News Highlights: Top Global Markets News of the Day
U.S. Stocks Little Changed Despite Sharp Drop in Chinese Shares
Stocks were little changed at the start of the week as investors largely brushed off a steep decline in Chinese equities. The S&P 500 fell less than 0.1%.
Oil Edges Up in Volatile Trade
Crude futures advanced Monday morning in volatile trade, amid ongoing concerns that stockpiles will prove resilient to production cuts led by the global oil cartel
China Blocks Big Banks From Lending to Dalian Wanda
The Chinese government is putting the brakes on Dalian Wanda's overseas acquisitions, clouding the company's ambitions to become a global entertainment powerhouse.
Empire State Manufacturing Survey Shows Slower Growth in July
Conditions in the New York manufacturing sector rose at a slower pace in July, reflecting a decline in new orders and shipments, according to a report from the Federal Reserve Bank of New York.
Chinese Firm Launches Bid to Make Credit Ratings More Transparent
China's Dagong Global aims to boost transparency in the country's often-murky world of corporate credit ratings, with plans for a digital credit-rating platform that requires companies to submit financial information daily.
Canada Housing Sales Decline Steeply in June
A cool-down in Canadian housing now appears well under way, with last week's rate rise from the Bank of Canada expected to prolong the slowing trend.
China Maintains 6.9% Economic Growth as Beijing Walks Tightrope
The economy steamed along in the second quarter, beating forecasts and matching the growth rate in the first, as Beijing balances growth objectives against the need to rein in excessive credit and an overheating property market.
Xi Jinping's Comments Spook Chinese Stock Markets
China's top officials signaled over the weekend that the country's campaign against runaway debt and speculation remains a priority-spooking domestic equity markets on Monday and prompting a massive injection of liquidity by the central bank.
PBOC Net Foreign-Exchange Sales Rose in June
The Chinese central bank sold a net $5.06 billion of foreign currency in June, according to calculations made by The Wall Street Journal based on People's Bank of China data.
The Vanishing Reward for Buying High-Yield Bonds
A closer look at high-yield bonds shows the reward on offer isn't quite what it seems.