News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Economy Reaches Its Potential Output for First Time in Decade

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The U.S. economy is running at its full potential for the first time in a decade, a new milestone for an expansion now in its ninth year. U.S. GDP growth was revised up to a 3.3% rate for the third quarter, reflecting more business investment in equipment and software, and heftier government spending.

Corporate Tax Rate in Flux as Senate Nears Initial Vote

Senate Republicans plunged into a debate about whether to cut the corporate tax rate by less than currently planned in a bid to come up with money to pay for other priorities and win votes for a sweeping tax package.

Dow Industrials Close at Another Record High

The two biggest slices of the S&P 500-technology companies and financial firms-played tug of war with the broader index Wednesday.

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Small Investors Latch On for Bitcoin's Wild Ride

Bitcoin soared and then tumbled as volatility in the digital currency picked up, with the price of bitcoin dropping below $9,500 just hours after it broke through $10,000 and $11,000 for the first time.

Fed Reports Economic Gains, Strengthening Price Pressures

Economic activity expanded at a "modest to moderate pace" in recent weeks amid signs of rising prices and ongoing strength in labor markets, the Federal Reserve's beige book report said Wednesday.

Fed's Williams Wants Officials to Press Forward With Rate Increases

Federal Reserve Bank of San Francisco President John Williams called on Wednesday for slow and steady rate rises, but didn't give any hints when he would next like to see them go up.

Dutch Central Bank Governor Calls for End to ECB Stimulus

The European Central Bank should phase out its giant bond-buying program from next September or risk damaging economic side-effects such as mis-allocation of credit to "zombie" firms, a top ECB official said on Wednesday.

Russia, Saudi Arabia Clash Ahead of OPEC Meeting

Russia and Saudi Arabia are trying to hammer out differences over petroleum output ahead of OPEC's meeting, highlighting the fragility of an energy alliance between the world's two largest crude-oil producers.

Yellen Says Fed Will Continue Path of Gradual Rate Increases

Federal Reserve Chairwoman Janet Yellen said central bank officials would continue to gradually raise short-term interest rates because the economy is performing largely in line with their expectations.

Nasdaq Plans to Launch Bitcoin Futures in First Half 2018

Nasdaq and broker Cantor Fitzgerald are looking to join the rush on Wall Street to trade bitcoin, which powered above $11,000.

(END) Dow Jones Newswires

November 29, 2017 17:15 ET (22:15 GMT)