News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Yellen: 'Gradual' Rate Increases Will Be Needed to Sustain Economic Expansion

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The Federal Reserve will need to keep gradually raising its benchmark interest rate over the next few years, but that rate won't need to rise to levels seen in previous cycles, Fed Chairwoman Janet Yellen said in congressional testimony.

Stocks Climb as Investors Look to Yellen for Clues

Stocks bounced back, while government bonds found support as investors parsed fresh insight into the Federal Reserve's plans for interest rates. Futures pointed to a 0.4% opening gain for the S&P 500.

Long the Crisis Currency, the Euro's Surge Could Last

Once dubbed a crisis currency, the euro has outperformed its peers against the dollar and investors are betting there are gains to come.

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WSJ's Daily Shot: Is the Health-Care Legislation Uncertainty Starting to Impact Hiring?

OPEC Output Rose in June Despite Planned Cuts

The Organization of the Petroleum Exporting Countries produced more crude oil in June despite efforts to cut output and alleviate the global oil glut.

Chinese Banks Continued to Exceed Loan-Volume Expectations in June

Chinese banks extended higher-than-expected volume of loans last month even as growth in the money supply continued to slow amid Beijing's efforts to reduce leverage in its financial system.

Oil Climbs Ahead of Official U.S. Stockpile Data

Crude prices continued to advance on optimism that U.S. inventories likely shrank again last week.

EU's Barnier Says U.K. Must Honor Its Spending Pledges

Britain must stand by the past spending commitments it has made to the European Union if it wants to progress during Brexit talks into discussions on a future trade deal, the EU's chief negotiator Michel Barnier said on Wednesday.

Eurozone Industrial Output Grows at Fastest Since 2011

Output at the eurozone's factories, mines and utilities rose at the fastest annual pace in more than five years in May, a fresh indication that the eurozone's economic recovery picked up in the second quarter.

Gig Workers Pose Danger to Consumer Lending Boom

When banking regulators stress test bank's consumer loans, they look for rises in unemployment. In the gig economy, this is no longer likely to be as good a guide.

(END) Dow Jones Newswires

July 12, 2017 09:15 ET (13:15 GMT)