News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Stock Declines Deepen in Australia, China

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Stock declines in Australia and China deepened into the afternoon Wednesday as traders await the latest statement from the U.S. Federal Reserve. Markets in Japan, South Korea and Hong Kong are closed for holidays.

Oil Seen Selling Off Quickly If OPEC Doesn't Extend Production Cuts

The price of oil is susceptible to a swift selloff should OPEC and other major producers not agree to an extension of crude production cuts this month.

The China Debt Crisis Is Still Ripening

A regulatory crackdown and rising bond yields are making headlines again in China. But widespread problems aren't likely until corporate revenue growth starts weakening again as well.

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Trump's Expected OCC Pick Signals Shift at Regulator

President Donald Trump's expected move to replace the Comptroller of the Currency signals a change in direction at the bank regulator that could ripple from private-equity buyouts to financial technology-and beyond.

Saudi Deputy Crown Prince Warns of Further Belt-Tightening

Saudi Arabia's powerful deputy crown prince defended a decision to reverse a contentious government austerity program by reinstating perks for state employees, but cautioned more belt-tightening could follow if oil prices dropped.

Analysis: Hot Housing Markets May Call for More Fed Action

Hot housing markets in key U.S. metro areas are raising the risk the U.S. central bank may have to lift interest rates more than most now expect, Deutsche Bank economist Torsten Slok says in a new report.

Fed Rate Rise Unlikely Wednesday, but Possible June Move in Focus

Next to no one expects Federal Reserve officials to raise short-term interest rates at the conclusion of their two-day policy meeting Wednesday, but the central bank could send signals about where borrowing costs are headed in the months ahead.

Jay Clayton Confirmed as SEC Chairman

The Senate approved President Donald Trump's choice to lead the Securities and Exchange Commission, elevating a Wall Street lawyer who hopes to turn around the decline in the number of public companies.

Wilbur Ross Sets Deadline in U.S.-Mexico Sugar Dispute

U.S. Commerce Secretary Wilbur Ross is threatening to reinstate duties on Mexican sugar on June 5, after talks between the U.S. and Mexican sugar industries stalled.

U.K. Clearing Industry Headed for EU Carve-Up Amid Brexit

The European Union is gearing up to grab a piece of London's multitrillion-dollar clearing industry as the U.K. exits the bloc.

(END) Dow Jones Newswires

May 03, 2017 03:15 ET (07:15 GMT)