News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

ECB Corporate Debt Purchases Total $102.4 Billion

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The European Central Bank said it has bought 950 securities from around 200 groups under its corporate bond-buying program, launched as part of the bank's unprecedented moves to support the eurozone economy.

Thin Trading Hobbles Online Cattle Auction

An online cattle auction that launched last year as a way to help set prices in the volatile market is in trouble, hurt by technical breakdowns and dwindling participation.

China Firms Might Need to Shape Up After MSCI Lays Out Red Carpet

The index provider's decision to include mainland Chinese shares in its global benchmarks for the first time could prompt changes to how companies are run, even if the initial amount of capital inflows won't be enough to effect a sizable shift in the country's markets.

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MSCI to Consider Saudi Arabia for Emerging Market Classification

Index provider MSCI Inc. has said it would consider classifying Saudi Arabia as an emerging market as early as next year, a move that could potentially divert billions of dollars into the Middle East's biggest economy.

Fed's Kaplan Wants to See Inflation Pick Up Before Raising Rates

Federal Reserve Bank of Dallas President Robert Kaplan said Tuesday he would like to see more evidence that weak inflation has passed before raising short-term interest rates again.

'Flattening' Trend Has Many Drivers

Some measures of the yield curve are hitting their flattest levels in almost a decade, a development that is being greeted with moderate concern in markets.

China Stocks Win Big Endorsement From Indexing Giant

China's efforts to open up its markets to global investors won a long-awaited endorsement when MSCI added locally traded shares in the world's most populous nation to its benchmark emerging-markets index.

Court Denies States' Request for Leftover Money From Sprint Settlement

A federal court ruled Tuesday that money left over from a consumer settlement fund must be transferred to the federal government's coffers, denying motions from state attorneys general and Sprint to redirect the funds to states.

Insurance Startup Oscar Raises Its ACA Bet

Insurance startup Oscar Insurance Corp. said it plans to expand its offerings in the Affordable Care Act marketplaces, as insurers face a federal deadline Wednesday for initial filings to participate in the health law's exchanges next year.

Acting CFTC Chief Cautions EU on Brexit-Related Clearinghouse Moves

The U.S.'s top derivatives regulator cautioned the European Commission that there would be no change to trans-Atlantic standards for supervising clearinghouses, despite any steps to push London-based clearinghouses toward Europe in the wake of Brexit.

(END) Dow Jones Newswires

June 21, 2017 11:16 ET (15:16 GMT)