Financial Markets and Economy
The government needs to spend a lot of money on something even less sexy than highways (Business Insider)
The push for fiscal stimulus is beginning to gain steam. Top finance names, both presidential candidates, and financial institutions' strategists are all on board for more government spending.
More Stock Losses Tipped for Asia on Europe Angst; Oil Below $47 (Bloomberg)
Asian index futures signaled further declines as concern over the impact of a potential European slowdown on global growth took hold. Oil was below $47 a barrel, while demand for safer investments kept the yen near its strongest level this month.
Investors Look to Earnings, Oil for Gains in U.S. Stocks (Wall Street Journal)
For the Dow Jones Industrial Average, it’s keep calm and carry on.
New Study Claims Corporate Executives Intentionally Mislead Investors for Personal Gain (Bloomberg)
It won't surprise any market-watcher to learn that in the run-up to earnings season, companies tend to lower the bar for top and bottom line performance, thereby giving themselves better odds of exceeding analysts' expectations.
Hedge Funds Set for Worst First Half Since ’11 on Turmoil (Bloomberg)
The first six months of the year is turning out to be a period hedge fund managers want to forget.
Chevron Approves $37 Billion Expansion of Kazakh Oil Field (NY Times)
Bucking the trend of conserving cash at a time of low oil prices, the American oil giant Chevron said on Tuesday that it would go ahead with a $37 billion expansion of a gargantuan oil field on the Caspian Sea in Kazakhstan.
Silver Goes Ballistic (Stock Charts)
Since Brexit, Silver has rallied significantly and Monday, July 4th is no exception.
An $8 billion hedge fund suddenly imploded — here's how it played out (Business Insider)
Visium Asset Management, a one-time rising hedge fund, is shutting down after its former employees were charged with insider trading and fraud.
China's $5 Trillion Opportunity (Bloomberg View)
Most metal detectors in China share a curious trait: The alarm goes off no matter what. You can have emptied your pocket of every last coin, and the thing still sounds. Then there are usually two young women waiting to screen you with hand-held detectors that do seem to work.
Tesla Did Not Disclose Autopilot Death Before $2 Billion Stock Sale (Jalopink)
Joshua Brown fatally crashed into a tractor trailer turning in front of his Tesla Model S on autopilot almost exactly two months ago, but we only found out about it on Thursday evening. That’s when Tesla first told the public about the crash, nearly two months after they sold $2 billion in stock.
Things just got a lot 'messier' for Africa's largest oil producer (Business Insider)
Angola announced last week that it wants to discontinue talks with the International Monetary Policy Fund about getting a loan.
Brexit Accelerates the British Pound’s 100 Years of Debasement (Bloomberg)
In 1967, U.K. Prime Minister Harold Wilson declared devaluation wouldn’t diminish the “pound in your pocket.” Chancellor of the Exchequer Norman Lamont admitted he was heard “singing in the bath” after sterling’s link to the deutsche mark was severed in 1992, sending the currency tumbling.
Even Apple might feel the effects of Brexit (Business Insider)
Citi issued a note on Tuesday in which it said it is cutting its projections for Apple's sales and margins when it reports earnings later this quarter.
Germany signals rethink on Europe post-Brexit (Irish Times)
Wolfgang Schäuble, the 73-year-old elder statesman of German and European politics, has demonstrated time and again that when it comes to putting the cat among the pigeons youthful energy is no substitute for political wiles.
Deutsche Bank Shares Hit Over 30-Year Low After Fed, IMF Rebuke (The Street)
It’s a superlative Deutsche Bank AG could have done without.
First, Find the World’s Biggest Diamonds. Then Don’t Break Them. (Bloomberg)
A black-and-yellow dump truck rumbles up from a giant pit in the mountains of southern Africa, carrying a load of freshly blasted slate-gray rock from the Letseng mine. With luck it will contain a golf-ball sized diamond worth perhaps $20 million.
Politics
Sorry, Republicans. Clinton's E-Mails Won't Take Her Down. (Bloomberg View)
FBI Director James Comey held a press conference this morning to announce the results of an investigation into Hillary Clinton’s private e-mail server. Sorry — make that "servers," for one of the revelations of today’s announcement was that there was actually more than one server, more than one administrator, and an attitude towards data handling and records preservation that was, to say the least, breathtakingly insouciant.
Donald Trump's Social Media Ties To White Supremacist (Mic)
Donald Trump tweeted a meme Saturday that used dog-whistle anti-Semitism to announce that his political rival, "Crooked Hillary," had "made history."
Technology
Thieves Go High-Tech to Steal Cars (Wall Street Journal)
Police and car insurers say thieves are using laptop computers to hack into late-model cars’ electronic ignitions to steal the vehicles, raising alarms about the auto industry’s greater use of computer controls.
I tried 'hyper reality' for the first time and was blown away (Business Insider)
I couldn't stop laughing every time Dave shot me.
With each proton blast to the chest, a wave of vibrations would ripple across my torso. And because I've been such a sensitive weenie my entire life, I giggled uncontrollably.
Health and Life Sciences
XBiotech Cancer Drug Survival Claim Falls Apart Under Scrutiny (The Street)
Plenty of nonsensical, borderline crazy, excuses have been made for bad clinical trial results in my 15 years covering biotech, but XBiotech (XBIT) may have won the grand prize Saturday.
FDA Approves First Dissolving Stent For US Patients (AP)
A medical implant that slowly dissolves into the body could be the answer to long-standing safety concerns with devices used to treat clogged arteries.
This Is What Happened To My Brain When I Spent More Time In Nature (Fast Company)
It's a refrain that kids have heard from their parents for generations: "Go outside and play. It’ll be good for you." Little did we know as children how valuable that advice was. Science has shown that parental wisdom to be more accurate than we realized. Study after study after study has now shown that there are multiple health benefits to spending time in nature.
Life on the Home Planet
Deep-sea alliance set to probe Earth’s final frontier (New Scientist)
The deep sea is about to yield more of its secrets. The Nekton alliance, launched this week, brings together more than 30 international organisations from the fields of science, technology and business to try to learn more about Earth’s final frontier.
‘Welcome to hell’: Violence rocks Rio a month before Olympics (The Washington)
A month before Rio de Janeiro hosts South America’s first Olympic Games, two cellphone videos have brought home the grim reality of rising violence in the city's teeming favelas — the poor communities that are home to almost a quarter of its population.
