Financial Markets and Economy
Bank of America: We are witnessing a stock market 'exodus' (Yahoo Finance)
Amid the recent volatility in the markets, investors have been pulling funds out of equities.
"The 2015 retreat from US equities by retail investors appeared to be fading as 2016 got off to a less onerous start," Credit Suisse's Lori Calvasina said on Thursday. "But the improving trend has reversed, with severe outflows seen in April."
According to a new report from Bank of America Merrill Lynch, equity funds saw $7.4 billion in outflows in the past week.
Stocks Give Up Week’s Gains as Commodities Fall; Yen, Bonds Rise (Bloomberg)
The world’s financial markets just can’t shake off a sense of gloom.
We just got another really ominous sign for the retail industry (Business Insider)
The retail sector's having a tough time. And this week in particular was pretty rough.
Dollar hits two-week high, posts best fortnight since February (Reuters)
The dollar hit a two-week high against a basket of currencies on Friday, posting its best fortnightly performance since February, bolstered by the view that the U.S. Federal Reserve is still on track to raise rates before any other major central bank.
Gundlach Sees 50% Odds of Fed Move as Treasury Volatility Falls (Bloomberg)
Jeffrey Gundlach said there’s a 50 percent chance the Federal Reserve will raise interest rates this year.
Hedge Fund Star: We Are ‘Under Assault’ (Wall Street Journal)
Some of the most famous minds in investing convened here this week for an annual celebration of the hedge-fund industry. But, feeling the weight of years of underperformance and an uptick in client defections, the mood was anything but festive.
Producer prices disappointed (Business Insider)
The latest producer price index rose 0.2% in April compared to the prior month, and 0.0% compared to the prior year.
Oil at $45 a Barrel Proving No Savior as Bankruptcies Pile Up (Bloomberg)
Three bankruptcies this week shows that $45 a barrel oil isn’t enough to rescue energy companies on the verge of collapse.
Why gold won’t break out of a tight trading range (Market Watch)
Bad news, gold bugs: The precious metal’s trading range is likely to continue.
Yellen, in Letter, Does Not Rule Out Negative Interest Rates (Wall Street Journal)
Federal Reserve Chairwoman Janet Yellen said Tuesday the Fed wouldn't rule out using negative interest rates to boost the economy but she cautioned such a move would have to be carefully studied.
Nerves dominate before U.S. retail numbers (Reuters)
The dollar was set for a second week of gains on Friday while stock markets fell ahead of a handful of major U.S. and Chinese data releases which may do little to settle growing nerves over the outlook for the world's two biggest economies.
U.S. Stock Futures Pare Losses After Retail Sales (Wall Street Journal)
U.S. stock futures pared losses Friday after an upbeat reading on U.S. retail sales.
OPEC Sees Rival Oil Production Declining as Markets Rebalance (Wall Street Journal)
Shrinking U.S. output and massive cuts to investment in new projects will reduce the global oil glut over the course of this year, the Organization of the Petroleum Exporting Countries said Friday, potentially pushing world-wide oil production lower than demand in 2017.
German GDP growth picks up sharply? (Market Watch)
German economic growth accelerated sharply in the first quarter, led by domestic consumption and brisk construction activity, the Federal Statistical Office said Friday.
Don't Bet Against the Danish Central Bank (Bloomberg)
The man overseeing the world’s longest period of negative interest rates says any funds betting against the currency peg he’s defending will ultimately lose money.
Apple Invests $1 Billion in Didi, Uber’s Rival in China (Wall Street Journal)
Apple Inc. is betting $1 billion on China’s homegrown competitor to Uber Technologies Inc., marking the technology giant’s largest investment in a critical market at a time when its global fortunes are flagging.
Hong Kong’s Economy Unexpectedly Contracts in First Quarter (Bloomberg)
Hong Kong’s economy unexpectedly contracted in the first quarter as falling retail sales and a weakening property market weigh on the city.
