Financial Markets and Economy
The wheels of the US economy may be grinding to a halt (Business Insider)
Or, as Bespoke Investment Group put it in a note Monday, "Both reported demand and reported supply of C&I loans are suggesting that credit will stop flowing to business from banks in the near future, if history is any guide."
U.S. Stock-Index Futures Decline as Growth Concerns Resurface (Bloomberg)
U.S. stock-index futures fell, following the S&P 500’s strongest advance in more than two weeks, amid rekindled angst over the sluggish pace of global growth and an uninspiring flow of corporate earnings.
Global markets are under pressure (Business Insider)
Major global markets and US stock futures were weaker on Tuesday after some ugly news out of China.
There's a big reason the US dollar has been getting destroyed (Business Insider)
It's been a rough couple of months for the US dollar.
Hedge Funds Under Attack as Steve Cohen Says Talent Is Thin (Bloomberg)
In less than seven days, hedge funds have been subject to a three-pronged attack by some of the biggest names in finance.
The Super Rich Were the First to Bail During the Financial Crisis (Bloomberg)
When the going gets rough, the 1 percent start selling.
A Possible Cure for Japan's Low Inflation (Bloomberg View)
Japan's central bank has long been battling an ailment that now afflicts much of the developed world: unduly low inflation, which tends to go together with lackluster economic growth. If it wants to succeed in its efforts, it may have to aim to overshoot its inflation goal.
Global stocks slide as yen, euro gains question policy thrust (Reuters)
The dollar slid to its lowest against major currencies in well over a year on Tuesday, a move led by further gains in the yen that threw an uncomfortable spotlight on central banks' attempts to boost growth through aggressive policy easing.
Crude oil slammed 1.3% as supply-glut fears return (Market Watch)
Oil futures dropped on Tuesday, with renewed fears of a supply glut hitting investor confidence ahead of weekly inventory data that are expected to show an increase in crude supplies.
EU Sees Weaker Growth in Eurozone and Wider EU as China Slowdown Weighs (Wall Street Journal)
Growth in the eurozone and the wider European Union will be slightly weaker this year than previously forecast, the European Commission said Tuesday, warning that the economic slowdown in China and other emerging markets, geopolitical tensions and uncertainty ahead of the U.K. referendum on EU membership could weigh on the economy.
Euro Set for Longest Run of Gains Since 2013 as Fed Focus Fades (Bloomberg)
The euro advanced, headed for its longest winning streak against the dollar since 2013, amid signs the Federal Reserve will delay raising interest rates.
Gold tries for longest win streak in 3 1/2 months (Market Watch)
Gold futures climbed for a seventh straight session Tuesday—its longest streak in 3 1/2 months—as the U.S. dollar faded and traders lost their appetite for riskier assets including stocks as worries about China’s shaky economy resurfaced.
Saudi plans stock market reforms to draw foreign money (Business Insider)
Saudi Arabia announced a string of reforms to its stock market that could attract billions of dollars of fresh foreign money and smooth sales of state assets as the kingdom grapples with damage to its finances caused by low oil prices.
UBS Drops as Profit Misses Estimates on Wealth, Trading Income (Bloomberg)
UBS Group AG plunged the most in three months after first-quarter profit missed analysts’ estimates, hurt by a slump in earnings across wealth-management and trading businesses.
China's banking regulator moves to contain off-balance sheet risk (Reuters)
China's banking regulator, in a move to rein-in the rapidly growing 'shadow loans' industry, has told commercial lenders to properly account for lending products that may appear on their balance sheets as lower-risk investments.
Australia Budget Highlights Low-Growth Challenge: Moody's (Bloomberg)
Marie Diron, senior vice president at Moody’s Investors Service, made the following comments after Australian Treasurer Scott Morrison handed down a federal budget that forecasts a A$37.1 billion ($28 billion) deficit in the 12 months through June 2017, wider than he predicted six months ago.
Commerzbank Falls Most Since 2013 as Interest Rates Hit Revenue (Bloomberg)
Commerzbank AG fell the most in more than three years after first-quarter profit slumped amid record-low interest rates, which squeezed margins and revenue at the consumer and corporate lending businesses.
