U.S. Stocks Rise, Buoyed by Consumer Discretionary Sector
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Consumer-discretionary shares lifted U.S. stock indexes while oil prices slid. The S&P 500 added 0.3%, on track for a fresh closing record.
Globalization, Gold and the Return of History
Donald Trump's first venture abroad has been notable for its calm, after the tumult he left behind in Washington. For investors worried that the U.S. president could destabilize the global trade and security regime, his willingness so far to stick to the script might have come as a relief.
U.S. Jobless Claims Rose Slightly Last Week
he number of Americans applying for first-time unemployment benefits ticked up last week, though overall numbers remain consistent with steady job gains.
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Oil Prices Fall on Fears OPEC Cuts Won't Ease Glut
Crude prices fell after major oil producers extended output cuts by less than some investors had hoped, with some analysts questioning whether the deal will be enough to break the market out of its current range.
China Hitches Yuan to the Dollar, Buying Rare Calm
China's central bank appears to have effectively pegged the Chinese yuan to the dollar in recent weeks, a policy twist that has helped stabilize the currency in a year of political transition.
U.S. Mortgage Rates Drop to Lowest Level This Year
Mortgage-finance company Freddie Mac said average fixed mortgage rates in the U.S. fell in the latest week, reaching a low for the year.
South African Reserve Bank Cuts Growth Forecast After Downgrades
South Africa's economy will grow at a slower pace due to recent downgrades of its credit rating, the country's central bank said, as it kept its main repo rate at 7%.
Mexico Registers Surprise April Trade Surplus
Mexico chalked up an unexpected $617 million trade surplus in April as higher oil and factory exports combined with a drop in imports of nonpetroleum goods.
OPEC Agrees to Extend Crude Output Caps
OPEC renewed an agreement to withhold some crude-oil supplies into March 2018, doubling down on its bet that it can raise prices despite soaring output from U.S. shale producers.
UK Growth Slower Than First Thought in 1Q
The U.K. economy slowed more sharply than first thought in the first quarter, a warning sign on growth ahead of a national election June 8 and the start of Brexit talks with the European Union.
(END) Dow Jones Newswires
May 25, 2017 11:15 ET (15:15 GMT)