News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Stocks, Commodities Rebound After Selloff

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Global stocks rebounded after the S&P 500 posted its biggest daily drop since early September.

Fed's Rosengren Says Data Favors a December Rate Increase

Federal Reserve Bank of Boston President Eric Rosengren said the economy's expected path means the U.S. central bank will need to keep raising rates and will likely need to act again next month.

Fed's Brainard Sees Widening Gulf in Economic Fortunes in Cities vs. Small Towns

Federal Reserve governor Lael Brainard said Wednesday that wide disparities remain between the economic fortunes of people in big cities and those in small towns despite the economy's improvements overall.

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Philippine Central Bank Plays Down Strength of Economy

The Philippine economy showed surprising strength in the third quarter, outpacing growth in China and prompting the central bank to reaffirm its current policy stance amid speculation it might become the first in Southeast Asia to raise interest rates.

Low-Inflation Risk Motivated Bank of Canada's Caution on Rates: Wilkins

The risk posed by low inflation and concern about households immediately paring back spending after two recent rate increases helped motivate the Bank of Canada to embrace a cautious approach in future policy decisions, Carolyn Wilkins, the central bank's senior deputy governor, said Wednesday.

Australia's Unemployment Rate Falls Further

Australia's unemployment rate fell to a 4 1/2 year low in October, extending an impressive run of jobs growth for the resource-rich economy this year.

Bipartisan Plan Would Boost Health-Insurance Markets

Republican lawmakers looking to repeal a rule requiring most people to have health insurance said they were now more open to a bipartisan plan to bolster the insurance markets, since they would likely face political responsibility for the health-care system.

South Korean, Canadian Banks Agree on Currency Swap

The central banks of South Korea and Canada have agreed on a currency swap deal to help each other strengthen a buffer against any external shocks from global financial markets.

Republican Sen. Ron Johnson Opposes GOP Senate Tax Package

Sen. Ron Johnson, a Wisconsin Republican, said he opposes the Senate GOP tax package, saying it unfairly benefits corporations more than other types of businesses. His position could undermine the Senate's efforts to pass a tax plan by early December.

CFPB Head Cordray to Step Down, Paving Way for Change at Watchdog

Richard Cordray, the first head of a consumer regulator created after the financial crisis, plans to leave at the end of November, ending a tumultuous six-year tenure and paving the way for President Donald Trump to restructure the agency.

(END) Dow Jones Newswires

November 16, 2017 05:15 ET (10:15 GMT)