News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

European Shares Slip as Investors Mull Trump Intelligence Sharing

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European stocks dipped, despite fresh record highs for U.S. equities overnight, as investors weighed the impact of reports that President Trump shared intelligence secrets with Russia.

U.K. Inflation Fastest Since 2013

U. K. consumer prices rose at the fastest pace in over three years, data showed, suggesting Britons are facing a living-standards squeeze as the country heads into a general election and begins its exit from the European Union.

China Pumps $24.7 Billion Into Financial System

China's central bank made its biggest one-day cash injection into the country's fragile financial markets in nearly four months, a sign that Beijing is trying to mitigate the damage to investor confidence from its campaign to tamp down speculation fueled by excessive borrowing.

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Bank of Japan Chief: Unwinding Stimulus Won't Bring Turmoil

Bank of Japan Gov. Haruhiko Kuroda defended the drastically expanded monetary stimulus he has overseen, saying it is working to stimulate inflation and will not cause problems for his successor.

RBA's Minutes Flag Housing, Jobs for Careful Monitoring

Australia's central bank continues to focus on developments in the country's overheated housing market, and signs of softness in job creation as key signposts for the direction of interest rates.

Speculators Spark Surge in Cotton Prices, Upending Mills and Merchants

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.

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.

(END) Dow Jones Newswires

May 16, 2017 07:15 ET (11:15 GMT)