A man walks by an electronic stock board of a securities firm in Tokyo, Monday, Nov. 21, 2016. Chinese shares rallied Monday, leading gains in most other Asian markets higher as Beijing guided the yuan... (Associated Press) 
 
 A man walks by an electronic stock board of a securities firm in Tokyo, Monday, Nov. 21, 2016. Chinese shares rallied Monday, leading gains in most other Asian markets higher as Beijing guided the yuan lower again, extending a decline that has picked up pace since Donald Trump's U.S. election victory.... (Associated Press) 
 
 LONDON (AP) — Global stocks rose on Tuesday, buoyed by Wall Street's close at a record high and hopes that OPEC will support the price of oil with a production cut. 
 
 KEEPING SCORE: France's CAC 40 added 0.8 percent to 4,563, while Germany's DAX was up 0.6 percent at 10,746. Britain's FTSE 100 was 1.1 percent higher at 6,849. U.S. shares were set to add to their record levels, with Dow and S&P 500 futures both up 0.3 percent, as optimism continued over the potential boost to the economy from President-elect Donald Trump's policies. 
 
 OPEC LOOMING: Expectations are growing that oil ministers will agree to limit production at a meeting of the OPEC oil cartel on Nov. 30 in Vienna, Austria. That's helped buoy oil prices in markets. Benchmark U.S. crude was down 7 cents to $48.17 a barrel in electronic trading on the New York Mercantile Exchange, having jumped $1.88 on Monday. Brent crude, the international standard, rose 13 cents to $49.03. 
 
 ANALYST TAKE: "Investors are trying to strike the right balance between positioning for a major dose of U.S. fiscal stimulus and not getting too committed, given the uncertainty surrounding what policies the new Trump Administration will actually implement," Margaret Yang, a market analyst at CMC Markets, said in a commentary. 
 
 RENMINBI RETREAT: Chinese authorities set the yuan's official "parity rate," known as the fix, for the country's tightly controlled currency at 6.8779 on Tuesday, breaking a 12-day losing streak. The yuan, also known as the renminbi, has been weakening as the dollar has surged in value against other currencies. 
 
 ASIA'S DAY: Japan's Nikkei 225 stock index added 0.3 percent to finish at 18,162.94 after dipping briefly following a powerful earthquake in northern Japan that set off a small tsunami but caused minor damage and injuries. South Korea's Kospi rose 0.9 percent to 1,983.47 and the Hang Seng in Hong Kong gained 1.4 percent to 22,678.07. Australia's S&P ASX/200 added 1.2 percent to 5,413.30 and the Shanghai Composite Index climbed 0.9 percent to 3,248.35. Shares in Southeast Asia and Taiwan also gained. 
 
 CURRENCIES: The dollar rose to 110.84 yen from 110.43 yen on Monday. The euro edged down to $1.0629 from $1.0638. ||||| NEW YORK (AP) — The latest on developments in financial markets (All times local): 
 
 4:00 p.m. 
 
 Stocks are closing mostly lower on Wall Street, but energy companies rose along with the price of crude oil. 
 
 Gains in Exxon Mobil and Chevron nudged the Dow Jones industrial average to another record Monday, but other indexes declined as media companies, banks and technology stocks lost ground. 
 
 Viacom plunged 9 percent after merger talks with CBS were called off by the controlling shareholder of both companies. 
 
 Crude oil jumped 3 percent after oil-producing countries outside of OPEC agreed to reduce output. 
 
 The Standard & Poor's 500 index slipped 2 points, or 0.1 percent, to 2,256. The S&P 500 is coming off its sixth straight gain. 
 
 The Dow climbed 39 points, or 0.2 percent, to 19,796. The Nasdaq composite lost 31 points, or 0.6 percent, to 5,412. 
 
 ___ 
 
 11:45 a.m. 
 
 Stocks are moving mostly lower on Wall Street, except for energy companies, which rose along with the price of oil. 
 
 Big jumps in Exxon Mobil and Chevron nudged the Dow Jones industrial average higher Monday, but other major market indexes fell. The Dow is at a record high. 
 
 The price of crude oil jumped 3 percent after oil-producing countries outside of OPEC agreed to reduce production. OPEC nations had already agreed on their own production cuts. 
 
 The Standard & Poor's 500 index slipped 4 points, or 0.2 percent, to 2,255. The S&P 500 is coming off its sixth straight gain, its longest winning streak since June 2014. 
 
 The Dow climbed 26 points, or 0.1 percent, to 19,782. The Nasdaq composite lost 40 points, or 0.7 percent, to 5,404. 
 
 ___ 
 
 9:35 a.m. 
 
 Stocks are opening mostly lower on Wall Street, except for energy companies, which rose along with the price of oil. 
 
 Big jumps in Exxon Mobil and Chevron early Monday nudged the Dow Jones industrial average higher, but other major market indexes were lower. 
 
 The price of crude oil jumped 4 percent as oil-producing countries outside of OPEC agreed to reduce production. OPEC nations had already agreed on their own production cuts. 
 
