Financial Markets and Economy
Stock futures slightly higher as economic data awaited (Business Insider)
U.S. stock index futures were slightly higher on Thursday, after the S&P 500 posted its strongest two-day run since early March, and as investors await data to gauge the economy's strength.
Oil tops $50, lifts commodity stocks but Fed, China weigh (Reuters)
Brent crude oil topped $50 a barrel for the first time in nearly seven months on Thursday lifting commodity and energy-related shares in Europe and Asia though worries about U.S. interest rates and signs of slowdown in China limited gains.
Fed's Bullard: global central bank policy divergence has been priced in (Reuters)
The divergence in monetary policy between the U.S. Federal Reserve and other major central banks has been generally priced in, St. Louis St. Louis Federal Reserve President James Bullard said on Thursday.
Occupy Wall Street is back — and it might actually succeed this time (Salon)
What the hell happened to Occupy Wall Street?
After the Great Recession of 2008, the climate was ripe for populism. Americans were pissed off. The same people who wrecked the economy were, once again, rewarded for their recklessness. The logic of “too big to fail” made sense, but the reality was that these institutions were too big for justice. Necessary or not, the bailouts were an affront to the people whose livelihoods were plundered by the banks.
At Swinging Wall Street Parties, the Feds Are Now on the Prowl (Bloomberg)
The drinks were flowing in Miami Beach that evening when Wall Street’s top cop crashed the party.
No Treasuries Left for Wall Street Dealers Amid Blowout Auctions (Bloomberg)
After two notes sales this week left primary dealers with the fewest Treasuries on record, investors will get another chance to load up on U.S. government debt Thursday as seven-year securities are auctioned.
New York financial regulator gearing up to probe online lenders – source (Reuters)
New York state's financial regulator, which recently launched a probe into LendingClub Corp, is preparing to look into the activities at other online lenders and whether they should be licensed in New York, a person familiar with the matter said on Wednesday.
One Year After Bubble Burst, China’s Stock Market Has Gone Quiet (Bloomberg)
It’s been almost 12 months since China’s equity market embarked on a precipitous decline that would erase $5 trillion of value, and the nation’s stocks have rarely been this subdued.
Here’s one really obvious way to boost the US economy (Quartz)
If you’re confused about why American economic growth has been so disappointing, consider this: US government investment in capital, research and development, and education and training is at its lowest point in 45 years. In 2014, federal investment turned negative for the first time since 2001, meaning that government capital is depreciating or becoming obsolete faster than it is being replaced.
U.S. stock futures edge higher after Dow’s big 2-day jump (Market Watch
U.S. stock futures on Thursday pointed to a slight rise at the open, putting the Dow industrials on track to build a little on its rise of 359 points in two sessions.
Brent Crude Rises Above $50 a Barrel (Wall Street Journal)
The price of Brent crude rose above $50 a barrel on Thursday as declines in U.S. crude stocks boosted sentiment even as analysts cautioned that there are still a number of headwinds for the commodity as it recovers from a two yearslong supply glut.
Disgruntled Icelanders recently forced their prime minister to quit, and are threatening to hand power to self-styled pirates at an early election.
But whereas other European voters are culling traditional parties out of weakness, Reykjavik’s are rebelling out of strength.
"Dovish" Fed Expectations Collapse To Lowest Since 2015 (Zero Hedge)
Back in the middle of February – during the height of the financial-market turmoil, the market was pricing in a shockingly policy-error-ish 36.5% chance of a rate cut in 2016.
The Little-Known Alibaba Unit That Prompted an SEC Probe (Bloomberg)
The Chinese delivery business that lets customers of Alibaba Group Holding Ltd. ship packages from Shanghai in the east to a far-flung province bordering Pakistan in the west is now stirring questions from U.S. regulators.
China's economic planner warns against irregular offshore debt issuance (Reuters)
Some Chinese firms are improperly issuing offshore debt, China's economic planning agency said on Thursday, warning that violators will be punished and signaling concern over firms' offshore debt as the yuan resumes its slide against the dollar.
Qatar Stuns Mideast Debt Market With Record $9 Billion Bond (Bloomberg)
Qatar’s unprecedented $9 billion Eurobond sale has pressed the re-set button for the Gulf region’s debt market.
Insurers Seek Big Premium Boosts (Wall Street Journal)
Big health plans stung by losses in the first few years of the U.S. health law’s implementation are seeking hefty premium increases for individual plans sold through insurance exchanges in more than a dozen states.
The 'war on cash' can be traced back to ancient times (Business Insider)
The war on cash is now a global phenomenon: under the pretext of tracing criminal activity, governments everywhere are cracking down on commerce that isn’t monitored or controlled.
