News Highlights: Top Global Markets News of the Day - Wednesday at 1 PM ET

China's Central Bank Adds to Easing Blitz With Another Rate Cut 
 

The People's Bank of China delivered another policy rate cut, a day after announcing a slew of monetary easing measures to aid the economy amid concerns that Beijing's annual growth target is increasingly out of reach.

 
New-home sales retreat after big jump in prior month 
 

New-home sales fell in August, but still beat estimates.

 
World Economy on Track for Slight Pickup as Inflation Is Tamed 
 

Falling interest rates and recovering real wages will help drive a slight pickup in global economic growth this year and next, while recent falls in oil prices could aid the final push to tame inflation, the OECD said.

 
U.S. Crude Oil Stockpiles Fall More Than Expected 
 

Gasoline and distillate stocks also declined as refineries reduced their capacity use.

 
Sweden's Central Bank Cuts Key Rate; Sees Two More Cuts This Year 
 

The Riksbank cut its key interest rate for the third time this year and said borrowing costs will likely be lowered again soon as a faltering economy threatens to push inflation further below its target.

 
The High-Stakes Spat Over How Much Oil the World Really Needs 
 

OPEC is sticking with its estimate that the world will need an extra two million barrels a day this year, despite signs this is unrealistic.

 
Nasdaq Futures Fall While Chinese Shares Rally Again 
 

U.S. stocks posted small moves. The blue-chip Dow fell, while the tech-heavy Nasdaq Composite ticked slightly higher and the S&P 500 hovered around the flat line.

 
Israel Prepares Possible Lebanon Invasion as Hezbollah Fires Missile at Tel Aviv 
 

Israel intercepted the missile fired at the headquarters of its Mossad spy agency, as Israel's military chief told troops that airstrikes against the Hezbollah militant group were in preparation for a potential ground invasion of Lebanon.

 
China Urges U.S. to Drop Proposed Ban on Chinese Car Components 
 

China's commerce ministry has urged the U.S. to drop proposed restrictions on Chinese auto software and hardware, saying it will take the "necessary measures" to protect national companies.

 
Australia's Headline Inflation Rate Falls Back to Target 
 

Headline inflation rate fell to within the Reserve Bank of Australia's target band for the first time since 2021 in August, but economists warn that this won't trigger an immediate rate cut.

(END) Dow Jones Newswires

September 25, 2024 13:15 ET (17:15 GMT)

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