News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Stocks Up, Led by Bank Shares

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Financial stocks lifted the S&P 500 Tuesday, putting it on course for a fourth consecutive session of gains.

Trump Budget Would Cut Medicaid, Rely on Rosy Growth Projection

President Donald Trump's proposed $4.1 trillion spending blueprint amounts to a sweeping overhaul of the social safety net while projecting a big boost to economic growth that could be difficult to achieve.

U.S. New-Home Sales Fell More Than Expected in April

New-home sales fell sharply in April after reaching a nine-year high the prior month, a possible sign of weaker demand after a run-up in prices.

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Suicide Bomber Kills 22 at U.K. Concert; Islamic State Claims Responsibility

The suicide bomber who killed 22 people and injured dozens of others outside a pop concert in Manchester on Monday night hit one of the softest of soft targets - a mostly young crowd pouring from the exits at the end of the show.

Oil's OPEC Rally Reaches New Highs

Oil prices rose to fresh one-month highs Tuesday, extending a winning streak to five sessions on optimism that the coming OPEC meeting will result in more production cuts.

Ratings Firms Issue Downgrades for Mall-Backed Debt

Bond rating companies are looking closer at securities tied to shopping mall debt, issuing downgrades for those backed by malls suffering from an anchor store closure and putting on watch malls with large stores such as Macy's, J.C. Penney and Sears, even if the stores remain open.

Fed's Kashkari: Unclear if U.S. at Full Employment Amid Signs of Soft Inflation

Minneapolis Fed President Neel Kashkari said he has doubts the labor market is back to full strength, possibly signaling a desire to hold interest rates lower for longer.

Bank of Canada Likely to Maintain Status Quo in Rate Decision

Canada's central bank is expected to leave its main interest rate unchanged Wednesday as soft underlying inflation and trade-policy uncertainty in Washington offset solid economic data.

Greece Debt Deal on Slow Path as IMF and Germany Dig In

Germany and the IMF found a formula on Greek debt that Greece couldn't swallow: Let's talk again after the German elections.

Budget, Staff Cuts Ahead for Financial Regulation and Research Agencies

The Office of Financial Research, an agency created by the 2010 Dodd-Frank law, is implementing a "staffing streamlining effort" according to budget documents released by the U.S. Treasury Department.

(END) Dow Jones Newswires

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