Financial Markets and Economy
Yellen Caution Lifts Global Stocks (Wall Street Journal)
Stocks and commodities rallied while the dollar extended losses Wednesday as investors welcomed Federal Reserve Chairwoman Janet Yellen’s cautious stance on raising U.S. interest rates.
Futures pointed to a 0.6% opening gain for the S&P 500. Changes in futures don’t necessarily reflect market moves after the opening bell.
S&P 500 Futures Signal 3rd Day of Stock Gains Amid Fed Optimism (Bloomberg)
U.S. stock-index futures rose, indicating the Standard & Poor’s 500 Index will extend its highest level this year amid optimism interest rates will rise at a slower pace.
One of the world's largest banks has reportedly banned the word 'Brexit' (Business Insider)
Bank of America is reportedly asking its senior staff not to use the word "Brexit" when talking to clients, in an attempt to avoid getting involved in the fierce debate surrounding the UK's European Union membership referendum in June.
According to the Financial Times, the bank has asked staff not to say "Brexit" and "not to provide opinions, not to influence voters, not to assume a particular result and not to engage in campaigning" before the UK goes to the polls on June 23rd.
When it comes to saving money, millennials are killing it (Market Watch)
If you’re among the crowd who believe the current crop of 18-to-29-year-olds are a wasteful bunch, with zero smarts about money, a new survey may have you eating some crow.
A Major Leap for the Minimum Wage (The Atlantic)
When it began a few years ago, the campaign for a $15 minimum hourly minimum wage seemed little more than a populist pipe dream. The target was more than twice a federal floor of $7.25 that hasn’t been touched since 2009, and it easily swamped the most aggressive proposals from leading Democrats, which barely scraped double digits.
Investors tiptoe back into emerging markets as storm clouds linger (Business Insider)
Emerging markets may well appear cheap again after years of attrition, but there's considerable trepidation about venturing back out to the developing world until the financial and political storms have finally lifted.
Emerging Markets Rally Gathers Pace as Fed Stirs Inflow Support (Bloomberg)
It’s been at least 18 years since emerging-market currencies had it this good as the Federal Reserve adopted a gradual approach to its rate-increase cycle, fueling optimism capital inflows can be sustained.
Foxconn Offers to Buy Sharp for $3.5 Billion (NY Times)
The move by the Taiwan manufacturing company is intended to restrengthen its ties to Apple, which uses Sharp screens in the iPhone.
Oil climbs again as industry decides to 'wait and see' (Business Insider)
Oil prices jumped on Wednesday, rebounding from a bad Tuesday that many thought spelled the end of the recovery.
This hot commodity is crushing stocks, oil and even gold right now (Market Watch)
Rather than obsessing over when rates might rise from diddly-squat to squat, you instead could focus on what’s actually soaring.
Investors in gold are 'bullish' on Janet Yellen's latest speech — and now prices are jumping (Business Insider)
Gold is back to gains on Wednesday as investors in the precious metal react to the dovish tone struck by US Federal Reserve Chairman Janet Yellen in a speech late on Tuesday.
China Oil Giants Take Spending Cuts Deeper as Profits Shrink (Bloomberg)
After chopping spending by almost one-third to cope with a crash in oil prices and billions in writedowns that sent profits to the weakest since last decade, Chinas energy giants are cutting even deeper.
HSBC: Chinese credit is set to boom again (Business Insider)
Borrowing in China is about to get easier.
HSBC's Monetary Conditions Indicator, which measures how much and how cheaply new credit is created, shows that, while conditions were unchanged in February, the real interest rate is falling.
Miners Lead Biggest Gain in South African Stocks in Two Weeks (Bloomberg)
Mining stocks led a rally in South African shares, with the benchmark index advancing the most since March 17, as some investors bet that a weaker dollar will prove positive for commodity prices.
Saudi Arabia can't stop burning through its foreign cash (Business Insider)
Saudi Arabia, the Gulf State which is taking a beating from the crash in oil prices, got another chunk of bad news on the state of its economy.
Swedbank to Replace Chairman After He Lost Investor Support (NY Times)
The departure of Anders Sundstrom as chairman of the Swedish lender followed the ouster of Michael Wolf, its chief executive, in February.
