News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Stocks Drift Following Rally

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The S&P 500 paused Wednesday ahead of the Thanksgiving holiday, but investors aren't damping their enthusiasm that the index will resume its climb.

U.K. Makes Sharp Cuts to Economic Growth Forecasts

U.K. Treasury chief Philip Hammond presented gloomier forecasts for the economy, in a budget address to Parliament that earmarked an extra $3.97 billion over the next two years to prepare for the country's departure from the EU.

U.S. Durable-Goods Orders Fell in October

Orders for long-lasting factory goods declined in October, a setback for manufacturers experiencing solid growth in demand this year.

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U.S. Consumer Sentiment Pulled Back in November

A measure of U.S. consumer sentiment pulled back in November but remained high, a sign of still-solid economic optimism headed into the holiday shopping season.

U.S. Jobless Claims Decline Heading into Holiday Season

The number of Americans filing new applications for unemployment benefits fell last week, the latest signal the labor market is on strong footing heading into the end of the year.

European Consumer Confidence Surges

Eurozone consumer confidence surged in November to reach its highest level since the start of 2001, a sign that the stronger rate of economic growth achieved in 2017 is likely to continue into next year.

U.S. Oil Supplies Fall as Refinery Runs Increase

U.S. inventories of crude oil decreased by 1.9 million barrels, more than expected, for the week ended Nov. 17 as refinery activity continued to pick up steam, according to EIA data. Gasoline stockpiles climbed by 44,000 barrels, less than expected.

Banks Mustn't Set Up Shells if They Want to Retain EU Access, Say Officials

European financial officials reiterated that banks and insurers shouldn't expect to set up letterbox firms in the European Union if they want to retain access to the bloc post-Brexit.

Hang Seng Index Tops 30000 for First Time in a Decade

Hong Kong's main stock index surged past 30000 for the first time in 10 years, as a wave of Chinese buying and a surge in shares of tech giant Tencent Holdings propelled the market through its latest milestone.

Oil Hits Two-Year Highs as U.S. Stockpiles Drop

Oil prices rose to the highest level in more than two years Wednesday, boosted by a drop in U.S. crude stockpiles.

(END) Dow Jones Newswires

November 22, 2017 13:15 ET (18:15 GMT)