 The Standard & Poor's 500 index slipped 1 point, or 0.1 percent, to 2,257. The S&P 500 is coming off its sixth straight gain, its longest winning streak since June 2014. 
 
 The Dow climbed 16 points, or 0.1 percent, to 19,773. The Dow is trading at another record high. 
 
 The Nasdaq composite slipped 27 points, or 0.5 percent, to 5,416. ||||| Oil prices rose to some of their highest prices of the year Thursday, building on gains made after OPEC struck a long-sought agreement to reduce production by 1.2 million barrels a day. 
 
 U.S. crude futures briefly topped their one-year-high of $51.60, hit in October, before settling at $51.06 a barrel on the New York Mercantile Exchange, up $1.62, or 3.28%, from Wednesday’s close. Brent, the global benchmark, gained $2.10, or 4.05%, to $53.94 a barrel—the highest settlement value since August 2015. 
 
 The agreement struck by representatives of the Organization of the Petroleum Exporting Countries marked the group’s first concerted effort to slash output since 2008. 
 
 Market participants were skeptical in the days leading up to the meeting that major producers would be able to put aside their differences, and the deal caught some by surprise. U.S. crude futures rose more than 9.3% Wednesday. 
 
 And questions remain about whether countries will stick to the agreement. But optimism is growing that the cut, representing about 1% of global production, will help to reduce a supply glut that has depressed prices for more than two years. 
 
 “Market forces have brought supply and demand back close to balance already. The cuts are more intended to accelerate the rebalancing process and in particular the drawdown of the large inventory overhang,” said Gordon Gray, global head of oil and gas equity research at HSBC . 
 
 The group is expected to reassess the effectiveness of the deal in six months. 
 
 Related Video Rising oil prices in the wake of OPEC's production cut could further weigh on demand among Asia's emerging energy importers, where weakening currencies have already led to higher prices. Photo: CCTV 
 
 Analysts say the biggest question remains enforcement, as OPEC has no authority to make its members comply. OPEC members have a history of producing beyond their allotted quotas. Adam Longson, commodities analyst at Morgan Stanley , said that OPEC exceeded its quota by an average of 883,000 barrels a day from 2000-2008. 
 
 “Do I think there’s a possibility these guys will not honor their quotas? Yes. They’ve proven in the past numerous times that they can get out of the market what they want,” said Gene McGillian, research manager for Tradition Energy. 
 
 Still, analysts were hopeful that the agreement could move oil supply and demand closer together more quickly than would happen if OPEC members keep pumping at current high levels, even if the actual cuts turn out to be smaller than what was announced. 
 
 “While we acknowledge that OPEC’s record of delivering on production cuts has historically been poor, on a net basis we expect this to tighten crude markets,” said Scott Darling, the head of Asia-Pacific oil and gas research at J.P. Morgan . 
 
 An OPEC news conference on Wednesday. Photo: Bloomberg News 
 
 And some said markets have been buoyed by the signal that OPEC is returning to its policy of taking collective action to keep prices from cratering—a reversal from two years ago when the group essentially lifted all output quotas, allowing more supply to come to an already flooded market. 
 
 “Although this may seem like a drop in the bucket of rebalancing the global supply/demand equation, the coordination seems to be enough for the markets to hang their hat on for now,” analysts at TAC Energy wrote in a research note Thursday. 
 
 Higher prices, however, are likely to cause more U.S. shale producers to increase production. 
 
 The latest production data from the U.S. Energy Information Administration showed U.S. production increased by 9,000 barrels a day to 8.7 million barrels for the week ended Nov. 25. 
 
 “There is a real risk that higher prices could reactivate more dormant shale oil,” said ANZ Research, which expects international oil prices to hit strong resistance at around $60 a barrel in early 2017. 
 
 Another wild card is the cooperation of non-OPEC producers, which are expected to decrease production by 600,000 barrels a day. Russia said it would cut production by 300,000 barrels a day, though it isn’t clear how much of that will come from already expected declines. 
 
 “In fact, we’re not even fully confident that Russia will freeze production, particularly if the market tempts them with higher prices,” said Tim Evans, a Citi Futures analyst. 
 
 Gasoline futures rose 6.45 cents, or 4.35%, to settle at $1.547 a gallon. Diesel futures rose 7.16 cents, or 4.54%, to $1.6479 a gallon. 
 
 Write to Sarah McFarlane at sarah.mcfarlane@wsj.com, Alison Sider at alison.sider@wsj.com and Jenny W. Hsu at jenny.hsu@wsj.com
– MarketWatch credits "Trump-induced euphoria" in its headline: The Dow on Tuesday hit 19,000 for the first time at open, a milestone that followed Monday's record close of 18,957. The S&P 500 also passed 2,200. The AP earlier reported that global stocks rose Tuesday, buoyed by hopes that OPEC will support the price of oil with a production cut. The Wall Street Journal reports oil prices continue to hang around a three-week high in anticipation of a possible end-of-month OPEC deal. "Rising commodity prices do help," one senior portfolio manager with Robeco tells the Journal. "But I think there is also a bit of an upbeat mood about the [Donald] Trump election."