News Highlights: Top Global Markets News of the Day

Powell Says Rise in Bond Yields Reflects Optimism About Economy

Federal Reserve Chairman Jerome Powell says he's not concerned about the recent increase in long-term bond yields, calling it "an orderly process."

Stocks End Lower Amid Decline in Tech Shares

Tech stocks and smaller companies gave up early gains as the S&P and Nasdaq ended lower amid more testimony from Jerome Powell and Janet Yellen.

Fed's Williams Upbeat on Outlook, Offers No Clues on Rate Rise Timing

"I don't know when we will take a policy action because it will be driven by what happens in the economy," New York Fed President John Williams said.

Democrats Weigh Increases in Corporate, Personal Income-Tax Rates

As President Biden prepares to pitch his infrastructure, climate and education agenda, Democrats are considering possible tax increases alongside the effort, including boosting the corporate tax rate and the top marginal income-tax rate on individuals.

Ship Stuck in Suez Canal Heightens Pressure on Global Supply Chain

The blockage of the Suez Canal by a grounded container ship will likely add delays and extra costs to an already pressured logistics industry, say executives, punctuating the tightness of the world's supply lines.

Debt Investors Await More Details on Biden's Infrastructure Plan

Yields have paused in recent sessions even after reports that Biden administration officials are crafting a plan for a multipart infrastructure and economic package that could cost as much as $3 trillion.

Leap in Gas Prices Puts $3 a Gallon in Sight

The prospect of summer drivers crowding U.S. highways is powering steep gains in the price of gasoline, a sign of economic recovery and a boon for the pandemic-ravaged energy industry.

Hot U.S. Economy, Supply Disruptions Pressure World's Factories

As resurgent economies and a burst in demand for consumer goods heap pressure on strained supply chains, a series of acute disruptions-including this week's blockage of the Suez Canal-are set to worsen shortages and further push up prices.

U.S. Durable-Goods Orders Drop for First Time Since Last Spring

Orders for long-lasting manufactured goods fell 1.1% in February as U.S. factories faced supply-chain challenges.

U.S. Oil Inventories Rise Unexpectedly in Latest Week

U.S. inventories of crude oil rose last week even as refinery activity increased sharply, government data showed. Crude-oil stockpiles increased by 1.9 million barrels, contrary to analysts' forecasts for a small decline.

  (END) Dow Jones Newswires
  03-24-21 2115ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

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