News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Stocks Extend New Year Rally

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World equity markets edged up as confidence in the New Year rally showed few signs of abating, thanks to the strong global economic outlook.

$55 Billion Profit for Giant Asset Manager-the Swiss Central Bank

Switzerland's central bank said it expects to make a record profit of $55.2 billion in 2017, citing higher global equity and bond prices as well as a weaker Swiss franc.

German Industrial Output Tops Expectations

The latest industrial output data suggest that Germany's economy may have performed even better than expected in the recently completed year, and will continue on a strong growth path in the current year, analysts say.

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U.S. Consumer Credit Posts Largest Gain in 16 Years

Outstanding consumer credit rose by $27.95 billion in November from the prior month, the biggest increase since November 2001, according to new data from the Federal Reserve.

The Business Cycle Is Different This Time-Thank China

The business cycle hasn't evaporated-it's just at different points in the world's two largest economies. That explains the mixed signals on global growth which are befuddling investors.

Australian Building Approvals Jump

New home building approvals in Australia recorded their biggest monthly jump in a year in November, led by a massive rise in permits for apartments in Victoria.

Federal Regulators Rule Against Trump Administration on Power Plants

Federal energy regulators Monday rejected a Trump administration proposal aimed at shoring up struggling coal-fired and nuclear power plants.

Fed Officials Encourage Reassessment of Inflation Target

Two Federal Reserve officials said the central bank should consider changes in its inflation-targeting framework to create more ammunition to respond to future downturns.

Fed's Bostic Raises Concerns About Inflation Expectations

Atlanta Fed President Raphael Bostic said the possibility that the public isn't convinced inflation will rise much "might argue for being somewhat more patient in raising rates, even as the inflation rate moves toward" the central bank's 2% annual target.

Bill Aims to Make Companies File for Bankruptcy Closer to Home

Senate lawmakers have introduced a bill that would force struggling companies to file for bankruptcy protection in a courtroom close to their headquarters, closing a controversial loophole that has enabled the country's biggest restructurings to unfold in New York and Delaware.

(END) Dow Jones Newswires

January 09, 2018 05:15 ET (10:15 GMT)