News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Consumer Credit Increases by $8.20 Billion in April

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U.S. consumer borrowing decelerated in April to a 2.58% annual rate, marking the slowest pace of growth since August 2011, Federal Reserve data showed.

Financial Shares Drive U.S. Stocks Higher

U.S. stocks snapped a two-session losing streak as gains in financial shares boosted major indexes. The S&P 500 added 0.2%.

Oil Drops on Unexpected Jump in Stockpiles

U.S. oil prices had their worst day since March, falling to their second lowest level of the year after U.S. data showed an unexpected increase in oil stockpiles.

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

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.

Regional Rift Hits Container Shipments to Qatar, but Not LNG Exports

Three days into a diplomatic fallout between Qatar and its neighbors, container cargoes heading toward the tiny Arab nation are choked but crucial natural-gas exports haven't been affected.

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.

OECD Moves to Limit Tax Avoidance by Multinationals

More than 70 countries and jurisdictions signed an agreement limiting the ability of multinationals to exploit divergences between tax treaties, a practice known as "treaty shopping" that enables companies to pay lower taxes.

SEC to Hire Dalia Blass as Top Regulator of Mutual Funds, ETFs

The Securities and Exchange Commission is poised to hire as its top mutual-fund regulator an attorney whose spouse is about to step down as chief lawyer for the industry's trade group, according to people familiar with the matter.

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.

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.

(END) Dow Jones Newswires

June 07, 2017 17:15 ET (21:15 GMT)