News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

President Trump Unlikely to Nominate Gary Cohn to Become Fed Chairman

Continue Reading Below

President Donald Trump is unlikely to nominate Gary Cohn, his top economic adviser, as the next Federal Reserve chairman, indicating that he is open to considering additional names for a pick he has said he would like to make by year's end, according to people familiar with the president's thinking.

Fed's Beige Book: Growth Continues Despite Slowing Employment Gains

Economic activity grew at a measured pace across the country even though employment growth slowed somewhat in July and August, according to a new report from the Federal Reserve.

U.S. Stocks Climb After Stumble

U.S. stocks rebounded from their worst session in weeks, boosted by shares of energy companies. The Dow industrials added 0.2%.

Continue Reading Below

Brazil Central Bank Cuts Selic Rate to 8.25%

Brazil's central bank cut its benchmark lending rate by a full percentage point as prices increased at the slowest pace in almost 20 years, and signaled a smaller rate cut at its next monetary policy meeting.

U.S. Trade Gap Widens with China, Mexico

The trade deficit with the largest U.S. trading partners, including China, widened this year, further evidence the Trump administration could use to advance its trade agenda.

The Market's Big Puzzle: What Is Happening to Growth and Inflation?

Globalization, the decline of labor unions and the rise of big multinationals may be changing the way the economy works.

U.S. Service Sector Strengthened in August

The U.S. service sector gained momentum last month, as sales climbed and companies boosted hiring. The Institute for Supply Management said its index of nonmanufacturing activity rose to 55.3 in August.

Analysis: Dudley Speech Could Send Important Signals on Fed's Direction on Rates

A Thursday evening speech by New York Fed leader William Dudley may prove pivotal in signaling whether the U.S. central bank will be able to deliver another interest-rate increase this year.

Bank of Canada Surprises With Another Rate Rise

The Bank of Canada raised its benchmark interest rate by a quarter-percentage point to 1%, saying stronger-than-anticipated growth-highlighted by a blockbuster performance in the second quarter-warrants the removal of "considerable" stimulus from the economy.

Oil Jumps to One-Month High As Harvey Concerns Ease

Oil prices gained Wednesday on renewed demand as refineries in the Gulf Coast restarted operations.

(END) Dow Jones Newswires

September 06, 2017 19:15 ET (23:15 GMT)