News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Dow Closes Above 23000 for First Time

Continue Reading Below

The Dow Jones Industrial Average on Wednesday closed above 23000 for the first time, driven by soaring shares of International Business Machines.

Fed's Beige Book: Economic Activity Grows Despite Hurricanes

Economic activity grew at a measured pace across the country in September and October, despite sector-wide disruptions caused by recent hurricanes in the Southern and Eastern U.S., according to a new report from the Federal Reserve.

SEC Names J.P. Morgan Executive as Top Regulator of Exchanges

The SEC on Wednesday tapped J.P. Morgan Chase's top electronic-trading executive as a senior regulator, signaling an appetite for shaking up rules that are blamed for fragmenting trading across dozens of venues and fomenting the rise of high-frequency trading.

Continue Reading Below

Hurricanes Weighed on Housing Starts

U.S. housing starts decreased last month for the fifth time in six months, as builders felt the brunt of construction delays as well as labor and material shortages caused by hurricanes in Florida and Texas.

Machines Took Over the Stock Market. Next Up, Bonds

Banks including Credit Suisse, Goldman Sachs and Morgan Stanley are unleashing new trading software systems in an attempt to pick up share in the $6 trillion market for investment-grade corporate debt.

Weakened Nafta, WTO Would Pave Way for Conflict

Trump administration attempts to neuter Nafta and the World Trade Organization are intended to sideline the referees from the world trade arena, but that would allow both the U.S. and rivals to be more aggressive, Greg Ip writes.

China's Xi Feeds Expectations for a Lengthy Reign

Opening a twice-a-decade Communist Party congress, Chinese President Xi Jinping signaled his ambition to shape the country far into the future as he set a new goal potentially achievable in his lifetime: to build a modern nation by 2035.

Fed Officials Warn Against Push for Tax Cuts Over Real Reform

The leaders of the Dallas and New York Federal Reserve banks warned that any overhaul of the tax code that emphasizes deficit-boosting tax cuts over making the system more efficient could bring short-term gain but lead to long-term pain.

Market's Unlucky-Sevens Streak Is in Danger

For the past 13 times that a year has ended in seven, going back to 1887, the Dow Jones Industrial Average or its predecessor has suffered a sharp downturn between August and November. Now this streak looks to be in jeopardy.

Algeria Adds Voice to Calls for OPEC to Continue Oil Cuts

Algeria wants OPEC to continue with production cuts, the country's state oil-company chief said, adding to expectations the cartel will keep withholding supplies from the market.

(END) Dow Jones Newswires

October 18, 2017 23:15 ET (03:15 GMT)