News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. GDP Growth Revised Up to 3%

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U.S. economic growth was stronger than initially thought during the second quarter, a sign of momentum headed into the second half of 2017. Corporate profits fell 1.4% in the second quarter after rising 1.3% in the first, but profits were up 8.1% from a year earlier.

U.S.'s Largest Refinery Shuts Due to Harvey Flooding

The nation's largest refinery, in Port Arthur, Texas, has initiated a full shutdown due to flooding, as Tropical Storm Harvey pushes east of Houston, dumping more rain on the region.

Stocks Steady as North Korea Worries Fade

Stocks were steady as investors brushed aside the worries that followed North Korea's missile launch over Japan and parsed fresh readings on the global economy.

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ADP: U.S. Private Sector Adds 237,000 Jobs in August

Hiring at private U.S. employers grew more than expected, according to a recent report, showing the economy continues to grow although concerns are mounting about labor shortages.

Fallout From Harvey to Disrupt Energy Markets Around the World

Tropical Storm Harvey is upending the flow of oil and petroleum all around the world-a consequence of the growing influence of the U.S. in the global energy industry.

Weakening Harvey Comes Ashore Again, Dousing Louisiana

Tropical Storm Harvey, which has killed 19 people, came ashore again, bringing heavy rains and winds to southwestern Louisiana, but far less than the record rainfall it brought on Texas.

New Worry in 'Repo': Just One Bank for $3.5 Trillion Market

Bank of New York's rival in the business of clearing U.S. Treasurys and repurchase agreements backed by them is exiting the business, prompting worry over the risks of having one bank handle such business.

U.S. Oil Supplies Fall More Than Expected

U.S. inventories of crude oil declined by 5.4 million barrels, triple the amount expected, for the week ended Aug. 25 as refinery activity surged toward full-throttle, according to EIA data.

NYSE Seeks Delay on End-of-Day Company Announcements

The New York Stock Exchange wants a brief delay on the late-afternoon release of important company news, saying that when firms publish such announcements too soon, it causes confusion and undermines the NYSE's crucial closing auctions.

Fed's Powell Says Proposal for Bank Boards Will Simplify Responsibilities

The Federal Reserve's proposed easing of requirements for bank boards isn't meant to take the pressure off directors who sit on the boards, Fed Gov. Jerome Powell said.

(END) Dow Jones Newswires

August 30, 2017 13:15 ET (17:15 GMT)