News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Asia Stocks Stabilize After Recent Weakness

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Stock markets were mostly steady in the Asia-Pacific region on Friday following strong rebounds off session lows a day earlier and overnight gains on Wall Street.

Emerging Markets Falter After Brazil Political Scandal

A rout in Brazilian stocks, sparked by a political scandal, reverberated throughout emerging markets, putting their extended rally at risk.

Trump Aims to Balance Budget

The president next week will propose the U.S. can balance the federal budget over 10 years with substantial cuts to safety-net programs combined with a tax and regulatory overhaul that speeds up the growth rate.

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Fed Markets Lieutenant Suggests Reverse Repos May Be Too Critical to Phase Out

Federal Reserve Bank of New York Senior Vice President Lorie Logan suggested that a key part of the central bank's post-crisis toolkit for controlling interest rates is so helpful, it may be challenging to remove it again.

Fed's Mester Wants Rate Rises, but Won't Say When They Should Happen

Cleveland Fed President Loretta Mester offered an upbeat economic outlook and said more rate rises lie ahead for the central bank.

ECB Wary of Repeat of Fed's 'Taper Tantrum'

European Central Bank Officials wants to avoid a repeat of the 2013 'taper tantrum,' when the prospect that the Fed would slow its asset purchases roiled the markets.

Trump Administration Could Support Government Backstop for Fannie and Freddie, Mnuchin Says

The Trump administration could support a government backstop for Fannie Mae and Freddie Mac as part of a broad overhaul of the companies, Treasury Secretary Steven Mnuchin told Senate lawmakers.

The Loneliness of the Newspaper Stockpicker

The Wall Street Journal's Ahead of the Tape column has been trying to predict markets, earnings and indicators for 15 years. It hasn't always been easy.

Bank of Mexico Raises Rates for Sixth Consecutive Time

The Bank of Mexico lifted interest rates by a quarter percentage point, a further indication that the central bank is worried about rising inflation that hit an eight-year high last month.

Chile's Central Bank Lowers Policy Rate as Economy Struggles

Chile's central bank cut its benchmark interest rate for a third straight month, pointing to lower copper prices and risks to the economy.

(END) Dow Jones Newswires

May 19, 2017 03:15 ET (07:15 GMT)