News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.K. Economy Posts Lackluster Growth

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U.K. economic growth remained subdued in the second quarter of the year, preliminary data showed, as weak performances from the manufacturing and construction industries offset an improvement in services.

Markets on Watch for Fed Announcement

Stocks in Europe and Asia were a touch higher ahead of a closely watched announcement from the Federal Reserve.

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.

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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.

Trump Says Administration Is Taking Time on Steel Tariffs

President Donald Trump said his administration would take its time in making a long-awaited decision on whether to block steel imports, saying "we don't want to do it at this moment."

Weak Inflation in Focus at Fed's July Policy Meeting

Federal Reserve officials are likely to hold monetary policy steady at the conclusion of their two-day meeting Wednesday, but any changes in their policy statement will be scrutinized for clues about the path for interest rates and when they might start shrinking the Fed's balance sheet.

Oil Gains on Saudi Push for Compliance With Output Cuts

Oil prices rose for the second day in a row, as investors found reassurance from OPEC's attempts to limit crude supply and signs of slowing production in the U.S.

Bank of Japan's Latest Weak-Inflation Explanation: Labor Saving

Deputy Gov. Hiroshi Nakaso became the latest Bank of Japan official to flag improved productivity as an explanation for sluggish price growth-a view that has yet to gain much traction outside the central bank.

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.

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

President Donald Trump said 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.

(END) Dow Jones Newswires

July 26, 2017 05:15 ET (09:15 GMT)