News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

As Some Asian Stocks Pull Back, Korea at Record High

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Some recently strong stock markets in Asia pulled back Thursday as investors looked past the U.S. Federal Reserve's announcement that it would stand pat on interest rates as expected, but South Korean equities powered to record highs.

Fed Sees Growth Rebounding, Stays on Track for Rate Rises

The Federal Reserve said it expected economic growth to rebound after a soft first quarter, signaling the central bank is likely to continue gradually raising short-term interest rates this year if it is right.

China Caixin Services PMI Falls to 11-Month Low in April

Activity in China's service sector expanded at the slowest pace in nearly a year, a private gauge showed Thursday, pointing to possible softness in the sector.

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Australia Trade Surplus Narrows in March

Australia posted a seasonally adjusted trade surplus of A$3.11 billion in March, the Australian Bureau of Statistics said Thursday.

Senate Strikes Down Rule to Help State-Sponsored Retirement Plans

The U.S. Senate on Wednesday ended an Obama administration effort to encourage states and cities to offer retirement savings plans for millions of private-sector employees.

House Passes Spending Bill That Excludes Some Trump Priorities

The House passed a $1.1 trillion bill to fund the government through Sept. 30, a big step toward avoiding a government shutdown on Saturday.

Housing Recovery Helps Home-Improvement Firms Avoid Retail Blues

Home-improvement stocks are rising alongside booming U.S. house prices and construction, making the shares a rare success story in the depressed world of retailing.

Strong Growth Propels Europe's Economy Toward Health

Signs of economic revival in the euro currency zone are multiplying, indicating that Europe is finally healing from a crisis-racked decade.

Greek Marathon Isn't Over Yet

Greece finally agreed with its creditors on a package of reforms needed to unlock its next installment of bailout cash, but the stage is set for another difficult negotiation, this time pitting the IMF against Greece's eurozone creditors led by Germany.

U.S. Aluminum Trade Group Lobbies U.K. in Fighting Chinese Subsidies

U.S. aluminum industry figures urged their European colleagues to join them in acting against what they called China's illegal subsidizing of its aluminum industry, after publishing an open letter to U.K. Prime Minister May.

(END) Dow Jones Newswires

May 04, 2017 01:15 ET (05:15 GMT)