NEW YORK (Reuters) - The Federal Reserve's hawkish shift is forcing investors to reevaluate the rally in so-called value stocks, which have taken a hit in recent days after ripping higher for most of the year.

(Reuters) - Minneapolis Federal Reserve President Neel Kashkari said on Friday he wants to keep the U.S. central bank's benchmark short-term interest rate near zero at least through the end of 2023 to allow the labor market to return to its pre-pandemic strength.

LONDON (Reuters) - OPEC officials heard from industry experts that U.S. oil output growth will likely remain limited in 2021 despite rising prices, OPEC sources said, giving it more power to manage the market in the short term before a potentially strong rise in shale output in 2022.

(Reuters) - The coming reduction in the Federal Reserve's bond purchases may bear little resemblance to the "automatic pilot" tapering exercise the U.S. central bank conducted seven years ago, as officials grapple with volatile data - on inflation in particular - during the rebound from the COVID-19 pandemic, a Fed official said on Friday.

(Reuters) - A near-record dollar amount of single stock equity options -totaling $818 billion - is set to expire at the close of trading on Friday afternoon, potentially driving sharp moves in some stocks throughout the day, Goldman Sachs analysts wrote.

MELBOURNE (Reuters) -The Australian government said on Saturday it was lodging a formal complaint with the World Trade Organization over China's imposition of anti-dumping duties on Australian wine exports, escalating further the trade standoff with Beijing.

(Reuters) - Investment flows into global equity funds jumped to the highest in three weeks in the week ended June 16, as investors shrugged off inflation worries and focused on the improving global economic outlook.

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MEXICO CITY (Reuters) -Mexico's President Andres Manuel Lopez Obrador said on Friday he expects that by the third quarter the Mexican economy will reach pre-pandemic levels, after gross domestic product contracted by some 8.5% last year driven by pandemic-related fallout.