News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Stocks On Track for Monthly Gains

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Stocks started the week firmer as better-than-expected corporate results and a climb in commodity prices lifted global markets.

Pending Home Sales Rose 1.5% in June

The National Association of Realtors' pending home sales index, which tracks signings for purchases of previously owned homes, increased 1.5% from a month earlier to 110.2, the trade group said. Economists surveyed had expected sales to tick up 0.7% in June.

Beijing's Capacity-Cut Talk Stokes China's Metals Markets

Beijing's renewed vows to slash steel capacity triggered a big rally in Chinese metals futures Monday, again highlighting the government's ability to move markets-but also raising concern that prices have become overextended.

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Eurozone's Low Unemployment, Inflation Raises Questions for ECB

The eurozone's unemployment rate has fallen to its lowest level in more than eight years, but inflation is unchanged-highlighting the challenge at the heart of the European Central Bank's decision on dialing down its stimulus programs.

Fed's Fischer Says Low Global Real Interest Rates Important to Economic Environment

Federal Reserve Vice Chairman Stanley Fischer warned that the low level of the so-called natural rate of interest "sends a powerful signal that the growth potential of the economy may be limited."

Oil Lower as Rally Fades

Oil prices turned lower Monday, after U.S. crude futures briefly broke above $50 a barrel for the first time since May, as a rally ran out of steam.

China Factory Activity Loses Momentum, Signaling Possible Economic Slowdown

A gauge of China's manufacturing activity fell more than expected in July, offering a sign of an anticipated slowdown in the world's second-largest economy after a strong start to the year.

Mexico's Economy Slows Less than Expected

Mexico's economic growth slowed less than expected in the second quarter as robust output in services continued to compensate for a modest advance in industrial production.

ECB Urges Fines for European States Breaking Reform Rules

The European Union should consider slapping large fines on European governments that fail to adopt its economic-reform proposals, the European Central Bank said.

Venezuela Bonds Steady After Vote, as Investors Await Clarity on Sanctions

Venezuelan bonds were steady early Monday as investors awaited word on U.S. sanctions that could impact one of the South American nation's most crucial sources of revenue: Oil sales to the U.S.

(END) Dow Jones Newswires

July 31, 2017 11:15 ET (15:15 GMT)