News Highlights : Top Global Markets News of the Day – Friday at 5 PM ET

U.S. consumer sentiment sours in May 
 

The University of Michigan’s gauge of consumer sentiment fell to 67.4 in a preliminary May reading, down from 77.2 in the prior month.

 
Inflation Will Keep Dropping in 2024, Chicago Fed's Goolsbee Says 
 

The central banker is forecasting a ‘soft landing’ for the U.S. economy. His comments echo those of colleagues on the Fed, but with an extra dose of optimism.

 
Stocks Log Weekly Gains in Hot Start to May 
 

The month’s performance so far marks a reversal from April.

 
Bar is high for another rate hike, but one can't be ruled out: Fed's Kashkari 
 

The bar for another Federal Reserve rate hike is high, but further tightening can’t be ruled out, Minneapolis Federal Reserve Bank President Neel Kashkari said Friday.

 
Biden to Quadruple Tariffs on Chinese EVs 
 

The administration is preparing to announce higher levies on a range of clean-energy goods made in China next week.

 
U.S. budget deficit shrinks in first 7 months of fiscal year 
 

The federal budget deficit shrank in the first seven months of the fiscal year, according to the Treasury Department, but this full year’s shortfall is likely to exceed last year’s.

 
Jump in Canadian Employment Threatens to Delay First Rate Cut 
 

The data suggests that the Bank of Canada has room to wait a little longer to initiate long-awaited rate cuts that many expected could come at the central bank’s next policy meeting in June, economists say.

 
Beijing's 'Digest' Plan Signals Shift in China's Housing Crisis 
 

Beijing’s newfound focus on a housing glut marks a sea change in how senior officials view China’s festering property crisis, setting the stage for rescue efforts that could range from unprecedented easing for home buyers to billions in state spending to buy up unsold projects.

 
U.K. Returns to Growth as War Shock Fades 
 

The U.K.’s gross domestic product rose 0.6% in the first quarter, a sign that the country is beginning to recover from the damage caused by Russia’s invasion of Ukraine.

 
Japan's Stock Market Is Booming. It Isn't All About the Weak Yen. 
 

Although some prominent companies such as Toyota are benefiting from a weaker Japanese currency, the broad impact is mixed.

(END) Dow Jones Newswires

05-10-24 1715ET