Financial Markets and Economy
Global Stocks Broadly Higher, Reversing Early Losses (Wall Street Journal)
Global stocks climbed Tuesday, while the dollar strengthened against the euro and yen.
Shares, dollar climb as markets play Fed waiting game (Reuters)
European shares were heading for their best day in over a month on Tuesday as the waiting game to see whether the U.S. raises interest rates again next month sent the euro to its lowest since March.
Asian shares had stumbled to near 2-1/2-month lows overnight but Europe jumped as the weaker euro, hopes for a swift Greek aid deal in Brussels later and confirmation Germany's economy had a solid start to the year lifted spirits.
Saudi Arabia’s New Oil Plan Shows It’s Just Not That Into OPEC (Bloomberg)
Saudi Arabia, one of the founders of OPEC, is sounding the group’s death knell.
Switzerland Opens Criminal Proceedings Against BSI Over 1MDB Dealings (Wall Street Journal)
Authorities in Switzerland said Tuesday they have opened criminal proceedings against Swiss private bank BSI SA for “serious breaches” of anti-money-laundering regulations relating to its dealings with Malaysian state investment fund 1Malaysia Development Bhd.
Apple Said to Hit Setback in Push to Open Stores in India (Bloomberg)
Apple Inc. Chief Executive Officer Tim Cook went to India last week to push his bestselling iPhones. The trip may not have paid off.
Oil falls for fifth day as focus returns to growing exports (Reuters)
Oil fell for a fifth consecutive day on Tuesday on rising production from major exporters, and as the dollar strengthened.
Brent futures LCOc1 had declined 25 cents to $48.10 a barrel by 1051 GMT, after closing down 37 cents in the previous session.
The Hedge Fund That Couldn't Stay Open Long Enough for a Big Payday (Bloomberg)
Toby Dodson waited six months for his bet against a fragile Portuguese bank to pay off.
NASDAQ Denies MassRoots Stock Listing Application (Forbes)
MassRoots, a social platform for cannabis users, has been rebuffed in its attempt to list its stock on the NASDAQ exchange.
Bank of America Penalty Thrown Out in Crisis-Era ‘Hustle’ Case (Wall Street Journal)
An appeals court dealt the Obama administration a major setback in its efforts to levy tough fines on corporations and executives, overturning a civil mortgage-fraud case against Bank of America Corp. tied to the financial crisis.
Fed Shouldn’t Kid Itself on Rate Risk, Says $200 Billion Manager (Bloomberg)
Federal Reserve policy makers must appreciate the danger that higher interest rates could hurt the U.S. economy by strengthening the dollar and pressuring global growth, said Krishna Memani, chief investment officer of OppenheimerFunds Inc.
Why the ‘big top’ is already in for this stock market (Market Watch)
The bears are starting to pop up everywhere. They’re gearing up for the summer, rolling around in the meadow, basking in the glow of a never-ending stream of Fed speakers who keep telling this market that a rate hike or two is on the cards.
G7 to examine economic risk, vow policy mix to spur growth (Reuters)
Leaders from the Group of Seven advanced economies will examine potential risks to the global economy when they gather this week for their summit in western Japan, government sources told Reuters.
Is Bail Causing Convictions? (The Atlantic)
Of the many surprising statistics about America’s money bail system, this one may be the most astounding: More than 60 percent of people in America’s overcrowded jails are there because they can’t afford to pay their bail amount. That works out to roughly 450,000 Americans in jail daily, and how long they stay there can vary with waiting times for trials potentially lasting months (or sometimes, years).
Gold tracks 5th straight loss as higher-rate sentiment holds (Market Watch)
Gold futures logged a fifth straight drop on Tuesday, keeping prices pinned at their lowest in several weeks amid expectations the Federal Reserve will nudge interest rates higher, dulling demand for holding precious metals.
Futures rise, but focus still on Fed (Business Insider)
U.S. stock index futures were higher on Tuesday even as investors continue to focus on the timing of future interest-rate hikes.
Banks Keep Cutting Bond Traders as One-Third Gone Since 2011 (Bloomberg)
The world’s biggest banks have shed about one in three bond traders since 2011 as rules making some businesses less profitable dovetail with volatile markets that are spooking investors, according to research from Coalition Development Ltd.
Best Buy is tumbling after a disappointing outlook (Business Insider)
Shares of electronics retailer Best Buy are sliding Tuesday morning in pre-market trading after the company reported better than expected earnings, but lackluster guidance.
Politics
Republicans Pretend to Like Trump (Bloomberg)
With Donald Trump all but guaranteed to be the Republican candidate for president, even his most vociferous GOP opponents are starting to make nice. Margaret Carlson takes note as party stalwarts like Lindsey Graham and Bob Corker begin to fall like dominoes.
Poll Finds Lack of Enthusiasm for Clinton and Trump (Wall Street Journal)
Hillary Clinton and Donald Trump share a defining asset that is fueling support for both in the 2016 presidential race: voters’ animus toward the other candidate.
Will Bernie Sanders Hurt His Own Cause? (The Atlantic)
Bernie Sanders’s beliefs have been obvious from the start. He thinks wealthy elites exert too much influence over American politics. He wants the U.S. government to lessen income inequality. He believes climate change is a pressing threat to the world. The clarity and overarching ambition of his agenda has been central to his appeal and expectations-defying political success so far.
Technology
These Headphones Adapt Their Sound To Fit Your Unique Hearing Profile (PSFK)
The quest for the perfect pair of headphones often involves looking for factors such as design and sound quality. But one team has created a pair of headphones that actually sound different to each user. Nura are headphones that can “learn and adapt” to the user’s hearing. They use both an in-ear and over-ear design to create a tailored experience for each user.
Who Knows If Robots Will Rob Us Of Our Livelihoods, But They May Help Us Live Longer (Forbes)
Talk of the coming “second machine age” seems to be all the rage. Machines will “man” factories, assist the aged, drive cars, drop bombs and packages and can help us with Internet shopping. Russian entrepreneur, Yuri Milner, Stephen Hawking and Mark Zuckerberg are even plotting to send a fleet of robots to Alpha Centauri. There is much debate over whether, with this much incursion into our lives, the bots will take away our livelihoods. The optimists argue that they will simply free us up to make more of our lives.
Health and Life Sciences
Is Mindfulness And Mediation Right For You? (Forbes)
I started practicing mindfulness and meditation for the typical reason that many people do — in an effort to find a better way of managing stress and anxiety. Lawyers suffer from a disturbingly high rate of alcohol and substance abuse. I suspect much of this is due to the overwhelming chronic stress that so many of us face. Lawyers also suffer from a very high rate of stress as well as anxiety.
Myriad Genetics embroiled in breast-cancer data fight — again (Nature)
Genetic-testing firm Myriad Genetics is facing a legal challenge from people who say the company refused to give them access to their own genomic data, in violation of a US government rule on medical records.
Life on the Home Planet
French police break up refinery blockade in anti-reform showdown (Reuters)
French riot police broke up a strike picket at an oil refinery near the southern port of Marseille on Tuesday in a government versus union showdown over unpopular labour law reforms.
