News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

GOP Tax Overhaul Aims for Corporate Cuts, Simpler Code

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A sweeping Republican plan to overhaul the U.S. tax code proposes to sharply reduce tax rates on businesses and many individuals- kicking off an effort by President Donald Trump and congressional leaders to build momentum for a challenging legislative push in the months ahead.

Stocks Climb as Investors Bet on Higher Interest Rates

U.S. stocks rose, buoyed by shares of financial companies, as investors extended bets on an improving economy and corporate profits. The S&P 500 gained 0.4%.

Progress Made at Latest Nafta Talks, but Uncertainty Remains

The third round of talks to renegotiate the North American Free Trade Agreement came to an end Wednesday amid growing pessimism that the U.S. and its counterparts remained far apart on important issues.

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U.S. Bank Regulators Propose Changes to Capital Rules

U.S. regulators proposed to modify bank capital rules affecting commercial real-estate loans, mortgage-servicing rights and other areas in a move they said responded to industry concerns.

Family Wealth, Incomes Rose, Fed Survey Says

U.S. families' wealth and incomes rose across the board as the economic recovery continued in recent years, a shift after they stagnated for all but the most well-off in the aftermath of the recession, the Federal Reserve reported Wednesday.

Germany's Schäuble Set to Yield Post as Finance Minister

Wolfgang Schäuble, one of Europe's elder statesmen, is set to bow out as Germany's finance minister in the wake of the country's election, ending an era in which he shaped Europe's response to its debt crisis.

Saudi Arabia Sells $12.5 Billion of Bonds

Saudi Arabia sold $12.5 billion worth of bonds, the largest sovereign debt issue this year, as the kingdom taps the international markets again to bolster its finances hurt by lower oil prices.

New York Fed Working to Make Sure Puerto Rican Banks Have Cash They Need

While demand for cash is "extraordinarily high" in Puerto Rico following Hurricane Maria, the New York Fed said that "we have adequate inventory to meet demand from depository institutions on the island."

St. Louis Fed's Bullard Says Rates Should Stay Right Where They Are

St. Louis Fed President James Bullard said short-term interest rates are where they should be, given dim prospects for a significant rebound in economic growth or a surprise boost in inflation this year.

Bank of Canada's Poloz Stresses There Is 'No Predetermined Path' for Rates

After two consecutive interest-rate rises, the Bank of Canada will work from a clean slate when making rate decisions as it contends with an uncertain outlook for inflation, Gov. Stephen Poloz said.

(END) Dow Jones Newswires

September 27, 2017 19:15 ET (23:15 GMT)