News Highlights: Top Global Markets News of the Day

05/17/19 07:15 PM EDT
Stocks Lose Steam, Close Lower for the Week 

U.S. shares' rally fell short in the final hour as concerns over trade negotiations between Washington and Beijing persisted.

U.S. Reaches Deal With Canada, Mexico to End Steel and Aluminum Tariffs 

The administration has reached agreements with Canada and Mexico that end U.S.-imposed tariffs on steel and aluminum imports, President Trump said Friday, removing a major barrier to the three countries' new trade pact.

White House Delays Decision on Auto Tariffs for 180 Days 

The Trump administration said it would put off for 180 days a decision on whether to impose broad tariffs on auto and auto-part imports, as discussions with the EU and Japan continue.

Canada's Poloz Suggests Jobs Data Reflect Economy's Strength 

Last week's record-setting Canadian employment figures for April are likely providing a more accurate portrait of underlying strength in the country's economy, Bank of Canada Governor Stephen Poloz said.

High-Speed Traders Agree to Back New Stock Exchange 

Some large high-speed trading firms are teaming up with options-exchange operator Miami International Holdings to create next year what could be the 15th U.S. stock exchange.

U.S. Oil Rig Count Falls to One-Year Low 

The number of rigs drilling for oil in the U.S. fell by three in the past week to 802, its lowest level since March 2018, according to oil-field services company Baker Hughes.

OPEC to Consider Easing Oil Cuts Amid Middle East Tensions 

OPEC and its allies are set to debate a potential increase in crude output at a meeting on Sunday, as they attempt to balance global oil supply amid regional tensions the Persian Gulf hasn't seen in over a decade.

Hopes of Brexit Breakthrough Dashed as Bipartisan Talks Collapse 

The U.K.'s main opposition Labour Party pulled the plug on Brexit talks with the government, scotching hopes for a bipartisan solution to break the logjam in Parliament over the terms of Britain's withdrawal from the European Union.

U.S. Consumer Sentiment Hits Highest Level in 15 Years 

U.S. household sentiment rose starkly at the beginning of May to its highest level in a decade and a half, driven by a brighter economic outlook.

Talking Markets: Politics Stir Italy's Bond Market Again 

Renewed pressure on Italian government bonds this week has given investors a fresh taste of what can happen when politicians raise the prospect of an even higher budget deficit, recalling concerns about Italy's debt sustainability.


(END) Dow Jones Newswires

May 17, 2019 19:15 ET (23:15 GMT)

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