News Highlights: Top Global Markets News of the Day - Thursday at 1 AM ET

Stocks Swing Higher After Post-CPI Slump 
 

Stocks reversed an early decline and ended the day near session highs, rebounding from a slide that followed a slightly hotter-than-expected reading on inflation.

 
European Central Bank to cut interest rates again as inflation and economy cools 
 

The ECB is expected to trim borrowing costs as its focus shifts from damping inflation to supporting the bloc's faltering economy.

 
Hawkish BOJ Board Member Says Rates Should Be Raised to at Least 1% 
 

Bank of Japan policy board member Naoki Tamura said the central bank should raise interest rates to around 1% in the near future, fueling expectations of several rate increases.

 
Slide in Iron Ore Prices a Hiccup for Miners Amid Copper Scramble 
 

The price of iron ore has dropped to its lowest in nearly two years, a drain on profits for some of the world's biggest miners.

 
Western Firms That Flocked to China Are Now Pulling Back 
 

As China's growth slows and the difficulty of doing business there rises, Western companies have stopped plowing money into the country.

 
Private Markets Seem Out of Reach for Individual Investors. BlackRock Thinks It Has an Answer. 
 

The asset manager is teaming up with Partners Group to offer wealthy investors a preset portfolio.

 
Wall Street Curbs Young Bankers' Hours After Overwork Outcry 
 

JPMorgan adds 80-hour weekly cap and Bank of America revamps timekeeping after a Wall Street Journal investigation highlighted investment banking's work-obsessed culture.

 
Inflation Extends Cooling Streak to Hit 2.5% in August 
 

Inflation eased to new three-year lows, teeing up the Fed to begin gradually reducing interest rates at a meeting next week.

 
Trade 'Loophole' Used by China Should Be Closed, House Democrats Tell Biden 
 

House Democrats called on President Biden to end the so-called de minimis U.S. trade provision that has been boon for China's e-commerce companies.

 
PPI Data Should Keep a Smaller Fed Rate Cut In Play 
 

Economists are forecasting a 1.8% annual increase in the producer price index in August, versus 2.2% in July.

(END) Dow Jones Newswires

September 12, 2024 01:15 ET (05:15 GMT)

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