News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Speculators Spark Surge in Cotton Prices, Upending Mills and Merchants

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Cotton futures have jumped 12% over three sessions, throwing the finances of textile mills and fiber merchants around the globe into disarray.

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.

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.

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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.

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.

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.

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.

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.

(END) Dow Jones Newswires

May 15, 2017 21:15 ET (01:15 GMT)