News Highlights: Top Global Markets News of the Day

01/03/18 11:15 AM EST
Tech Stocks Lift Nasdaq, S&P 500 to New Heights 

Technology firms led major U.S. stock indexes higher Wednesday, a day after the Nasdaq Composite closed above 7,000 for the first time.

Fed Minutes to Shed Light on Officials' Outlook for 2018 

The Federal Reserve on Wednesday will offer more details on policy makers' outlook for 2018 when it releases the minutes of its Dec. 12-13 meeting.

U.S. Factory Activity Gained Momentum in December 

The U.S. factory sector gained momentum in December, with sales and production rising quickly, suggesting underlying strength in the economy.

U.S. Construction Spending Rose in November 

Total U.S. construction spending rose 0.8% in November from October to a seasonally adjusted annual rate of $1.257 trillion, the Commerce Department said. Economists surveyed expected a 0.5% increase in November.

Big Oil Investors Rethink Their Bets 

Some big investors and banks are rethinking investments in an oil and gas industry wrestling with uncertain oil demand, government regulation and disruptive technology like electric vehicles.

ISM-New York Index Falls in Last Month of the Year 

The New York chapter of the Institute for Supply Management said its current business conditions index fell to 56.3 in December, down from 58.1 in November.

Never Mind the Defaults, Venezuela Has Made Many Bondholders Rich 

Venezuela's bonds have lost about three-quarters of their value, reflecting a dozen missed payments by the government and the state-owned oil company. But a number of bond investors have made their money back and more.

Iran Unrest Continues to Buoy Crude Prices 

Oil prices ticked up on the back of ongoing antigovernment protests in Iran.

As 'Mifid' Regulations Roll Out, Bond Volumes Fall 

Trading in some bonds fell sharply in Europe as banks implemented the massive set of new finance regulations known as Mifid II.

The New Floor for Bond Underwriting Fees: $1 

Fierce competition to underwrite debt offerings in Asia's booming U.S.-dollar bond market is forcing some big global banks to work on deals for next to nothing.


(END) Dow Jones Newswires

January 03, 2018 11:15 ET (16:15 GMT)

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