News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Jobless Rate Hits Lowest in 16 Years; Hiring Pace Slows

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Hiring slowed in May during a month when the unemployment rate fell to the lowest level in 16 years, suggesting some employers may be unable to find needed workers.

U.S. Stocks Rise After Data Present Mixed Picture of Job Market

U.S. stocks rose to fresh highs, joining a cascade of records for indexes around the world. The gains in the U.S. came after a jobs report that several analysts and investors said was solid enough for the Federal Reserve to raise rates later this month.

White House Budget Director Says U.S. Won't Default

White House budget director Mick Mulvaney said the U.S. won't default on its debt payments even if Congress fails to raise the federal borrowing limit before the government runs out of money to pay its bills.

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Harker Sees Fed on Track for Two More Rate Rises This Year

Philadelphia Fed President Patrick Harker said recent economic data hasn't dissuaded him from believing more interest-rate increases lie ahead.

U.S. Trade Gap Widened 5% in April

The U.S. trade deficit widened in April as Americans stepped up purchases of foreign goods such as cell phones and equipment.

ISM-New York Index Enters Negative Territory

Business conditions slowed to pre-election levels for the first time this year across New York City in May, according to a report Friday, but optimism remained high.

Global Beef Prices Rise as India's Supply Under Threat

India's move to ban the slaughter of its cattle has sent global beef prices higher in recent days, amid concerns of reduced supply from the world's biggest exporter of the meat by volume.

Oil Falls to Three-Week Low on Rising U.S. Output

Oil prices resumed losses Friday, falling to three-week lows, after rising U.S. production and President Trump's withdrawal from the Paris Climate Accord helped reignite a recent selloff.

Greece's Economy Bounced Back in First Quarter

Greece's economy returned to growth in the first quarter of the year, according to the Greek statistics service which on Friday revised its initial estimates.

Oil Price Forecasts Lowered on Crude Glut Worries Despite OPEC-Led Cuts

Oil analysts cut their price forecasts for the first time in eight months amid doubts that a deal by major producers to limit output will be enough to clear the global glut of crude.

(END) Dow Jones Newswires

June 02, 2017 19:15 ET (23:15 GMT)