News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

U.S. Stocks on Track to Set New Records

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U.S. stocks climbed Friday, following a flurry of earnings reports from some of the country's biggest banks.

U.S. Retail Sales Increased 0.4% in December

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 Posted Modest Rise in December

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

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Merkel Edges Closer to Fourth Term as German Chancellor

Angela Merkel took a big step toward clinching a fourth term as Germany's chancellor on Friday after her conservative party and its center-left rivals agreed on the broad lines of a renewed ruling alliance.

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.

U.S. Business Inventories Rose 0.4% in November

U.S. business inventories rose 0.4% in November to a seasonally adjusted $1.895 trillion, the Commerce Department said. Economists surveyed had expected the 0.4% gain from the prior month. It was the largest one-month gain since August.

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.

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.

Steven Mnuchin Unsure if Bill Needed to Shore Up Tax Law

Treasury Secretary Mnuchin said it isn't clear whether Congress will need to take up a bill to make technical corrections to the sweeping new tax law that took effect this month.

(END) Dow Jones Newswires

January 12, 2018 11:15 ET (16:15 GMT)