News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

British Pound Falls on Hung Parliament

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The pound slumped after Britain's ruling Conservative Party lost its parliamentary majority in the general election, paving the way for a period of prolonged volatility as investors work out what the surprise results means for Brexit.

U.S. Stocks Climb to Fresh Records

U.S. stocks rose toward fresh records, as investors brushed off surprise election results in the U.K. The S&P 500 gained 0.4%.

Canada Adds 54,500 Jobs in May

Employment in Canada rose for a sixth straight month in May, besting market expectations by a wide margin. The unemployment rate rose as more people went looking for work.

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U.S. Wholesale Inventories Fall More Than Expected

Wholesale inventories dropped 0.5% in April from the prior month, the Commerce Department said. Economists had expected a 0.3% decline.

Oil Recovers Slightly, Eyes on U.S. Crude Stocks

Oil futures edged up but were still heading for a weekly loss after rising U.S. stocks raised doubts that production cuts are achieving their goal of draining global inventory.

U.K.'s May Looks to Smaller Party for Support

British Prime Minister Theresa May resisted opposition calls to resign, scrambling to swiftly form a new government after voters unexpectedly denied her Conservatives a parliamentary majority.

Fiduciary Rule Is Now (Partially) in Effect

When President Donald Trump took office, many in the financial industry were confident that a looming retirement-savings rule they had opposed for years would soon be dead. To their dismay, the core principle of the rule was implemented Friday.

Watch Out for QE Discussion Next Month-ECB Top Policy Maker

The European Central Bank is likely discuss the future of its quantitative easing program at its meetings in July and September, said Ewald Nowotny, a member of the bank's policy body.

Economists and Activists Press Fed to Boost Inflation Target

The Federal Reserve should raise its inflation target so it can deal more effectively with future economic downturns, according to a new report that came with backing from activists and some prominent economists.

Germany's Central Bank Raises Growth Outlook

Germany's central bank upgraded the country's growth outlook on the back of a strong labor market, underscoring the more positive growth prospects for the eurozone as a whole.

(END) Dow Jones Newswires

June 09, 2017 11:15 ET (15:15 GMT)