News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Markets Rise to Begin the Week

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Strength in financial stocks drove gains in Japan and Australia as investors reacted to prospects of a completed tax-reform bill getting through the U.S. Congress this week.

Global Economy Week Ahead: U.S. Inflation, Eurozone Wages, Bank of Japan Meeting

The week ahead features U.S. data on consumer spending and inflation, reports on European consumer confidence and wages, and a policy decision by the Bank of Japan.

OPEC's Strange Dilemma: Prices Rising Too High

OPEC is grappling with an unusual conundrum: Oil prices are going higher than it wants. A rise to $65 a barrel could undermine a fragile coalition of 24 oil-producing nations that says it is withholding almost 2% of global oil supply.

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Senators Rubio and Corker to Support Republican Tax Plan

Republican senators Marco Rubio and Bob Corker said they planned to support the GOP tax plan, bolstering the chances of passage as party leaders planned to release final details of the plan later Friday.

Stocks Rise as Hopes Grow for Tax Plan

The Dow Jones Industrial Average climbed to a fresh high Friday as investors bet that a tax-overhaul plan before Congress will pass, likely boosting profits for many U.S. companies.

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.

Fed's Quarles to Recuse Himself From Matters Involving Wells Fargo

Randal Quarles, the Federal Reserve's point man on financial regulation, said he would recuse himself from participating in matters related specifically to Wells Fargo, "to avoid even the potential appearance of a conflict of interest."

U.S. Industrial Production Rose 0.2% in November

U.S. industrial production rose slowly in November, with the increase entirely due to a post-hurricane recovery in oil and gas extraction.

White House Weighs Former CFTC General Counsel for CFTC Democratic Slot

The White House is considering nominating former top Commodity Futures Trading Commission official Dan Berkovitz to a Democratic vacancy on the panel.

Fed's Evans Says Concerns About Persistently Weak Inflation Behind His Dissent

Federal Reserve Bank of Chicago President Charles Evans said concerns about inflation were behind his vote against the central bank's rate increase this week, although he described the decision as a close one.

(END) Dow Jones Newswires

December 17, 2017 23:15 ET (04:15 GMT)