News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Stocks Little Changed as Global Rally Stalls

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This year's stock-market rally continued to stall Wednesday, with major U.S. indexes flipping between slight gains and losses.

Analysis: Recent Reserve Bank Picks Boost Consensus at the Fed

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.

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ADP: U.S. Private Sector Adds 190,000 Jobs in November

Hiring at private U.S. employers rose more than expected, according to a recent report, showing that the economy continues to grow. Firms across the country added 190,000 workers to their ranks in November.

U.S. Productivity Rebounds, Though Wages Lag

U.S. worker productivity rebounded in the third quarter while hourly wages rose moderately, further signs the economy is strengthening.

U.S. Oil Inventories Fall as Refinery Activity Surges

U.S. inventories of crude oil fell by 5.6 million barrels to 448.1 million barrels, as refinery capacity utilization increased sharply, according to data released by the Energy Information Administration. Gasoline stockpiles climbed 6.8 million barrels to 220.9 million barrels.

Wall Street's Fracking Frenzy Runs Dry as Profits Fail to Materialize

The shale-oil revolution boosted production and made America the world's oil-and-gas champion. Now, shareholders are insisting producers start focusing on returns for a change.

Oil Falls on Rising U.S. Gasoline Supplies

Oil prices extended losses after government data showed a steep rise in U.S. fuel inventories.

Bank of Canada Stands Pat, but Signals Higher Rates Ahead

The Bank of Canada kept its policy rate unchanged at 1% Wednesday, but signaled rate increases eventually would be required as economic conditions continue to improve.

ECB's Mersch Calls for More Symmetric Approach to QE

The European Central Bank should take a more balanced approach to its quantitative-easing program rather than hint at a possible increase in purchases, a member of the central bank's Executive Board said.

(END) Dow Jones Newswires

December 06, 2017 13:15 ET (18:15 GMT)