News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Stocks Rebound as Energy Shares Surge

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Energy shares surged amid rising oil prices and optimism about corporate earnings, boosting major U.S. indexes to fresh records.

Tax Overhaul's New Withholding Calculations for Paychecks Are Released

The Treasury Department updated its rules for tax withholding from paychecks, changing calculations so most workers will start getting more take-home pay in February as a result of the recently passed tax law.

Bitcoin Plunges as South Korea Crafts Crypto Crackdown

Bitcoin prices tumbled as much as 13.7% Thursday, as a top official from South Korea said the government is preparing a bill to ban the trading of cryptocurrencies on exchanges.

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Economists Credit Trump as Tailwind for U.S. Growth

Economists surveyed by The Wall Street Journal say President Donald Trump has had generally positive effects on U.S. economic growth, hiring and the performance of the stock market during his first year in office.

WSJ Survey: Economists Expect Next Fed Rate Rise in March

Most economists polled by The Wall Street Journal expected the Federal Reserve will raise short-term interest rates in March and again in June.

Fed's Dudley Makes Case for Rate Rises, Warns of Overheating Risks

New York Fed President William Dudley said the case for rate rises this year remains robust amid risks the economy could overheat, and warned that the new tax law could boost the U.S. deficit over time.

Business-Level Inflation Falls Unexpectedly

U.S. producer prices fell in December for the first time in more than a year, a sign inflation pressures remain modest even though the economy appeared to pick up steam last year.

U.S. Jobless Claims Rose Last Week

The number of Americans filing applications for new unemployment benefits rose last week, but remains low, signaling a strong labor market that is likely to continue tightening in 2018.

U.S. Ran $23 Billion Budget Deficit in December, Treasury Says

The federal budget deficit for December narrowed from a year ago, amid flat government spending and higher tax receipts, the Treasury Department said.

ECB Minutes Signal Pivot on Stimulus, Sending Euro Higher

The European Central Bank indicated that it might move sooner than investors had expected to phase out its giant bond-buying program, sending the euro and eurozone government bond yields higher.

(END) Dow Jones Newswires

January 11, 2018 17:15 ET (22:15 GMT)