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Analysis: Recent Reserve Bank Picks Boost Consensus at the Fed

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The appointment of Thomas Barkin, a McKinsey & Co. executive, to lead the Federal Reserve Bank of Richmond reinforces a gradual shift among central bank officials away from dissenters and toward consensus.

Trump Team to Slash Budget, Staff at Financial-Data Office

The Trump administration has told employees of the U.S. Office of Financial Research to expect deep budget and staffing cuts, according to people familiar with the matter, the latest example of its efforts to undo policies put in place under former President Barack Obama.

Global Stocks Decline as Selloff Deepens

Global stocks fell further after the S&P 500's first three-day losing streak since August, with indexes in Hong Kong and Japan posting their biggest daily point declines in over a year.

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U.S. Labor Costs Unexpectedly Fell in Third Quarter

U.S. productivity surged in the third quarter while labor costs fell further, another sign of subdued inflation pressures despite a sturdy economy.

Oil Falls on Rising U.S. Gas Supplies

Oil prices edged down, partly in response to rising U.S. product inventories.

Move Over, Cushing: Houston Emerges as Key Oil Trading Hub

Houston has long been the capital of the U.S. energy industry. Now it is vying to be the center of global oil trading, as analysts say the Houston price better reflects market dynamics for U.S. crude than Cushing, Oklahoma.

NYSE's Owner Resists Rushing Into Bitcoin

The owner of the New York Stock Exchange is taking a wait-and-see approach to bitcoin, even as two of his main competitors prepare for the launch of futures markets based on the fast-rising cryptocurrency.

House GOP Postpones Short-Term Spending Bill Vote

A dispute among House Republicans over their year-end strategy forced GOP leaders to delay a vote on a stopgap spending bill, with just a handful of days before a partial government shutdown.

California Republicans Push to Preserve Income-Tax Deduction

Though the House and Senate have voted to repeal the deduction for state income taxes in GOP tax overhaul plans, House Republicans from California are seeking to have it preserved in the final tax bill.

(END) Dow Jones Newswires

December 06, 2017 09:15 ET (14:15 GMT)