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DJ News Highlights: Top Global Markets News of the Day

· 02/08/2021 01:00
Biden Doesn't Expect $15 Minimum Wage to Be in Final Covid-Relief BillU.S. Added 49,000 Jobs in JanuaryS&P 500 Closes Best Week Since Early NovemberGameStop Frenzy Is Tough Call for RegulatorsMusk's Dogecoin Tweeting Has Believers Barking for MoreChina's Economy Isn't Out of the Woods, Despite a Strong 2020Covid-19's Hit to State, Local Revenues Smaller Than Many FearedTightening Oil Supplies Inject New Momentum Into Price RallyEconomy Week Ahead: Inflation, Unemployment and GDPSenate Democrats See Short Trump Trial Amid Covid-19 Stimulus Push

Key details of former President Donald Trump's impeachment trial and the Biden administration's $1.9-trillion relief bill are still being completed.

In addition to this week's economic calendar, Capitol Hill will be closely monitored for the latest on U.S. fiscal policy.

A booming rally in oil markets has pushed crude prices to their highest levels since near the start of the pandemic, powered by production curbs and recovering demand.

The coronavirus pandemic hasn't decimated state and local government revenues, as many feared early last year. But costs are rising, opening budget holes that must be filled.

The economic-growth outlook for China remains fragile, with a tepid job market and lagging consumer confidence weighing on hopes for sustained growth in 2021.

A cryptocurrency that began in 2013 as a joke is suddenly worth a total of more than $6 billion.

A core principle of market regulation is transparency-give investors information and let them decide. The GameStop drama was nothing if not transparent.

U.S. stocks edged higher, giving the S&P 500 a 4.6% rise for the week as investors anticipated fresh stimulus spending and the labor market's recovery.

The small gain returned growth to the labor market after a one-month dip. The unemployment rate fell to 6.3%.

Democrats are moving forward without Republican support for the $1.9 trillion package.

(END) Dow Jones Newswires

February 08, 2021 01:00 ET (06:00 GMT)

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