News Highlights: Top Global Markets News of the Day - Friday at 7 PM ET

Stocks Rally on Hopes for More Rate Cuts

Friday's gains help, but don't reverse, weekly declines by major indexes; Nike says it expects lower sales and margins this fiscal quarter.

House Approves Revised Plan to Avert Government Shutdown

The proposal extends federal funding into March and provides disaster aid, but leaves out the debt-ceiling increase demanded by Trump.

PCE Inflation Lighter Than Expected in November

The Federal Reserve's favored measure of inflation showed prices increased 0.1% in November and 2.4% over the past 12 months, the Commerce Department said Friday.

Currency Tailspin Forces Brazil's Leader to Do the Unthinkable: Cut Spending

Brazil's currency plunged to its lowest level in 30 years after breakneck spending on pensions and social services.

FDIC Suspends Bonuses for Senior Officials Under Investigation for Misconduct

The move follows an earlier Wall Street Journal investigation that revealed a toxic and sexualized workplace culture at the bank regulator.

Cocoa Prices Tripled in 2024. Climate Change May Keep Them High

Unprecedented extreme weather boosted prices of cocoa, coffee and orange juice to new records in 2024 - and they're showing signs of going even higher in 2025.

Consumer Confidence Climbs Driven by Republican Sentiment

Consumer confidence in the U.S. jumped this month, matching economists' expectations, as buying conditions improved, though with enduring differences down party lines.

Canada's Trudeau Is Losing Grip on Power as Allies Turn Against Him

The prime minister is facing a storm of criticism over his policies and unpopularity.

Cleveland Fed's Hammack Says Dissent Was 'Close Call' but Policy Should Stay Restrictive

Cleveland Fed President Beth Hammack said that her vote in favor of skipping a rate cut at the central bank's meeting this week was based on her view that monetary policy needs to stay restrictive to control inflation.

Trump Warns Europe to Buy More U.S. Oil and Gas or Face Tariffs

The president-elect's threat to impose tariffs on European imports could frame early discussions between European leaders and his administration.