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. 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.

Weidmann to Push for Steady Reduction of ECB Stimulus

German central bank chief Jens Weidmann said he will continue to push for a steady reduction of the European Central Bank's stimulus as the eurozone's inflation rate picks up.

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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.

Fed Fines 5 Big Banks $35 Million for Foreclosure, Mortgage-Servicing Issues

The Federal Reserve fined five big banks $35.1 million for issues related to financial-crisis-era mortgage servicing and foreclosures, while also moving them out of the penalty box for what it said was a "substantial improvement" in their practices.

Senate Panel Sets Date for Hearing on Trump FDIC Pick

The Senate Banking Committee is expected to meet Jan. 23 to consider the nomination of Jelena McWilliams to lead the Federal Deposit Insurance Corp., according to a person familiar with the matter.

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.

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.

U.S. Cites 'Notorious Markets' in China, Russia for Suspect Goods

The Trump administration targeted markets in Russia, China and other countries for allegedly turning a blind eye to the sale of counterfeit goods and other intellectual-property violations.

Oil Edges Off Three-Year High on Iran Sanctions Relief Extension

Oil prices slipped off a three-year high Friday after reports that President Trump has decided to extend sanctions relief to Iran.

(END) Dow Jones Newswires

January 12, 2018 13:15 ET (18:15 GMT)