Chinese authorities have taken various measures to ensure sufficient food supplies and stable food prices as Spring Festival, the most important traditional Chinese festival that usually sees surging consumer demand, is approaching.
In Luohe City of central China's Henan Province, large farmer's markets and supermarkets are stocked with a wide array of daily necessities and fresh vegetables, offering a comprehensive selection and ample supply.
A significant increase can be seen in the variety of rice, flour, and edible oil in supermarkets. Price tags are color-coded, with white tags indicating market prices, while yellow tags discounted prices. Any fluctuations in prices will be closely monitored.
"Prices are clearly marked and based on government guidelines. To ensure a steady supply, we have rice and flour supplies in stock 20 times the usual amount, and edible oil 30 times. Our supply vehicles will [deliver goods to] stores every day before 10:00, and the quality is guaranteed," said Zhang Sufang, a staff member at a local supermarket.
Meanwhile, there is growing attention to new market trends focusing on nutrition and health.
"We will ensure a sufficient supply and stable prices of grain and edible oil products, and maintain consistent market availability. We will actively adapt to the growing trend of nutrition and health consumption, support enterprises in increasing the supply of sought-after, high-quality new products with characteristics, accelerate the cultivation and promotion of whole grain products, so as to better meet the diverse, personalized, and customized consumption needs of consumers," said Luo Shouquan, director of the grain reserves department of the National Food and Strategic Reserves Administration.
China takes measures to ensure stable food supply, prices as Spring Festival approaches
U.S. stocks ended higher on Monday, recovering from early session heavy losses, as indications of a potential swift conclusion to the ongoing U.S.-Israeli strikes on Iran triggered a sharp pullback in global oil prices.
The Dow Jones Industrial Average rose 239.25 points or 0.5 percent, to 47,740.8. The S and P 500 added 55.97 points or 0.83 percent to 6,795.99. The Nasdaq Composite Index increased by 308.27 points or 1.38 percent, to 22,695.95.
Nine of the 11 primary S and P 500 sectors ended in the green. Technology and communication services led the gainers, advancing 1.8 percent and 1.13 percent, respectively. Meanwhile, the financials and energy sectors led the laggards, declining 0.52 percent and 0.43 percent, respectively.
The broader market turned positive in afternoon trading following remarks from U.S. President Donald Trump suggesting the war with Iran could conclude sooner than anticipated. He reportedly told a CBS journalist that "the war is very complete, pretty much."
The geopolitical developments prompted a dramatic reversal in energy markets. West Texas Intermediate crude oil futures for April delivery, which had surged past 119 U.S. dollars per barrel in overnight trading for the first time since 2022, settled at 94.77 dollars a barrel.
The sudden drop in oil prices immediately relieved travel and leisure equities, which are highly sensitive to fuel costs. Shares of major U.S. carriers, including Delta Air Lines, United Airlines, and American Airlines, alongside cruise operators such as Norwegian Cruise Line, Carnival, and Royal Caribbean, erased earlier losses to finish higher.
In the technology sector, all of the major "Magnificent Seven" stocks rebounded from early declines to post gains. Additionally, memory chip manufacturers saw significant upward movement, with SanDisk and Western Digital finishing up nearly 12 percent and 7 percent, respectively.
Despite the session's optimism, some market experts warned that investors might underestimate the risks of a broader economic recession or an equity market correction. Analysts at Deutsche Bank noted that a continuous stream of global shocks over the past four years has left investors somewhat desensitized to short-term disruptions, leaving overall equity positioning slightly below neutral.
Conversely, analysts at Morgan Stanley offered a more optimistic outlook, forecasting that U.S. equities will likely remain constructive for at least another year despite the elevated geopolitical risks. "We think we're closer to the end of this rolling correction than the beginning and remain constructive over the next 6-12 months," analysts said.
U.S. stocks finish higher as Trump says war could be over soon
