News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Yellen: Inflation Should Rebound, but Fed Could Alter Policy if Softness Persists

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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 and government bonds rallied and the dollar fell, after Federal Reserve Chairwoman Janet Yellen addressed a slowdown in inflation.

Bank of Canada Raises Policy Rate for First Time Since 2010

The Bank of Canada raised its policy rate to 0.75% from 0.50%, its first increase in seven years, on an improving economy that is soaking up unused labor and production capacity at a "significant" pace.

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SEC Head Calls on Agency to Ease Disclosure Rules on Public Firms

The Securities and Exchange Commission is drafting proposals aimed at simplifying complex disclosures prepared by public companies for investors, Chairman Jay Clayton said.

China's Bid to Curb Its Booming Housing Market Has Only Made It Hotter

The more China tries to rein in its roaring housing market, the more obsessed people get about buying. Stressed about the prospect of being left behind, many are borrowing heavily, believing prices will continue to rise.

Why 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.

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.

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.

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 as U.S. Stockpiles Shrink

Oil prices are holding to small gains after the a U.S. Energy Information Administration report said crude storage levels fell by 7.6 million barrels in the week ended Friday.

(END) Dow Jones Newswires

July 12, 2017 13:15 ET (17:15 GMT)