News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Stocks Drop on Lackluster Earnings

Continue Reading Below

A raft of downbeat earnings sparked broad declines in U.S. stocks, sending the Dow industrials down more than 100 points and putting the blue-chip index on track for its worst session in weeks.

Saudi Arabia, Russia Want Oil Output Limits Through 2018

Top oil producers Saudi Arabia and Russia want to extend their agreement to limit petroleum production until the end of 2018 in their continuing effort to cut the global oil oversupply, people familiar with the matter said.

GOP House Tax Chief: Changes to 401(k) Are Still on the Table

Republicans are still weighing adjustments to a popular retirement savings program, the chief of the House tax writing committee said, contradicting President Donald Trump's statement this week that it would be unchanged in the coming tax overhaul proposal.

Continue Reading Below

U.S. Durable Orders Rose 2.2% in September

Demand for long-lasting U.S. factory goods remained robust last month, pointing to ongoing strong business investment.

New Home Sales Growth Surges to 25-Year High

U.S. new-home sales in September recorded the largest single-month increase since 1992, a sign the market remains resilient despite two major hurricanes and an ongoing inventory shortage.

Bank of Canada Leaves Rates Unchanged, Pledges Cautious Policy Approach

The Bank of Canada left its policy interest rate unchanged at 1% after increases in July and September, vowing to be cautious in future deliberations as growth is expected to slow, wage gains remain subdued and the Trump administration's trade policy poses an "elevated" risk.

U.S. Oil Inventories Rise, But Fuel Supplies Fall

U.S. inventories of oil unexpectedly increased by 856,000 barrels, but gasoline and other fuel supplies fell sharply, according to data from the Energy Information Administration.

Oil Prices Are Up. Why Aren't Energy Shares?

Oil prices are bouncing back from a three-year slump, but investors in energy companies seem to have missed the memo.

U.K. Economy Accelerates, Bolstering Case for Rate Rise

The U.K. economy accelerated in the third quarter, according to a preliminary estimate, strengthening expectations that the Bank of England may raise interest rates as soon as next month.

Bond Funds Dump Puerto Rico

Franklin Resources, one of Puerto Rico's largest creditors, sold hundreds of millions of dollars of the island's bonds in recent days, part of an exodus of investors hurt by accelerating losses in the wake of recent hurricanes.

(END) Dow Jones Newswires

October 25, 2017 13:15 ET (17:15 GMT)