News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Fed's Beige Book Reports Slower Growth, Less Optimism in Some Regions

Continue Reading Below

Economic growth has softened in some areas of the U.S., and a number of firms have become somewhat less optimistic about the future, according to a new report from the Federal Reserve.

Stocks Slide but Remain on Track for Monthly Gains

U.S. stocks fell Wednesday, pressured by bank stocks, but major indexes were on track for monthly gains.

EU Weighs Politically-Sensitive Steps to Strengthen Eurozone

The eurozone may need to set up a common budget, treasury and borrowing capacity to secure its stability, requiring politically-sensitive steps, the European Union's executive arm said.

Continue Reading Below

U.S. Pending Home Sales Fall in April

The National Association of Realtors' pending home sales index decreased 1.3% from a month earlier to 109.8, the trade group said. Economists surveyed had expected sales to rise 0.5%.

Weidmann Says ECB Should Discuss When to Start Cutting Back Stimulus

The European Central Bank should start discussing when to reduce its monetary stimulus given the eruozone's improved economic outlook, German central-bank President Jens Weidmann said Wednesday.

ECB Urged to Prepare to Reduce Monetary Stimulus

The European Central Bank should start preparing to reduce its massive monetary stimulus as the eurozone economy picks up speed, the bank's two top-ranking German officials said.

Fed's Kaplan Unruffled by Recent Soft Inflation, Backs 2 More 2017 Rate Rises

Dallas Fed President Robert Kaplan said he doesn't expect recent weakness in price measures to persist, as he reaffirmed his preference to see the central bank pursue slow and steady rate increases.

Oil Down on Investor Skepticism Over Production Cuts

Oil prices tumbled Wednesday as investors remained skeptical that production cuts by major producers will make a dent in global crude stocks.

Bank of Mexico Raises 2017 GDP Growth Forecast

The Bank of Mexico raised its growth expectations for 2017 after the economy in the first quarter proved resilient to concerns about the impact that strained U.S.-Mexico relations could have on investment and spending.

Barclays Heads Out of Africa

Barclays PLC said Wednesday it will sell a large of chunk of its African unit after regulators signed-off on the long awaited deal.

(END) Dow Jones Newswires

May 31, 2017 15:15 ET (19:15 GMT)