News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Saudi Arabia, Russia Want Nine-Month Extension to Deal on Oil Output Cuts

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The energy ministers of Russia and Saudi Arabia said a production cut by the world's top crude-oil producers should be extended by nine months to the end of March 2018 to stabilize the market for crude and bring global oil inventories down to their five-year average.

Asian Stocks Largely Rise, Despite Plenty of Reasons to Worry

Asian stocks opened largely higher Monday as investors continued to shake off reasons to worry, including a North Korean missile test and a global cyberattack.

Global Oil Prices Jump on Talk of Extending Production Cuts

Oil futures rose sharply in Asian trading after energy ministers from Russia and Saudi Arabia said they would back a nine-month extension to a regime of global production cuts.

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Global Economy Week Ahead: Japan GDP, EU Consumer Confidence

This week, Japan releases first-quarter GDP figures, with growth expected for the fifth straight quarter, and a consumer confidence reading in Europe will help gauge how Emmanuel Macron's victory in the French presidential election might affect the economy.

China's Economy Slowed in April in 'Turning Point'

China's economic activity weakened more than expected last month on flagging factory demand, part of an anticipated gradual slowdown in the world's second-largest economy for the rest of 2017.

China's Debt Addiction Will Be Hard to Cure

China's regulators risk creating more appetite for debt even as they try to crack down on it.

Bitcoin Faces More Scrutiny After Global Hack

In the wake of a global wave of cyberattacks that demanded payment in bitcoin, new attention is being focused once again on the digital currency's role in hacking and illegal money movements.

China's President Xi Casts Country as Guardian of Globalization

Chinese President Xi Jinping called for a more open, inclusive world order, injecting a note of geopolitical ambition into a global gathering to promote China's vision for greater economic cooperation across Asia, Europe and Africa.

Chinese Banks Rattled by Regulatory Blitz

The past two months have been tumultuous for Chinese lenders as a new banking czar has unleashed a blizzard of new directives, uncovered a fraud scandal and issued heavy fines.

How Big Are Mutual Funds' Puerto Rico Losses? $5.4 Billion

The total red ink for mutual funds that invested in debt issued by Puerto Rico is as much as $5.4 billion over the last five years, according to a Wall Street Journal analysis of mutual-fund holdings and municipal-bond trades.

(END) Dow Jones Newswires

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