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US stocks make modest gains ahead of CPI report

US President Joe Biden plans to send a high-level delegation of former top officials to Taipei after the election in Taiwan on Saturday, in a move that could complicate efforts by Washington and China to stabilise their strained relationship.

The White House has tapped James Steinberg, a former Democratic deputy secretary of state, and Stephen Hadley, a former Republican national security adviser, to lead the bipartisan delegation, said five people familiar with the plans.

Earlier in his administration, Biden dispatched two high-level delegations of former officials to Taipei to reassure Taiwan about US support in the face of pressure from Beijing. But sending such a delegation immediately after a presidential election is unusual — and will probably anger Beijing.

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