News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Stocks Hover Around Flat

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U.S. stocks hovered around the flatline, as a slump in materials shares offset gains in the energy and technology sectors.

Macron Victory Opens New Path for Euro

As political risks to the euro wane, analysts now expect the currency to follow eurozone economic growth higher, leaving a long period of weakness behind it.

Despite Sanctions, Russia's Oil Industry Powers On

Exxon Mobil is suffering from sanctions on Russia. The same can't be said for other big Western energy companies, or for Russia's oil production.

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Conference Board's Employment Trends Index Rises to 132.64

A basket of U.S. employment indicators increased in April, suggesting employers are adding jobs at an accelerating pace.

Banks Want Mnuchin to Intervene in Fight Over New Loan Rule

Banks are trying to enlist the Trump administration to fight a new accounting rule requiring them to book losses on soured loans more quickly, potentially setting the stage for a clash between the Treasury Department and the SEC.

Fed's Mester Calls for More Rate Rises

Federal Reserve Bank of Cleveland President Loretta Mester called for additional central bank rate rises and added the U.S. central bank can likely act to start shrinking the size of its massive holdings of cash and bonds later this year.

Fed's Bullard Says Current Fed Short-Term Target at Correct Level

Federal Reserve Bank of St. Louis President James Bullard reiterated Monday his belief that the U.S. central bank has short-term interest rates where they need to be.

Canadian Housing Starts Fell in April

Canadian housing starts declined in April after hitting a near decade-high in the previous month, although remaining at elevated levels due to tight conditions in the Toronto-area resale market.

Oil Prices Edge Higher Amid Expectations of Supply Cuts

Crude futures edged higher Monday, amid expectations that major producers will cut their supplies for longer in a bid to reduce high global inventories.

Oil Investors Cut Their Bets on Higher Oil Prices

Investors cut their bullish bets on the oil price to the lowest level since OPEC reached a deal to cut output last year, amid continued doubts about the effectiveness of that agreement.

(END) Dow Jones Newswires

May 08, 2017 19:15 ET (23:15 GMT)