Stocks Extend Rally, Buoyed by Oil, Financial Shares (Wall Street Journal)
The S&P 500’s financial sector rallied to its highest level of the year Wednesday, propelling the broader market for the second straight session.
Gold Daily and Silver Weekly Charts – Option Expiration Completed (Jesse's Cafe Americain)
Just as Hillary Clinton represents what has gone wrong with our political system and its inability to reform itself, as least to me, so the Comex represents what has been bent and twisted out of shape in the trading markets.
An Inside Look at the World's Biggest Paper Gold Market (Zero Hedge)
Every day, there are a whopping 5,500 tonnes ($212 billion) of gold traded in London, making it the largest wholesale and over-the-counter (OTC) market for gold in the world.
Politics
Trump political director leaves after just 6 weeks (USA Today)
Veteran Republican political operative Rick Wiley, who was hired as Donald Trump's national political director in April, is already being shown the door.
"Rick Wiley was hired on a short-term basis as a consultant until the campaign was running full steam," the campaign said in a statement Wednesday. "It is now doing better than ever, we are leading in the polls, and we have many exciting events ready to go, far ahead of schedule, while Hillary continues her long, boring quest against Bernie.
Trump Can't Get Past the Door in Rust Belt Homes (Bloomberg View)
Donald Trump has a personal problem with voters that transcends policy differences, partisan affiliations and political concerns: They don't want him in their homes and aren't eager to have their kids exposed to him.
These are among the findings of an online poll of working-class voters in the Rust Belt.
Obama says G-7 leaders focus on economic growth (AP)
President Barack Obama says G-7 leaders are focused on the need to accelerate economic growth.
Obama is speaking to reporters after the first day of meetings. He says that the leaders of the G-7 nations are intent on using all of the tools at their disposal to put people back to work and to lift wages.
Technology
HP launches a new line of gaming laptops, desktops, and accessories (The Verge)
HP is getting back into the gaming world with a new line of products called Omen. The Omen series will feature laptops, desktops, and accessories targeted across different price ranges, from cheaper notebooks up to higher-end towers for serious gamers with a lot of disposable income.
Japanese engineers say their flying cars will be in the air by the Tokyo Olympics (Telegraph)
A team of young Japanese engineers is developing a flying car with the goal of launching it in time for the 2020 Tokyo Olympics.
The futuristic vehicle – dubbed Skydrive – is fitted with three wheels, a motor and four rotors, enabling it to take off and land vertically from public roads without the need of a runway.
What Governments Can Do When Robots Take Our Jobs (Fortune)
Machines are rising.
One key fact of economic life is that most people who don’t work in capitalist societies don’t make any money. Some social and economic policy wonks have argued, then, that as automation improves our productivity we can afford to pay people a living wage, whether they work or not. This idea is popping up across Europe. Several cities in Holland, beginning with Utrecht, will see what happens when people in a community are simply granted a basic income (about $1,000 per month), effectively breaking the bond that has always existed between income and work.
Health and Life Sciences
Genes Vs. Bad Habits In Heart And Brain Diseases: Is Testing The Answer? (Forbes)
Columbia University professor and Pulitzer-prize-winning author Siddhartha Mukherjee makes a bold prediction in his new book, The Gene: An Intimate History. By the end of this decade, he writes, some forms of heart and brain disease “will be predictable by the combined effect of a handful of mutations.” In fact, it’s already possible today for people to have their genes tested so they can learn something about their risk for cardiovascular and neurological diseases decades before they develop symptoms. And the understanding about how big a role genetics plays in these disorders is increasing by the day.
'Thousands miss out' on surgery for type-2 diabetes (BBC)
Thousands of people with type-2 diabetes in the UK are missing out on obesity surgery that would slash blood sugars and even lead to remission in some cases, a team of experts say.
Leading surgeon Prof Francesco Rubino described the gut operation as "the closest thing to a cure" available.
Life on the Home Planet
Migrant numbers growing again at Calais camp (Reuters)
Hundreds more migrants have made their way to Calais on France's north coast in recent months despite the bulldozing of part of their "jungle" camp in March, and despite extra port security aimed at stopping them from reaching Britain.
China to send nuclear-armed submarines into Pacific amid tensions with US (The Guardian)
The Chinese military is poised to send submarines armed with nuclear missiles into the Pacific Ocean for the first time, arguing that new US weapons systems have so undermined Beijing’s existing deterrent force that it has been left with no alternative.
Chinese military officials are not commenting on the timing of a maiden patrol, but insist the move is inevitable.
New Taliban leader vows: No peace talks; 'terror on enemies' will continue (CNN)
he new Afghan Taliban leader has told commanders and the group's supreme leadership council that there will be no peace talks with the Afghan government, a source in the group reached through an intermediary said Wednesday.
