News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Oil Plummets Toward $44, Extending U.S. Losses

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Oil prices fell 3% over the course of a few minutes in midday Asian trading, hitting their lowest level since a key production-cut agreement in November as traders lost faith that those cuts would reduce the glut.

China Commodities Slump Weighs on Stocks

Commodities took center stage in Asia, with a slump in Chinese metals prices and weakness in crude oil sending equity markets across the region lower.

Australia's RBA More Confident on Inflation Rise

Australia's central bank made only minor changes to its economic forecasts in a quarterly policy statement Friday, but said it has growing confidence in its expectation that inflation will rise over time.

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Screws Tighten on Risky Chinese Insurance

In China, lucrative bets are usually followed by a regulatory clampdown. So it was only a matter of time before China's acquisitive and unlisted life insurers started feeling the pain.

GE's Immelt Warns Trump on Perils of Protectionism

While some American executives have been hesitant to criticize the U.S. president, General Electric's chief executive provided a warning Thursday: globalization needs an overhaul, but the U.S. should avoid the temptation to throw up barriers to free trade.

Trade Uncertainty Holding Back Growth, Says Bank of Canada's Poloz

Bank of Canada Gov. Stephen Poloz warned trade-policy uncertainty in the U.S. is a significant headwind to growth as companies are hesitant to invest without knowing what a revamped North American trade pact would hold for their futures.

Jay Clayton Sworn In to Lead SEC

Jay Clayton was sworn in as chairman of the Securities and Exchange Commission, becoming the Trump administration's first permanent head of a financial regulatory agency.

Brexit Clash Points to Trouble Ahead

The war of words that escalated this week between London and Brussels is a sign that nobody should take a deal over Brexit for granted, Stephen Fidler writes.

Deepening Gasoline Glut Pushes Oil to a Five-Month Low

U.S. refiners are flooding the market with gasoline, intensifying oil prices' spring decline.

Senate Passes Spending Bill to Avert Government Shutdown

The Senate on Thursday passed a $1.1 trillion bill to fund the government through Sept. 30, sending it next to the president's desk and avoiding a partial government shutdown this weekend.

(END) Dow Jones Newswires

May 05, 2017 03:15 ET (07:15 GMT)