News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Oil Prices Jump on Talk of Extending Production Cuts

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Oil prices jumped to a three-week high after Russian and Saudi Arabian energy ministers said they would back a nine-month extension to an agreement aimed at bringing down global inventories and lifting prices.

Cyberattack Victims Begin to Assess Financial Damage

As day four of a globe-spanning cyberattack brought with it a marked slowdown in the spread of infected computers, governments and companies started to count the costs.

Puerto Rico Development Bank Strikes Creditor Deal

Puerto Rico's insolvent industrial development bank announced a deal with creditors on how to distribute proceeds from its 10-year liquidation plan.

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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.

Home Sales Jump to Near-Boom-Era Levels

Home sales in the first quarter hit their fastest pace in a decade, a sign that rising prices and slightly higher mortgage rates haven't deterred home buyers from rushing into the market.

Can Trump Deliver 3% Growth? Stubborn Realities Stand in the Way

President Trump has laid out a goal of getting the U.S. economy to grow at above a 3% rate over the long term. Two obstacles stand in his way. The work force isn't producing enough new workers, and the productivity of those working isn't growing fast enough.

Trump Administration Committed to Revamping Fannie and Freddie, Official Says

The Trump administration seeks to overhaul Fannie Mae and Freddie Mac, a top Treasury Department official said, stopping short of outlining the administration's preferred approach.

Should We Fear the Stock Market's Lack of Fear?

The strongest message from a low VIX is merely that the market has gone up a lot. But there is cause for concern.

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.

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.

(END) Dow Jones Newswires

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