.5% rise for Microsoft MSFT, +2.49%. By late Friday, traders were betting on only a 9.1% chance that the Fed will raise its main interest rate at its next meeting in December, according to data from CME Group. That’s down from 14.6% a day earlier.
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