News Highlights: Top Global Markets News of the Day - Wednesday at 3 PM ET

European Stock Markets Slip, Asia Gains Amid Fed Rate-Cut Hopes. Treasury Yields Suffer. 
 

Optimism about interest rates coming down extends beyond the U.S., where markets are closed for the Juneteenth holiday.

 
U.K. Inflation Falls to Bank of England's 2% Target 
 

U.K. inflation declined in May, increasing the likelihood the Bank of England will lower its key interest rate in the coming months, although the core and services prints remained elevated.

 
EU Recommends Disciplinary Action Against France for Excessive Deficit 
 

The Commission, which polices the European Union's budget rules, also backed action against Italy, Belgium, Poland, Hungary, Slovakia and Malta for the same offense.

 
India Beats China in Stock Performance 
 

India's stock market has boomed while China's has slumped, and their wide valuation gap seems justified.

 
China to Step Up Supervision of Nasdaq-Style Star Market 
 

China's securities regulator plans to step up oversight on companies listed on the Star Market, as part of reform measures to contain market volatility.

 
Bond Trading by China's PBOC Wouldn't Be Quantitative Easing, Gov. Says 
 

Trading in bonds by China's central bank wouldn't be a form of massive monetary easing, according to its governor, as he responded to speculation that Beijing is eyeing the unconventional policy tool to prop up the economy.

 
Bitcoin Price Steadies After Selloff. The Crypto Faces Pressure Amid ETF Outflows. 
 

The change of direction at exchange-traded funds and miners being forced to sell tokens are weighing on the market.

 
Regional Banks Want to Slim Down. Hedge Funds Smell a Bargain. 
 

After a wave of failures, the lenders are paying the fund managers to share their risk.

 
Fed's Barkin: More data is needed before any changes are made to interest rates 
 

Richmond Federal Reserve Bank President Tom Barkin on Tuesday described the outlook for the U.S. economy as uncertain and said the Fed should keep its benchmark rate steady until a clearer picture emerges of the path of inflation and the labor market.

 
U.S. industrial production sees largest increase in 10 months in May 
 

U.S. Industrial production rose 0.9% in May, the Federal Reserve reported Tuesday. That is the biggest gain since last July.

(END) Dow Jones Newswires

June 19, 2024 15:15 ET (19:15 GMT)

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