News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Retail Sales Increased 0.4% in December

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Spending at U.S. retailers rose in December for the fourth consecutive month, capping the strongest year for sales growth since 2014.

U.S. Consumer Prices Rose 0.1% in December

U.S. consumer prices rose in December, a sign that inflation ended the year on a somewhat stronger note.

China Reports Biggest-Ever Annual Trade Surplus With U.S.

China reported its largest-ever annual trade surplus with the U.S. last year while its overall imbalance with the world shrank, potentially strengthening the Trump administration's case for tougher penalties and other trade actions against Beijing.

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Eurozone Grew More Rapidly Than Expected in Third Quarter

The eurozone economy grew more rapidly in the three months through September than previously estimated, putting it firmly on track for its best year since 2007, before the onset of the global financial crisis.

Stocks on Track to Set New Records

Global stocks powered ahead toward fresh records on Wall Street as big banks started to report fourth-quarter earnings, which were impacted in different ways by the new tax laws.

T. Boone Pickens Calls It Quits on Energy Trading

The Oklahoma oilman and investment manager is closing the energy-focused hedge fund he has run for the last two decades after struggles with his health and returns, saying trading no longer intrigues him as it once did.

A Place Where Stocks Still Have Reason to Rally

The breadth of the global economic growth pickup is lifting even longstanding laggards. European stocks are a case in point-but the potential for catch-up remains appealing.

U.S. to Extend Sanctions Relief to Iran, Keeping Nuclear Deal in Place-For Now

President Trump has decided to extend sanctions relief to Iran and keep the nuclear agreement intact for at least another several months. He is expected to couple his decision with new sanctions not technically related to the deal, including some aimed at human-rights abuses.

Oil Edges Off Three-Year High as China Imports Slow

Oil prices slipped off a three-year high after China reported a fall in monthly crude imports.

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.

(END) Dow Jones Newswires

January 12, 2018 09:15 ET (14:15 GMT)