News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Some OPEC Members Seek to Broaden Efforts to Cut Oil Output

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Six months after restricting their oil output in an effort to raise global crude prices, some members of OPEC are pushing to a broader effort to reduce petroleum production, say people familiar with the matter.

Cyberattack Sweeps Globe, Hits FedEx, U.K. Hospitals

A massive cyberattack disrupted computer systems in dozens of countries on Friday, with computer-security experts saying unknown hackers targeted a software vulnerability that had allegedly been exploited earlier by the NSA.

China Regulators Warn Against Large Stock Sales Ahead of Summit

Two days before the start of an important Chinese summit, brokerages and funds in Shanghai started getting cautionary messages from securities regulators, telling them not to process large orders to sell stock.

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U.S. Stocks Fall as Economic Data Disappoints

U.S. stocks, Treasury yields and the dollar edged lower, as the latest batch of economic data fell short of expectations. The S&P 500 dropped 0.2%.

Department Stores Vs. Travel: What's Driving Consumer Shares

Department stores and retail chains said this week that sales continue to dwindle, dealing another blow to their shares. Yet the consumer-discretionary sector is one of the best performers in the S&P 500 this year.

U.S. Retail Sales Rose 0.4% in April

Retail sales improved in April, with better consumer spending and confidence adding to a growing body of evidence that U.S. economic growth is picking up this spring.

U.S. Consumer Prices Rose Modestly in April

Consumer prices rose only modestly in April, a sign inflationary pressures are stabilizing this spring after a monthslong acceleration.

Harker Flags Possibility Fed May Have to Raise Rates More Quickly

Philadelphia Fed President Patrick Harker said the U.S. central bank could raise rates more quickly than now expected under certain conditions, and that action to reduce the size of the Fed's balance sheet may be closer than some think.

Oil Breaks Three-Week Losing Streak

Oil prices closed nearly unchanged, after fluctuating between gains and losses throughout the day as traders weighed inventory data and look to the global oil cartel to extend a production-cut deal later this month.

Germany's Schäuble: Greece Could Secure Bailout Deal in Late May

German Finance Minister Wolfgang Schäuble said Greece could secure a new bailout deal at the next Eurogroup meeting, amid ongoing negotiations between Athens' financiers and an apparent softening of the International Monetary Fund's stance on debt relief.

(END) Dow Jones Newswires

May 12, 2017 19:15 ET (23:15 GMT)