Financial Markets and Economy
World stocks edge toward one-month high; U.S. jobs data eyed for Fed clues (Reuters)
World shares advanced toward their highest level in a month on Friday, although investor wariness over the rising prospects of a near-term interest rate hike by the Federal Reserve subdued activity as traders awaited U.S. jobs data later in the day.
Commodities Stand on Brink of Bull Market After Oil’s Recovery (Bloomberg)
Commodities are nearing bull-market territory after rebounding from the lowest level in at least 25 years as oil prices rallied, complementing advances in recent weeks in soybeans and zinc.
The global market for negative-yielding debt is worth a colossal $10 trillion (Business Insider)
The amount of debt globally yielding below zero has passed $10 trillion (£6.9 trillion) for the first time in history, thanks to a combination of "unconventional monetary policies, regulatory risk mitigation by banks, and a flight to safety in global financial markets," according to the credit-ratings agency Fitch.
U.S. Stock-Index Futures Are Little Changed Before Payrolls Data (Bloomberg)
U.S. stock-index futures were little changed, with the S&P 500 at a seven-month high, as investors awaited the government’s monthly payrolls report for more clues about the strength of the economy.
Employers in U.S. Moderating the Pace of Hiring: Jobs Preview (Bloomberg)
The May payroll reading will be difficult to decipher after the U.S. jobs recovery suffered a bit of a slowdown in April.
The world’s largest platinum miner has huge labor problems (Business Insider)
I wrote last week about the looming problems in South Africa’s platinum sector, with tough contract negotiations with unions coming up for mining companies in the world’s top-producing nation.
And it didn’t take long after that writing for labour issues to explode into action.
Gold edges up from 3-month low ahead of jobs report (Market Watch)
Gold futures inched higher Friday after settling at a more than three-month low on Thursday.
Global markets, including precious metals, are awaiting more evidence from the U.S. labor market to support or undermine what have been growing expectations for a U.S. interest rate hike sooner versus later.
Mystifying Bond Buybacks in Russia Could Be an Edge Against Fed (Bloomberg)
For some Russian companies, buying back debt at a loss makes perfect sense right now.
Brent crude oil holds above $50 on signs of rebalance (Reuters)
Brent crude prices held around $50 a barrel on Friday on signs the market was moving back to more balanced supply and demand, and on an OPEC meeting viewed as supportive.
Why America Needs Finance That Works for Business (Time)
In an opinion piece today in the Wall Street Journal, Harvard Business School dean Nitin Nohria took issue with the core premise of my new book, Makers and Takers: The Rise of Finance and the Fall of American Business: that as finance has nearly quadrupled in size as a percentage of the U.S. economy over the last several decades, economic growth has slowed. Nohria argues that “Wall Street remains a fundamentally value-creating enterprise.” To a large degree, the statistics simply don’t back him up.
U.S.-based stock funds post fifth straight week of withdrawals -Lipper (Reuters)
Investors pulled $776 million from U.S.-based stock funds in the week that ended June 1, Lipper data showed on Thursday, adding a fifth straight week to the funds' streak of withdrawals.
How the U.S. and China could benefit from going cashless (Market Watch)
If you can’t imagine a cash-free world, you aren’t alone — despite the prevalence of credit and debit cards and the rise of mobile payments, more than 80% of all transactions worldwide still happen in cash.
Learn This Mind Trick For Better Investing (Forbes)
When you start learning to invest, your mind works against you in ways you might not expect. For instance, when you look at the performance of an asset class recent activity will weigh more heavily on your mind.
Politics
Clinton attacks Trump's foreign policy as a threat to U.S. safety (Reuters)
U.S. Democratic presidential candidate Hillary Clinton lambasted Donald Trump's foreign policy platform as "dangerously incoherent" in a speech on Thursday that cast her Republican rival as both a frightening and laughable figure.
Donald Trump Rebukes Hillary Clinton as Clash Erupts Outside Event (NY Times)
Donald J. Trump unleashed an attack on Hillary Clinton on Thursday in response to her speech earlier in the day criticizing his foreign policy positions.
Trump strikes back at Clinton's 'phony' speech (The Hill)
Republican presumptive nominee Donald Trump lashed out at Hillary Clinton after her "phony" foreign policy speech Thursday, continuing to hit her hard over her private email server.
“Remember I said I’m a counter-puncher? I am. After what she said about me today in her phony speech — that was a phony speech, that was a Donald Trump hit job — I will say this: Hillary Clinton has to go to jail," he said at a rally in San Jose, Calif., Thursday night.
Technology
Apple standalone 5K display might include its own graphics chip (Engadget)
To call Apple's Thunderbolt Display long in the tooth would be an understatement. It's so old that the first Retina display Macs were still a year away when it was new, and it's now easy to get a 4K display for less. At last, though, it looks like Apple might be ready to give its standalone screen an upgrade… with an interesting twist, to boot. Sources for 9to5Mac understand that Apple is building a 5K display that includes its own graphics chipset. It'd be an odd move, but it would let many Macs use the display, not just high-end models. If your Mac's onboard graphics weren't fast enough, it'd automatically switch to the monitor's GPU.
Apple Leak Reveals 'Dual Curve Display' New iPhone (Forbes)
Given the iPhone 7 is shaping up to be a (controversial) disappointment, many are questioning how Apple will respond? Now the answer is becoming increasingly clear: in great style…
Health and Life Sciences
10 Potentially Game-Changing Cancer Immunotherapies You Should Be Following (Fox Business)
There's arguably no scarier diagnosis for a patient to hear than cancer, which is a large reason why oncology is one of the most researched therapeutic indications by today's drugmakers.
In 2014, per IMS Health, global oncology sales tipped the scales at $100 billion for the first time ever. Based on its estimates through 2018, sales could grow an additional 47% to $147 billion.
Exploring the Link Between Estrogen and Migraines (Medicine Net Daily)
A new study finds that for women who get these intense headaches, levels of the hormone estrogen drop more rapidly in the days before menstruation than in women without the headaches.
Life on the Home Planet
Nepal drains dangerous Everest lake (BBC)
Scientists say that is vital to partially drain Lake Imja to stop it from bursting its banks with potentially devastating consequences.
Imja is one of thousands of lakes in the Himalayas formed by the melting of glaciers. But last year's earthquake may further have destabilised it.
Paris floods: Seine set to peak as more rain forecast (BBC)
The world-famous Louvre and Orsay museums have been shut so staff can move priceless artworks to safety.
The number of dead in the floods has now risen to at least 14 – 10 in southern Germany and two each in France and Romania.
Venezuelan Protestors Demand Food in Violent Protest by the Presidential Palace (Time)
A throng of protesters demanding food made a run for the Venezuelan presidential palace Thursday in a rare, apparently spontaneous outburst of anger at the socialist administration within the heart of Caracas.
