News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Stocks in Europe, Asia Follow Wall Street Lower on Tax Uncertainty

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Stocks in Europe and Asia moved lower after growing uncertainty around a potential tax overhaul dulled investors' enthusiasm in the U.S.

Latest Tax Reform Stumble Hits Stocks

Major stock indexes added to losses Thursday after Sen. Marco Rubio said he would oppose a Republican tax bill unless it includes a credit for the working poor that he had championed.

Bank Stocks Can Fight the Fed, for Now

At some point, higher interest rates may become a negative for banks, but not for a while. Despite the flattening of the yield curve, banks' net interest margins have been rising, and their stocks have fared well.

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Oil Edges Up Amid Pipeline Outage

Oil prices firmed, supported by a pipeline outage in the North Sea and ongoing cuts by major producers, but higher forecasts for U.S. output in 2018 from major energy groups this week limited gains.

Dollar-Funding Costs in Europe Highest Since Euro Crisis

The cost of derivatives that allow European investors to access U.S. dollars has rocketed this week, with some reaching their steepest levels since the worst days of the eurozone sovereign-debt crisis.

Tax Overhaul Would End Breaks for Executive Pay

A decades-old corporate tax break for performance-based pay of top executives faces elimination under the current tax bill, as Republican lawmakers say it has failed to encourage responsible management.

Russian Central Bank Cuts Key Interest Rate

Russia's central bank cut its benchmark interest rate to 7.75% from 8.25%, citing lower-than-target inflation.

China's Central Bank Expands Commercial Bank Lending

China's central bank is expanding its supply of funds to domestic lenders facing shortages of liquidity for their clearing businesses.

Japan's Big Manufacturers Optimism at 11-Year High

Business confidence among Japan's large manufacturers reached an 11-year high in the October-December quarter on solid earnings, strengthening global growth and a domestic economy that has expanded for seven straight quarters, a central bank survey showed Friday.

Young CEO Reshapes 140-Year-Old Metals Exchange

Matthew Chamberlain's appointment placed the 35-year-old former banker atop an institution that plays a powerful role in setting metals prices-yet is lagging behind more modern rivals in electronic trading at a time of stagnant trading volumes.

(END) Dow Jones Newswires

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