Once touted as world’s soundest, Canadian banks are falling behind global peers on a key strength gauge (Financial Post)
Canada’s banks, touted as the world’s soundest for eight straight years by the World Economic Forum, have become laggards to global peers on a key gauge of their ability to absorb losses.
California may cut spending plan amid lower than expected tax receipts (Reuters)
California Governor Jerry Brown on Friday is expected to amend his proposed $170.7 billion spending plan for the next fiscal year in the wake of unexpectedly low tax revenues.
Sequoia Fund, Hurt by Valeant Stake, Readies to Face Its Investors (Wall Street Journal)
Investors in Sequoia Fund Inc., battered by its outsize stake in Valeant Pharmaceuticals International Inc., have an opportunity next week that most mutual-fund investors never get.
Politics
Brazil’s Newest Club Is All Boys and They’re Running the Country (Bloomberg)
Brazil’s new leader, Michel Temer, seeking to unite a splintered nation, has selected a cabinet of ministers from across this sprawling country — young, old, northerners, southerners. But of some two dozen named so far, all are men and none are black. That has drawn instant and intense criticism.
Trump on best behavior as he woos Republicans but differences remain (Reuters)
U.S. Republican presidential candidate Donald Trump went on a charm offensive on Thursday to try to win the party establishment's support for his insurgent candidacy, but top Republican Paul Ryan stopped short of endorsing him.
The Donors Who Love Bernie Sanders A Little Too Much (The Atlantic)
Bernie Sanders has become known for his legions of diehard supporters, millions of whom have flooded his campaign with small-donor contributions. Yet many of those fans, it turns out, have become a little too supportive of the Vermont senator’s presidential bid.
For months, the Federal Election Commission has been writing to the Sanders campaign with warnings that hundreds of his donors have exceeded the $2,700 contribution limit and that hundreds more may be foreign nationals illegally giving Sanders money.
Technology
This smart table tennis trainer might change the future of ping pong (Quartz)
German designer Thomas Mayer created this futuristic training interface for ping pong players, which he says might “change the game play totally.” It has a slew of different functions, which you can see in the video above, to help players improve their game. Using it feels like you’re playing a mix of video games and a real ping pong game. But right now it’s just a prototype. Thomas is looking for investors and partners to figure out how to develop this into a scalable product.
Samsung might bring its "eye-catching" Charm wearable to a country near you (The Verge)
Samsung's Charm fitness tracker counts steps and tells you when you're getting a call, text, or social media update. But this isn't just a regular wearable, Samsung says. No, this one has a "sleek design" and looks more like a "piece of jewelry than an electronic device." Hm. Ok.
Health and Life Sciences
‘Plastic Antibodies’ in Deodorant Attack Your Smelly Molecules (Scientific American)
French researchers have incorporated molecularly imprinted polymers (MIPs) – dubbed ‘plastic antibodies’ – into a cosmetic product to capture precursor chemicals in human sweat that cause bad smells. It's the first time that MIPs have been added to a cosmetic formulation and could lead to better deodorants.
The Downside of Smoothies (NY Times)
It’s very likely that you are getting more calories and sugar when you drink a smoothie than when eating whole fruits or vegetables, said Sarah B. Krieger, a registered and licensed dietitian nutritionist who spoke for the Academy of Nutrition and Dietetics, a professional trade group. Smoothies enjoy a “health halo” that can be misleading, “but the bottom line is quantity, and people are often consuming a 20- or 24-fluid-ounce smoothie. That’s a lot.”
Life on the Home Planet
Is there any point in planting new trees? (BBC)
Successive governments have made popular pledges to plant large numbers of new trees. But do these trees ever actually get planted and, where they do, does it ever achieve anything useful?
Woodlands have a vital role to play in our landscape. As well as being a valuable source of homegrown timber, trees store carbon, provide an essential home for wildlife, absorb air pollution, and are important spaces for pleasure and leisure.
Top Hezbollah commander killed in Syria (Reuters)
Top Hezbollah commander Mustafa Badreddine has been killed in an attack in Syria, the Lebanese Shi'ite group said on Friday, the biggest blow to the Iranian-backed organization since its military chief was killed in 2008.