Asia markets close higher after Yellen signals caution (Market Watch)
Shares in the Asia Pacific region finished mostly higher Wednesday, after the U.S. Federal Reserve signaled a slow pace on raising interest rates.
Italy Offers Escape From Negative Rates With Floater Yield Floor (Bloomberg)
Italy’s decision to set a floor of zero on the coupon on its floating-rate notes may boost demand for the securities as countries adapt to negative interest rates across the euro area’s sovereign-debt market.
Wells Fargo plans quiet assault on Wall Street from glass tower (Business Insider)
As Wall Street remakes itself on a former rail yard in the far west of Midtown Manhattan, one surprising name is leading the way.
Wells Fargo & Co, the San Francisco-based lender known for its retail banking business, has picked out space for a trading operation to use as a base for a stealth attack on the investment banking world.
European stocks are jumping after Janet Yellen struck a dovish tone (Business Insider)
European stocks are soaring on Wednesday after US Federal Reserve chairman Janet Yellen struck a cautious tone and dampened expectations of a rate hike in the US in the near future. The rally extends gains seen on Tuesday, the week's first day of trading after the Easter break.
Europe Traders Aren't Waiting Around to See If Rebound Holds (Bloomberg)
European stocks, which plunged 17 percent to start the year then recouped half the losses, are suddenly treading water. The onset of calm is failing to stem a crush of withdrawals among fund investors.
Politics
Tone-deaf Hillary Clinton doesn’t like Bernie Sanders’s combative tone (Market Watch)
The “tone” of the Republican primary campaign is getting a lot of press as the front-runners Donald Trump and Ted Cruz trade taunts, hurl charges, and even insult each other’s wife.
But the tone of the Democratic campaign has turned sharper as well, while not descending to the level of the playground bully as the Republicans have.
Trump drops pledge to back Republican presidential nominee other than himself (Reuters)
Republican front-runner Donald Trump on Tuesday abandoned a pledge to support a party presidential nominee other than himself, a sign of increasing friction with chief rival Ted Cruz.
"No, I don't anymore," Trump replied, when asked at a CNN town hall event whether he still supported a pledge he made last year to support whoever is the Republican nominee for the Nov. 8 election.
Technology
This Tiny 4-Inch TV Aerial Weighs 3oz But Picks Up Channels Perfectly (Gizmodo)
Small TV aerials usually suck—but that could be changing. A team of researchers from the the University of Morelos in Mexico has developed this tiny antenna, which measures just 4 inches in length and weighs 3 ounces while picking up the same analog and digital TV signals that any larger aerial would.
Microsoft will unveil an army of AI bots today (The Verge)
Microsoft's chatbot Tay may have suffered a racist meltdown last week, but the company is not giving up on AI. According to a report from Bloomberg Businessweek, Microsoft plans to unveil several prototype bots at its annual Build conference later today. These AI-powered programs will further Microsoft CEO Satya Nadella's vision of "conversation as a platform," with users able to interact with the bots using natural language, directing them to complete certain tasks.
Health and Life Sciences
This Is How Uncertainty Makes You Lose Your Mind (Forbes)
I’m going to give you three options. You’ll only be ok with one of them, and one of the other two is going to nudge you a little closer to insanity. Ready? Here they are: (1) I am not going to give you an electric shock, (2) I am definitely going to give you an electric shock, or (3) I might give you an electric shock.
Exercise Makes Our Muscles Work Better With Age (NY Times)
To keep our muscles healthy deep into retirement, we may need to start working out more now, according to a new study of world-class octogenarian athletes. The study found substantial differences at a cellular level between the athletes’ muscles and those of less active people.
Curing Cancer Is Within Reach (Bloomberg View)
One of the most frightening words a patient can hear from a doctor is “cancer.” We know it from the experience of our families and friends, and the millions of Americans who hear it directly from their doctors each year.
Life on the Home Planet
U.S., allies conduct 24 strikes against Islamic State: U.S. military (Reuters)
The U.S. and its allies conducted 24 strikes against Islamic State in Iraq and Syria on Tuesday, the coalition leading the operations said.
30 intriguing superstitions from around the world (Mashable)
"Don't step on a crack or you'll break your mother's back!" Many American kids grew up hearing this one.
But what about "Don't chew gum at night or else it will turn into human flesh!"? That's a popular refrain in Turkey.
