Global markets mostly higher following Trump's upbeat speech

TOKYO (AP) — Global markets were mostly higher Wednesday after U.S. President Donald Trump delivered a relatively upbeat speech to the U.S. Congress.

Investors were hoping for details of policies to match Trump's promises for an economic revival.

The president steered away from dramatically negative descriptions of the state of the U.S. economy and his reiteration of his pledges to reform taxes, slash red tape and ramp up spending on defense and infrastructure projects have mostly sent world share benchmarks higher.

Mr. Trump followed it word for word with no surprises or add-ons, said Jeffrey Halley, senior market analyst at OANDA.

Benchmark U.S. crude lost 12 cents to $53.89 a barrel in electronic trading on the New York Mercantile Exchange.