News Highlights: Top Global Markets News of the Day
DOW JONES & COMPANY, INC. 1:15 PM ET 5/22/2017
U.S. Stocks Climb as Arms Deals Buoy Defense Contractors
Gains in industrial shares lifted U.S. stocks, with news of more than $100 billion in arms deals with Saudi Arabia boosting defense contractors. The S&P 500 gained 0.3%.
Fed's Kaplan Continues to See Two More Rate Rises This Year
Dallas Fed President Robert Kaplan said in an essay he is still on board with the U.S. central bank raising short-term interest rates around two more times this year.
Fed's Kashkari Stresses Monetary Policy Can't Fix Economic Disparities
Minneapolis Fed President Neel Kashkari said it is wrong to think central-bank interest-rate policy can solve all the economy's problems.
OPEC's Foil: It Can't Drain Enough Stored Oil
OPEC is likely to extend and perhaps even deepen its production cuts on Thursday for one main reason: It has failed to drain superhigh levels of oil in storage enough to raise prices significantly.
Oil Hits Highest Level in More Than a Month Ahead of OPEC Meeting
Oil prices rose to a fresh one-month high Monday with traders expecting this week's OPEC meeting to end with an extension or even deepening of the group's recent production cuts.
Only Robots Can Tally What the Largest U.S. Pension Fund Pays in Fees
The nation's largest pension plan has 380 people overseeing $320 billion in assets. But when one of its top officials was asked during a board meeting how much in performance fees was paid to private-equity managers, he had to acknowledge no one knew.
Mexico's Economy Posts Steady Growth
Mexico's economy maintained a steady pace of growth in the first quarter, expanding for a 15th consecutive period as services continued to compensate for a sluggish industrial sector.
Iraq, Saudi Arabia in Last-Minute Summit to Salvage OPEC Cuts Extension
Iraq has become a potential obstacle to OPEC's efforts to continue cutting output into next year, representatives of the cartel said, prompting Saudi Arabia's energy minister to fly to Baghdad for meetings.
Chicago Fed National Activity Index Rises in April
Economic activity across the U.S. rose in April, according to a report published Monday.
President Trump is releasing his fiscal 2018 budget on Tuesday, the beginning of what could be a challenging, lengthy battle in Congress.
(END) Dow Jones Newswires
05-22-171315ET
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