News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Oil Hits 5-Month Low After Only Small Decline in U.S. Inventories

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Crude oil futures broke below $50 on Thursday as investors focused on U.S. inventories falling less than expected, deepening skepticism that production cuts from the Organization of the Petroleum Exporting Countries aren't making a big dent in elevated global stockpiles.

GOP Confident of Votes as Health Debate Begins

The House appeared ready to vote on a bill to replace most of the Affordable Care Act, a first step toward fulfilling a key promise that Republican leaders have made to voters for more than seven years.

U.S. Jobless Claims Fall to 238,000

The number of Americans applying for first-time unemployment benefits fell sharply last week to one of the lowest levels since the 1970s, the latest sign the labor market is tightening.

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Drop in Commodities Damps U.S. Stocks

U.S. stock indexes edged lower, pressured by a steep drop in commodity prices.

U.S. Productivity Fell in the First Quarter

The productivity of U.S. workers decreased in the opening months of the year, highlighting the economy's low-growth trajectory.

Chinese Metal Prices Tumble

Chinese metals prices tumbled, dragging down resource prices around the world amid worries that demand for commodities like steel and iron in the world's No. 2 economy is weakening and inventories filling up.

The Slow, Leaking Poison of the Bond Market

One might expect an all-star conference hosted by former junk bond king Michael Milken to be full of boosters for the riskier side of the credit markets, but not a bit of it. The prevailing mood at Mr. Milken's annual gathering was of caution about the lack of yield from the so-called high-yield market.

U.S. Trade Activity Picks Up in First Quarter

The U.S. trade gap widened in the first quarter compared to a year earlier as exports and imports rose, suggesting underlying strength in the global economy.

Eurozone's Recovery Broadens

The eurozone's economic recovery is broadening, according to surveys of purchasing managers, a development that would make it easier for the European Central Bank should to wind down stimulus measures.

WSJ's Daily Shot: Rate Hike Next Month is a Near Certainty

(END) Dow Jones Newswires

May 04, 2017 11:15 ET (15:15 GMT)