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

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Economic growth slowed across parts of the U.S. in recent weeks, and some firms have become a bit less optimistic about the future, according to a new report from the Federal Reserve.

Stocks Slide but Notch Monthly Gains

U.S. stocks fell, pressured by bank stocks, but major indexes logged monthly gains.

Brazil's Central Bank Continues Rate Cuts Amid Political Uncertainty

Brazil's central bank continued its cycle of rate cuts as a political crisis threatens to cripple a budding economic recovery, as it lowered its benchmark interest rate a percentage point to 10.25%.

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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.

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.

IMF Calls for Further Measures to Cool Canada's Housing Market

Canadian authorities should contemplate additional measures to cool real estate activity, and replace a tax on foreign home buyers with other measures that discourage speculation, the International Monetary Fund said Wednesday.

(END) Dow Jones Newswires

May 31, 2017 19:15 ET (23:15 GMT)