News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Oil Prices Jump on Talk of Extending Production Cuts

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

IMF Calls on Germany to Boost Spending

Germany should loosen its purse strings, cut income tax and increase spending on infrastructure to avoid long-term low inflation, the International Monetary Fund said.

U.S. Stocks Up on Energy, Mining Companies

U.S. stocks climbed as a jump in commodities prices boosted shares of energy and mining companies. The S&P 500 added 0.3%.

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WSJ's Daily Shot: Lenders Cut Back on Multifamily Housing Amid Weak Apartment Sales and Rising Supplies

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.

Empire State Manufacturing Survey Shows Optimism Remains High

Optimism for future business conditions remained high despite an unexpected contraction in factory activity across New York state in May, according to a report Monday from the Federal Reserve.

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

Russia and Saudi Arabia's energy ministers said a production cut by the world's biggest oil producers should be extended by nine months to the end of March 2018.

U.S. Home-Builder Sentiment Rises in May

The National Association of Home Builders said its housing-market index rose by two points to a seasonally adjusted 70 in May, the second-highest reading since the downturn. Economists surveyed had expected this month's index to match April's reading of 68.

Canada Existing Home Sales Fall 1.7% in April

Sales of existing homes in Canada fell 1.7% in April from the prior month, the Canadian Real Estate Association said Monday, as recent policy changes by the Ontario government appeared to have cooled market activity in several key major cities.

ECB's Nouy: Changes to European Banking Rules Don't Go Far Enough

European Central Bank's top bank supervisor Daniele Nouy said Monday that efforts to change European banking rules don't go far enough to iron out national differences

(END) Dow Jones Newswires

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