News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

ECB's Draghi: We Need a Joint Effort to Tackle Bad Loans

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There needs to be a joint effort among many parties to help banks reduce their non-performing loans, ECB President Mario Draghi said, underlining one of the key challenges facing banking supervisors.

Energy Shares Carry Stocks to Records

Shares of global energy companies continued to climb, helping send stocks in Europe and Asia to multiyear highs.

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.

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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.

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.

Japan Stocks Hit Quarter-Century High

Tokyo's Nikkei Stock Average continued its surge, hitting its highest closing level since early 1992, at the tail end of the "bubble economy" days-though still far short of its 1989 record.

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.

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.

Australia's RBA Keeps Interest Rates on Hold

The Reserve Bank of Australia left its benchmark interest rate unchanged at a policy meeting Tuesday, as inflation continues to show weakness despite a surging job market and a stronger global economy.

(END) Dow Jones Newswires

November 07, 2017 05:15 ET (10:15 GMT)