News Highlights: Top Global Markets News of the Day

Stocks Edge Higher as Choppy Week on Wall Street Comes to End

The Dow and S&P 500 ticked up as retail sales data beat expectations, capping a volatile week on Wall Street.

U.S. Budget Gap Tripled to Record $3.1 Trillion in Fiscal 2020

A surge of federal spending to combat the coronavirus and cushion the U.S. economy, coupled with a drop-off in federal revenues amid widespread shutdowns and layoffs, contributed to the widening deficit.

Fed's Williams: U.S. Economic Fundamentals Remain Good

Federal Reserve Bank of New York President John Williams said Friday that even with the continuing challenges of the coronavirus pandemic, he remains optimistic about the future of the U.S. economy.

Slowdown in Corporate Bond Issuance Could Boost Investment-Grade Debt

Markets this year have soaked up a record-breaking wave of new bond sales from companies looking to amass cash to get through the economic disruptions caused by the Covid-induced crisis.

Lack of Coronavirus Stimulus Deal Puts Pressure on Incumbents

The impasse between Congress and President Trump over another trillion-dollar-plus coronavirus relief package hasn't been good news for incumbents trying to show voters they can deliver for them in Washington.

Where Trump and Biden Stand on Financial Regulation

Joe Biden was vice president when Barack Obama signed the Dodd-Frank financial regulation act in 2010. In a second term, Trump would continue efforts to ease its restrictions. Biden would likely build on it.

Steel Bid Would Create Metals Giant in Europe

Britain-based Liberty Steel Group said it made an offer to buy Thyssenkrupp's steel business, a move that would create a new metals giant on the continent and mark the German conglomerate's exit from more than two centuries of steelmaking.

U.S. Oil-Rig Count Rises in Week

The number of rigs drilling for oil in the U.S. rose by 12 in the latest week to 205, according to oil-field services firm Baker Hughes.

U.S. Retail Spending Picked Up Strongly in September

American shoppers boosted their spending on vehicles, clothing and many other goods, a bright spot amid signs the economic recovery remains fragile.

U.S. Industrial Production Fell 0.6% in September

The Federal Reserve's reading on output at factories, mines and utilities remains 7.1% below where it was in February, before the pandemic hit.

  (END) Dow Jones Newswires
  10-16-20 1915ET
  Copyright (c) 2020 Dow Jones & Company, Inc.

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