News Highlights: Top Global Markets News of the Day - Wednesday at 3 PM ET
Dow Industrials Lead U.S. Stocks Lower
U.S stocks turned weaker, erasing some recent gains in the absence of any major new catalyst to keep driving them higher.
New-home sales retreat after big jump in prior month
New-home sales fell in August, but still beat estimates.
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.
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.
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.
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.
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 15:15 ET (19:15 GMT)
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