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 as the index notched a fourth consecutive session of gains.

Bipartisan Pushback Greets Trump's Proposed Budget

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.

Why OPEC Wants to Extend Oil Cuts: Aramco's Coming IPO

Saudi Arabia is pushing the OPEC oil cartel and other big producers to extend crude production cuts for another nine months to give a boost to the coming IPO of Saudi Arabian Oil Co.

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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.

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.

S&P Warns of Possible Brazil Credit Downgrade

S&P Global Ratings delivered more bad news to Brazil, warning that it may cut the country's sovereign debt rating because of its troubled political situation.

(END) Dow Jones Newswires

May 23, 2017 17:15 ET (21:15 GMT)