News Highlights: Top Global Markets News of the Day

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Oil Prices Rise to Two-Year Highs

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Oil prices rose to fresh two-year highs Tuesday following an explosion on a pipeline that carries oil to Libya's largest oil port.

Home Prices Jump in October

Home prices continued to rise in October as demand increased for homes but tight inventories nationwide limited supply.

U.S. Stocks Little Changed

U.S. stocks wobbled in their first day of trading since the Christmas holiday.

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Richmond Fed Says Manufacturing Activity Slowed In December

The Federal Reserve Bank of Richmond said Tuesday that an index tracking manufacturing activity at factories across the central Atlantic states decreased in December as shipments and new orders slowed.

Can Central Banks Keep Control of Interest Rates?

Investors are elated by a booming global economy and the promise of central banks to tighten monetary policy only gradually. But a question haunts them: Will interest rates develop a mind of their own?

Texas Manufacturing Activity Rises

Manufacturing activity across Texas rose at a strong clip in December, reaching its highest level in over a decade, according to a Federal Reserve Bank of Dallas report released Tuesday.

Tax Law Could Slow Down a Bank Favorite: Jumbo Mortgages

The tax overhaul eliminates some benefits of homeownership, particularly for high-end homes. And the borrowers who buy those homes are exactly whom banks have been targeting.

Investors Diving Into Risky Bank Bonds

Cocos are hot again. The junior bonds that are designed to help shore-up banks during a crisis are ending 2017 with yields near record lows but they can become risky in sudden and unexpected ways.

Bank of Mexico Sells Additional Dollar Hedges to Support Peso

The Bank of Mexico auctioned $500 million in dollar hedging contracts, expanding its existing program from the current $5 billion in response to recent volatility that had sent the peso to a nine-month low against the U.S. dollar.

Exempting Small Banks From Volcker Rule Is Popular, but Not With Their Regulator

A Senate proposal to exempt thousands of small U.S. banks from the Volcker rule restrictions on speculative trading is winning broad support-except from the regulator that oversees most of those banks.

(END) Dow Jones Newswires

December 26, 2017 15:15 ET (20:15 GMT)