News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Asian Stocks Give Up Gains; Japan, Australia Outperform

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Asian shares gave up earlier gains Wednesday, though Japanese and Australian stocks outperformed, helped by an improvement in appetite for risk, which pushed the U.S. dollar and commodity prices higher overnight.

Health Debate Rolls On After First Option Fails

Senate Republicans overcame a range of internal fissures in voting to begin debate on their health-care overhaul, but the party suffered a setback hours later when a proposal replacing major portions of the Affordable Care Act failed to attract enough votes to pass.

Trump Eyes Tax-Code Overhaul, With Emphasis on Middle-Class Break

President Donald Trump is signaling his next priority: overhauling the tax code to push corporate rates down and give middle-class taxpayers a break, even if it means some of the wealthiest pay more.

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U.S. Readies Sanctions Against Chinese Entities Over North Korea

The U.S. soon will issue new sanctions against Chinese entities for violating United Nations sanctions against North Korea, a senior State Department official said Tuesday.

Trump Sees 'Major Trade Deal' With U.K.

President Donald Trump said Tuesday his administration was negotiating "to do a major trade deal" with the U.K., aiming to have it kick in soon after Britain completes its exit from the European Union in early 2019.

Australia's Central Bank Rules Out Need to Follow Pack

Australia's central bank chief on Wednesday dismissed the idea that the bank needs to change its stance in automatic response to a changing tide of opinion on policy overseas or the latest signs of weakness in domestic inflation.

BOJ's Nakaso Says Improvement in Productivity Behind Sluggish Price Rises

Bank of Japan Deputy Gov. Hiroshi Nakaso said Wednesday that improvements in firms' productivity and their labor-saving efforts are likely contributing to the sluggish price increases in Japan despite strength of the overall economy.

Australian Inflation Muted in 2nd Quarter

Australian inflation was more muted than expected in the second quarter, reflecting weak wages, lower fuel costs and a surprise drop in fruit prices.

VIX Sets New Milestone, Falls to Record Intraday Low

A key measure of market volatility set a new floor Tuesday

Prosecution in Martin Shkreli Case Presents Final Evidence

Closing arguments are scheduled to take place Thursday; the jury could get the securities-fraud case before the end of the week.

(END) Dow Jones Newswires

July 26, 2017 01:15 ET (05:15 GMT)