News Highlights: Top Global Markets News of the Day

S&P 500 Hits Record as Mixed Economic Data Lift Stocks

U.S. stocks edged higher after data showed another leap in consumer prices and a continuing recovery in the labor market as the economy emerges from the Covid-19 pandemic.

Bipartisan Group of Senators Reaches Agreement on Infrastructure Proposal

The group is pitching the plan, to be paid for without tax increases, to other lawmakers and the White House as they try to craft a compromise on the issue.

U.S. Lifts Some Iran Sanctions Amid Stalled Nuclear Talks

U.S. officials say the action, which comes amid stalled nuclear negotiations, signals Washington's commitment to easing a broader pressure campaign if Tehran changes its behavior.

Bitcoin, Other Crypto Assets Targeted for Stiff Banking Regulation

The top global standard setter for banking regulation proposed a strict new rule that would require banks to essentially set aside a dollar in reserves for every dollar of bitcoin they own.

Chinese Police Arrest 1,100 People for Crypto Money Laundering

The crackdown on illegal activities comes amid an effort by Chinese authorities to restrain cryptocurrency trading and mining. It follows broader efforts to guard against financial risk and reduce energy consumption in the country.

China Passes Law to Counter Foreign Sanctions

Beijing sets mechanisms to retaliate against Western pressure and mitigate sanctions' impact after an expedited process without public consultation.

Accelerating Oil Demand Will Shrink Global Glut, OPEC Says

The rebound in global oil demand is set to accelerate in the second half of 2021 as the world continues to burn through the supply glut it accrued last year, the Organization of the Petroleum Exporting Countries said.

U.S. Budget Deficit Grew to $2.1 Trillion in First Eight Months of Fiscal Year

Federal spending continued to outpace tax receipts that are rising as the economy recovers from the damage inflicted by the Covid-19 pandemic.

Stepping Through Inflation's Looking Glass

It is easy to see where inflation is. Where it is going, not so much.

Which Higher Prices Are Here to Stay?

Prices are surging for many household expenses as the pandemic eases and the economy reopens, but some increases may just be a return to normal.


  (END) Dow Jones Newswires
  06-10-21 2315ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.