News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Trump Orders Plan to Cut Corporate Tax Rate to 15%

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President Trump has ordered aides to draft a tax plan that slashes the corporate tax rate to 15%, even if that means a loss of revenue and exacerbating the plan's procedural and partisan hurdles.

Markets Leap on French Election Results

Stocks rallied after results from the French presidential elections rekindled investors' appetite for risk; meanwhile, assets perceived as relatively safe-such as gold and government bonds-fell.

For Aramco Insiders, Prince's $2 Trillion IPO Valuation Doesn't Add Up

Officials working on taking the state-owned oil company public have struggled to come up with a scenario under which Saudi Aramco is worth more than $1.5 trillion, according to people familiar with the matter.

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FCC Head Expected to Announce Net Neutrality Strategy

The nation's top telecommunications regulator is expected to unveil his strategy Wednesday for rolling back Obama-era net neutrality rules.

Oil Slides on Signs of Oversupply

Oil prices retreated Monday, as growing U.S. production and other signs of global oversupply keep thwarting a widely-expected rally.

European Stocks Aren't as Cheap as They Look

Monday's market response showed the scale of dread that had been priced in before the French election, more than it indicated undervalued stocks.

Choice Act Hearing to Be Weighted Toward Republican Witnesses

Republican lawmakers are enlisting well known critics of financial regulation to bolster their case for overhauling Wall Street rules at the first hearing on the GOP's Financial Choice Act, slated for Wednesday.

Meet the Man in Charge of Trump's Review of Wall Street Rules

Craig Phillips, a former BlackRock executive, has emerged as a central figure in President Trump's Treasury Department, helming the administration's plan for financial deregulation and serving as a key point of contact with the financial industry.

Euro Jumps as French Election Reshapes European Markets

The euro, French government bonds and European stocks closed sharply higher in the wake of the first round of France's presidential election, with centrist former economy minister Emmanuel Macron edging out far-right politician Marine Le Pen.

VIX Drops as French Election Results Ease Minds of Investors

A measure of stock volatility had its biggest percentage drop since 2011 on Monday as investors expressed relief over the outcome in the first round of the French presidential election.

(END) Dow Jones Newswires

April 24, 2017 19:15 ET (23:15 GMT)