News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

With Stocks Surging, Americans Are Saving at 12-Year Low

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Soaring stock prices and improving job prospects have set Americans off on an optimistic spending splurge that is drawing down how much they sock away for retirement and rainy days.

U.S. Stocks Slide, Weighed Down by Real Estate, Utilities

U.S. stock indexes retreated from record highs Monday, weighed down by falling utilities and real-estate shares.

The Highest-Yielding Treasury Bond Isn't Declining Like Its Peers

A recent climb in the yield on the benchmark 10-year U.S. Treasury note-it passed 2.70% Monday for the first time since April 2014-has prompted some investors to declare an end to a more-than-three-decade bull market in bonds. But the longest-dated Treasurys suggest otherwise.

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Justice Department Charges Eight Traders With Deceptive Futures Market Trading

Federal prosecutors charged eight traders with deceptive trading practices in the futures markets, and the CFTC announced related civil charges against three banks and six individuals, in the most significant action taken against banks for spoofing since last January.

China's Xi Looks to Ally to Fix U.S. Relations

China's President Xi Jinping is turning to a trusted political ally who ran his potent anticorruption campaign to help manage the critical but fraught relationship with the U.S. as trade tensions escalate, according to officials familiar with the leadership's thinking.

Oil Prices Fall After U.S. Rig Count Rises

Crude prices fell on Monday, weighed down by an increase in the number of rigs drilling for oil in the U.S. and a stronger dollar.

FCC Chairman Opposes Government Takeover of 5G Wireless Build-Out

Federal Communications Commission Chairman Ajit Pai said Monday he opposes a government takeover of the next-generation 5G wireless system, casting further doubt on an idea that has been floated by some Trump administration officials.

ECB's Praet Calls for 'Patience and Persistence'

The European Central Bank is still some way from meeting its inflation target and must be patient, the ECB's chief economist said, pushing back against calls to phase out the bank's $3.11 billion bond-buying program soon.

U.S. Companies Brace for Wider Oversight of Chinese Deals

Lawmakers are moving to stanch the flow of U.S. technology to foreign investors, creating potential problems for a number of American companies that have bet big on partnering with China.

Japan's Cryptocurrency Whiz Kid Faces $530 Million Reckoning

Coincheck founder Koichiro Wada wanted to make a splash in Japan's stodgy financial world. But engineers said he and his company put expansion ahead of security.

(END) Dow Jones Newswires

January 29, 2018 17:15 ET (22:15 GMT)