News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Industrial Production Rose 0.2% in November

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U.S. industrial production rose in November, boosted by a post-hurricane recovery in oil and gas extraction.

U.S. Stocks Climb as Investors Await Final Tax Plan

U.S. stocks bounced higher as investors awaited details of a compromise tax-overhaul plan in Washington. Indexes in Europe and Asia fell.

EU Leaders Agree to Advance Brexit Talks

European leaders agreed to advance Brexit negotiations but called on U.K. Prime Minister Theresa May to tell them quickly what her government wants from a future trade agreement for serious talks to start in March.

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Several GOP Senators Press for Late Changes in Tax Bill

Several Republican senators, including Marco Rubio, expressed last-minute doubts about the tax plan in Congress, possibly an attempt to strengthen their negotiating positions before final votes planned for next week.

New York Manufacturers Report Slower Growth in December

An index from the Federal Reserve Bank of New York measuring business conditions for New York manufacturers fell again in December as delivery times grew and the number of employees fell.

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.

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.

Macron, Merkel Edge Towards Deal on Deeper Eurozone Integration

Leaders of France and Germany said they were working toward a plan to deepen the economic and financial cooperation of countries using the eurozone.

Dollar Scarcity Sends Global Funding Costs Soaring

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.

(END) Dow Jones Newswires

December 15, 2017 11:15 ET (16:15 GMT)