News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Oil Exports Double, Reshaping Vast Global Markets

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American oil exports are emerging as a disruptive new force in global markets, making their way to more than 30 countries since a ban on them was lifted in 2015.

Slide in Energy Shares Caps Gains in U.S. Stocks

Declines in energy stocks pressured major U.S. indexes, while financial shares gained. The S&P 500 added less than 0.1%.

OECD Calls for ECB Taper, Cuts U.S. Growth Forecasts

The European Central Bank should wind down its bond purchases in 2018 and raise one of its key interest rates by the end of that year, the Organization for Economic Cooperation and Development said.

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Canada Building Permits Fall on Toronto Weakness

Canadian building permits edged downward in April on weak demand to build single-family homes and condominium units in Toronto, where elevated house-price gains forced lawmakers to introduce a fresh round of measures to deter real estate speculation.

Oil Drops on Unexpected Jump in Stockpiles

Oil prices declined after weekly U.S. inventory data showed a surprise increase in crude stockpiles.

Labor Secretary: Final Review of Fiduciary Rule in Motion

Labor Secretary Alexander Acosta said the first step has been taken in deciding the fate of a landmark retirement-savings rule that goes into partial effect this Friday.

China Market Squeeze Starts to Strangle Small Businesses

China's effort to reduce investment-fund speculation has sent bond yields soaring past the interest rate banks charge-bad news for small and midsize private businesses, which typically have little access to bank loans.

ECB Workers Rally in Frankfurt Against IT Staffing Changes at Bank

European Central Bank employees took to the streets to protest ECB plans to change an IT service provider, which the union representing central-bank staff said put more than 100 jobs at risk.

India's Central Bank Keeps Key Lending Rate Unchanged

India's central bank left its main lending rate unchanged, unswayed by record-low inflation and the economy's slowest growth in more than two years.

China Forex Reserves Expanded in May

China's foreign-exchange reserves last month rose by $24.03 billion, the largest amount in more than three years, reflecting recent yuan strength against the U.S. dollar and Beijing's efforts to curb capital outflows.

(END) Dow Jones Newswires

June 07, 2017 13:15 ET (17:15 GMT)