Fed on Track for December Rate Rise, but Inflation Worries Persist
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Federal Reserve officials said at their latest meeting they likely would raise rates "in the near term" as the economy strengthens, although several said their support for the move would hinge on inflation picking up, according to minutes released Wednesday.
Global Stocks Drift Following Rally
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.
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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.
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-Rig Count Rises in Latest Week
The number of rigs drilling for oil in the U.S. rose by nine to 747 this week, Baker Hughes, a GE company, reported.
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.
(END) Dow Jones Newswires
November 22, 2017 15:15 ET (20:15 GMT)