News Highlights: Top Global Markets News of the Day

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At Odds With Official PMI, Caixin China PMI Slows in November

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Growth in China's manufacturing sector slowed in November, according to a private gauge, which offered a conflicting signal of factory activity in the world's second-largest economy after official data showed unexpected strength.

Japan's Inflation Picks Up Pace, Labor Market Tightens

Japanese consumer prices rose for the 10th straight month in October and at a faster pace, while the labor market tightened again offering small signs of progress in Japan's efforts to boost inflation and strengthen growth.

Global Stocks Slip on U.S. Tax Reform Setback

European stocks and U.S. equity futures dropped, weighed by complications in the U.S. effort to overhaul the tax code.

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Oil Jumps After OPEC Output Extension

Oil prices rose after the Organization of the Petroleum Exporting Countries and other big producers including Russia agreed to keep limiting their output through the end of 2018.

South Korea's Inflation Slows Despite Trade, GDP Gains

South Korean economic data offered mixed signals Friday, with the economy growing faster than initially estimated and trade strengthening, while inflation dropped to an 11-month low, a day after the central bank raised interest rates for the first time in over six years.

Senate Delays Vote on GOP Tax Plan Over Deficit Worries

Senate Republicans hit a stumbling block in their efforts to overhaul the tax code, forcing them to contemplate rewriting parts of their $1.4 trillion tax-cut plan and push back the vote to as early as Friday.

Senate Banking Committee to Vote on Powell Nomination Tuesday

The Senate Banking Committee is scheduled to vote Tuesday on the nomination of Jerome Powell to be the next Federal Reserve chairman.

House GOP to Propose Short-Term Spending Bill

House Republican leaders on Friday will propose a short-term patch to keep the government funded through Dec. 22 while they work on a detailed, two-year budget deal, GOP aides and lawmakers said Thursday.

8 Cents More for a Chicken Skewer: Sticker Shock in Japan

Even in deflation-wracked Japan, some companies believe conditions are strong enough to raise prices-a sign of how robust the world economy is getting.

Senate Tax Plan Won't Pay for Itself, Analysis Says

Senate Republicans' tax plan would modestly expand the economy but cover less than a third of its cost, failing to meet the party's promise that it will pay for itself through faster growth, according to an official congressional analysis.

(END) Dow Jones Newswires

December 01, 2017 07:15 ET (12:15 GMT)