News Highlights: Top Global Markets News of the Day

Published November 06, 2017
Dow Jones Newswires

Global Markets: Australian Stocks Reach Highest Point Since 2008

Most global markets lacked direction, though Australia's benchmark reached its highest point since 2008. Hong Kong stocks also rose.

Tax Overhaul Faces Major Hurdles

A House committee began considering a bill Monday that would reduce taxes by $1.4 trillion over 10 years, but disagreements over key pieces of the measure could force the GOP to make changes and slow down plans to pass it by year's end.

Fed's Williams: Price-Level Targeting May Be Good Regime for Fed

Federal Reserve Bank of San Francisco President John Williams says fundamental uncertainties about the economy mean officials may need to weigh a seismic shift in how they conduct monetary policy.

For Investors, Saudi Crackdown Sparks Hope, Risks Uncertainty

A far-reaching crackdown that extends into Saudi Arabia's business elite has abruptly raised the stakes for global investors just as the kingdom embarks on a campaign to lure foreign capital to help overhaul its oil-dependent economy.

Employment Index Rises Following Declines From Hurricanes

After two months of declines related to hurricanes, an index measuring employment trends was up for the month of October. The Conference Board Employment Trends Index rose to 135.57.

New Zealand Details Reserve Bank Review

A review of a law that governs New Zealand's central bank will investigate how the bank can make decisions through a committee and keep the unemployment rate low.

U.S. Treasury's First Director of Office of Financial Research to Leave Post

Economist Richard Berner plans to leave his post as the Treasury Department's first-ever director of the Office of Financial Research at the end of the year.

Oil Hits Two-Year High Amid Crackdown in Saudi Arabia

Oil prices hit a two-year high Monday on rising tensions in the Middle East following a wave of arrests in Saudi Arabia and a missile attack on Riyadh by Yemeni rebels.

U.S. Stock Indexes Post Records

Rallying energy shares pushed U.S. stock indexes to another set of records Monday.

New York Fed Says Dudley Plans to Retire in Mid-2018

The Federal Reserve Bank of New York announced Monday that its leader William Dudley is planning to step down early and retire in the middle of next year.

(END) Dow Jones Newswires

November 06, 2017 21:15 ET (02:15 GMT)