News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Markets Shrug Off China Rating Downgrade

Continue Reading Below

European stocks opened little changed after a credit rating downgrade in China added to concerns about the world's second largest economy.

Moody's Cuts China Rating for First Time Since 1989

Moody's Investors Service cut China's sovereign credit rating, citing expectations that the country's financial strength will deteriorate in coming years as debt keeps rising and the economy slows.

China's Downgrade: It's Not Just About the Government

Moody's decision to cut China's credit rating could make it more costly for Chinese companies and banks to issue bonds.

Continue Reading Below

ECB Warns Eurozone Faces Risk From Fast Rise in Bond Yields

The ECB warned that a rapid increase in bond yields could pose a risk to the financial stability of the eurozone. It also said that low interest rates continue to pose profitability challenges for lenders bloc.

Bernanke: Bank of Japan, Government Can Cooperate More

Ex-Fed Chairman Ben Bernanke said the BOJ may need to cooperate more closely with the government to hit its 2% inflation target, despite concerns about undermining the central bank's independence.

Fed's Harker Sees Two More Rate Increases This Year As Appropriate

Philadelphia Fed Chief Patrick Harker said he views it as appropriate to raise short-term interest rates twice more this year and that concerns about weak first-quarter data are overblown, laying the groundwork for a potential vote to lift rates at the central bank's June policy meeting.

South Africa April Inflation Within Central Bank's Target Range

Consumer prices in South Africa rose by 5.3% in April compared with a year earlier, the first time since August that inflation returned to the central bank's target range of 3% to 6%.

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.

Bank of Thailand Stands Pat

Thailand's central bank kept its key rate unchanged at 1.5%, maintaining its support for the economy amid early signs of a recovery.

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 24, 2017 05:15 ET (09:15 GMT)