News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Equities Pause After Rally

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Asian markets cooled by late morning Friday, pausing the global stock rebound that began a day earlier.

House Backs GOP Tax-Overhaul Bill

The House of Representatives passed a bill that would usher in the most far-reaching overhaul of the U.S. tax system in 31 years, backing a plan that would lower the corporate tax rate to its lowest point since 1939 and cut individual taxes for most households in 2018.

Fed's Williams Favors Gradual Rise of Rates Over Coming Years

San Francisco Fed Chief John Williams said Thursday he still favors gradually raising short-term interest rates over coming years and looks forward to discussing the matter with his colleagues at their meeting next month.

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U.K. Faces Hurdles on Path to a Free-Trade Era

British leaders envision a free-trade bonanza from Brexit, but they confront some thorny challenges in just keeping the global trade benefits Britain already enjoys as a European Union member.

Congressional Leaders Close In on Spending Deal

Top congressional leaders are getting closer to a deal on raising the federal government's overall spending levels for the next two years, people familiar with the discussions said Thursday.

Bond Investors' Suit Claims Dealers Colluded on Treasurys Prices

Some of the largest bond trading firms on Wall Street boosted profits by colluding to set prices at auctions of government debt, according to an amended complaint to a lawsuit filed by a group of investors.

Fed's Williams: Time For Central Bankers to Weigh New Policy Toolkit

Federal Reserve Bank of San Francisco President John Williams called again on Thursday for policy makers to rethink how they conduct monetary policy in a changed economic and financial landscape.

Mester Says Fed Should Reassess Its Inflation Target

Cleveland Fed President Loretta Mester said now is a good time for the U.S. central bank to reassess how it sets its policy goals, joining other officials in calling on the Fed to rethink its 2% inflation target.

Fed's Kaplan 'Actively Considering' Support for Rate Increase

Federal Reserve Bank of Dallas President Robert Kaplan said Thursday he is "actively considering" supporting an increase in short-term interest rates at coming U.S. central bank policy meetings.

Yellen to Testify Before Joint Economic Committee Nov. 29

Federal Reserve Chairwoman Janet Yellen will testify to the Joint Economic Committee on Nov. 29, in what likely will be her last congressional hearing before her term as chairwoman ends.

(END) Dow Jones Newswires

November 17, 2017 01:15 ET (06:15 GMT)