News Highlights: Top Global Markets News of the Day
U.S. Trade Gap Narrowed in August
The U.S. trade deficit narrowed in August, reflecting an increase in exports and a downtick in imports as Hurricane Harvey disrupted shipping along the Gulf Coast.
Randal Quarles, Trump's First Fed Nominee, Wins Senate Approval
The Senate approved Randal Quarles for a key banking oversight post on the Federal Reserve Board, marking President Donald Trump's first imprint on the central bank and his first full-time appointment of a banking regulator.
U.S. Stocks on Track to Extend Streak of Record Highs
The S&P 500 was on course for its longest streak of record closes in 20 years, led by shares of financial firms. The broad index added 0.4% after hitting its fifth straight high a day earlier.
New Federal Rule Clamps Down on Payday Loans
Payday lenders will have to assess whether borrowers are able to repay their loans, among other steps, under a rule unveiled Thursday that brings federal oversight to a $38.5 billion industry previously governed by states.
BOE's McCafferty: Bank Tweaked Guidance After Market Misread
Bank of England officials tweaked their communications in September because they felt their messages on interest rates were falling on deaf ears, one of the U.K. central bank's nine policy makers said.
ECB Discussed Options for Scaling Back QE at Last Meeting
European Central Bank officials discussed options for scaling down their giant bond-buying program at their September meeting, but were worried by the strengthening euro.
Fed's Williams Sees One More Rate Increase This Year, Three in 2018
San Francisco Fed President John Williams said he sees one further interest-rate increase this year and three more in 2018 as appropriate to keep the economic expansion on track and unemployment low.
U.S. Jobless Claims Fell Last Week
The number of Americans filing applications for new unemployment benefits fell in late September, though recent hurricanes continued to disrupt economic activity in several regions.