German Bonds Advance as EU Cuts Euro-Area Inflation Outlook (Bloomberg)
Germany’s government bonds climbed as the European Commission cut its inflation forecast for the euro region by more than half, bolstering speculation that the European Central Bank will increase stimulus.
Pfizer Beats Estimates as Vaccine, Cancer Drug Sales Surge (Bloomberg)
Pfizer Inc. reported first-quarter earnings that exceeded analysts’ predictions on strong sales from its innovative drug division, which could become its own separate company if managers decide later this year to break up the business.
Halliburton adjusted profit beats estimate, helped by cost cuts (Reuters)
Halliburton Co, the world's No.2 oilfield services provider, reported a higher-than-expected adjusted profit for the first quarter as deep cost cuts helped cushion the impact of a drop in drilling and completion activity.
Aeropostale Preparing to File for Bankruptcy This Week (Wall Street Journal)
Aéropostale Inc. is preparing to file for bankruptcy protection this week and close more than 100 stores, according to people familiar with the matter, as the teen-apparel retailer contends with mounting losses and falling sales.
Martin Shkreli, the former pharma executive everyone loves to hate, may face new charges (Business Insider)
Martin Shkreli, the founder of Turing Pharmaceuticals described in some quarters as the "most hated man in America," may face new charges.
Twitter just collapsed to an all-time low (Business Insider)
In early trading on Tuesday the stock fell 3% to as low as $13.90 a share, a level it had not reached since the company went public in November 2013. The broader stock market was also selling off.
Politics
How Do You Build a Political Movement? (The Atlantic)
Just when it looked like Bernie Sanders might be poised to tone down his criticism of Hillary Clinton, the Democratic presidential candidate signaled he won’t shy away from a fight. The Sanders campaign escalated its condemnation of the Clinton campaign’s fundraising methods on Monday, seizing on a Politico report to accuse Clinton of “looting funds meant for the state parties to skirt fundraising limits on her presidential campaign.”
Trump looking for decisive blow against Cruz in Indiana showdown? (Reuters)
New York billionaire Donald Trump expects Republican primary voters who cast ballots on Tuesday in Indiana to make him unstoppable in his march toward the party's presidential nomination.
Can Clinton Win Back Appalachia? (The Atlantic)
In the 2008 Democratic primary, Appalachia was the heart of Clinton country.
Hillary Clinton did better against Barack Obama in Kentucky, West Virginia, and Arkansas—her longtime home state—than anywhere else in the nation.
Technology
Microsoft Brings Snapshot-Powered Web Searches to iPhones (Wall Street Journal)
Microsoft Corp. updated its Bing search app for iOS on Monday with a new feature that lets you search for images by taking a photo with your iPhone or uploading an image from your camera roll. Yet again, the company has built a useful, fun piece of software for iPhones—and not its own Windows phone operating system.
Two Sigma Co-Founder `Very Worried' Machines Will Take Jobs (Bloomberg)
David Siegel, co-founder of $35 billion quantitative hedge fund firm Two Sigma, says he’s “very worried” that machines could soon cost large swaths of the workforce their jobs.
Health and Life Sciences
New prostate cancer drugs 'promising' (BBC)
A new type of drug could benefit men with aggressive prostate cancer that is no longer responding to treatment, researchers from the Institute of Cancer Research have said.
Life on the Home Planet
UK wins satellite contract to 'weigh' Earth's forests (BBC)
British industry is to lead the construction of a satellite that will weigh all the world's trees.
The Biomass mission's novel space radar will make 3D maps of forests, improving our understanding of how carbon is cycled through the Earth system.
Islamic State breaches peshmerga defenses north of Mosul (Reuters)
Islamic State militants attacked Kurdish peshmerga forces on multiple fronts in northern Iraq on Tuesday, breaching their defenses and briefly taking over a town, military sources said.
The attacks around the northern city of Mosul are the largest against Kurdish forces in recent months by the insurgents, who have been losing ground to an array of forces in the north and west of the country.
