News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

McCain's Support Bolsters GOP Hopes for Tax Overhaul

Continue Reading Below

Sen. John McCain said he would support a $1.4 trillion tax cut that Republicans are advancing in the Senate, pushing the plan closer to passage though intense jockeying is still playing out among lawmakers.

Dow Industrials Cross 24000

U.S. stocks rose Thursday, sending the Dow Jones Industrial Average above 24000 for the first time.

OPEC Agrees to Limit Oil Output Through 2018

OPEC and a Russia-led group of big-oil producers agreed to keep limiting their output through the end of 2018, as they seek to provide assurance for an oil industry still working through a fragile recovery.

Continue Reading Below

Americans' Spending, Incomes Rose Briskly in October

Americans spent steadily in October while their incomes grew healthily, suggesting the economy is posting another quarter of strong growth.

Fed Official Steps Up Concern Over Bitcoin

Digital currencies such as bitcoin may not be secure enough for widespread public use, Federal Reserve official Randal Quarles said, stepping up the agency's concern over the highflying virtual currency.

Dallas Fed's Kaplan Wants Gradual, Patient Rate Increases

Federal Reserve Bank of Dallas President Robert Kaplan said he continues to advocate for "gradually and patiently" increasing interest rates as below-target inflation rates reduce the need for haste despite low jobless numbers.

The Return of the Repo: A Market's Postcrisis Comeback

An obscure but vital corner of financial markets is making a comeback after the financial crisis-repos-as banks begin to rejoin the increasingly buoyant market.

U.S. Jobless Claims Fell, Signaling a Strengthening Labor Market

The number of Americans filing applications for new unemployment benefits fell last week, showing the overall strength of the labor market.

Oil Prices Decline After OPEC Announces Deal

Oil prices edged lower on Thursday, after a group of major oil producers came to an agreement to extend supply cuts through the end of next year.

Trigger Warning: How a Tax Measure Could Worsen the Next Recession

A trigger could impose tax hikes or spending cuts on the economy at a moment when it is already weak, a step that economists say might worsen the next recession.

(END) Dow Jones Newswires

November 30, 2017 15:15 ET (20:15 GMT)