News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Stocks Steady as Investors Look to Fed for Cues

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Stock markets were muted as investors awaited insights into the Federal Reserve's monetary plans. The S&P 500 gained 0.1% in early trading.

Fed Eyes September Announcement on Balance-Sheet Reduction

Fed officials have indicated there is a strong chance they will announce in September a decision to start shrinking the central bank's portfolio, while putting off until December any further interest-rate increase.

Saudi Aramco Cuts Oil Prices in Asia As Competition Rises

Saudi Arabia's state-run oil giant Aramco said it would cut the price of its lighter crude grades to Asia in August, amid rising competition from rival producers in the Organization of the Petroleum Exporting Countries.

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Eurozone Economy Picked Up Speed in Second Quarter

The eurozone's economic recovery likely accelerated in the three months to June, according to business surveys that have been a good guide to growth in the past.

U.S. Factory Orders Fell More Than Expected in May

Orders for manufactured goods decreased 0.8% to a seasonally adjusted $464.86 billion in May, the Commerce Department said. Economists surveyed expected orders fell 0.6%.

Germany Bolsters China Ties as Trump Policies Raise Concern

German Chancellor Angela Merkel and China's President Xi Jinping pledged to boost economic cooperation between their countries as they met ahead of what is expected to be an unusually tense G-20 summit.

WSJ's Daily Shot: Spending on Hotel Construction Has Flatlined

ECB Hasn't Discussed Halting Easy Monetary Policy, Says Key Board Member

The European Central Bank hasn't talked about changing its monetary policy, Benoît Coeuré said, underscoring the central bank's patient approach to normalizing its expansionary programs.

Oil Falls in Low-Volume Holiday Trading

Oil prices fell on Wednesday on concerns about oversupply and amid shallow trading around the July 4 public holiday in the U.S. that exacerbates price movements.

South Africa Plans to Nationalize Central Bank

South Africa's ruling party wants to nationalize the Reserve Bank, a top party officials said, a move that would end its status as one of the few central banks around the world that still has private shareholders.

(END) Dow Jones Newswires

July 05, 2017 11:16 ET (15:16 GMT)