Financial Markets and Economy
Stocks are set to hit new all-time highs (Business Insider)
Stocks are set to rise for a fifth straight session and hit new all-time highs as futures rally ahead of the market open on Thursday.
Oil Traders Scrape Bottom of the Barrel to Seek Out New Fortune (Bloomberg)
The world's largest oil traders are scraping the bottom of the barrel in search of their next big opportunity.
Oil bounces after big losses but glut persists (Reuters)
Oil prices recovered more than $1 a barrel from sharp losses on Thursday as the dollar eased but brokers said the downtrend could resume soon as record-high stocks and worries over slowing economic growth dampened sentiment.
U.K.’s New Brexit Czar Sees December 2018 as Likely Leaving Date (Bloomberg)
Britain’s new Brexit Czar argued this week that negotiations on the U.K.’s withdrawal from the European Union could begin around the end of this year, with December 2018 a probable date for departure.
Bank of England Signals August Stimulus as Rate Kept at 0.5% (Bloomberg)
The Bank of England left its key interest rate at a record low and signaled it’s readying stimulus for August as the economy reels from Britain’s decision to quit the European Union.
Gold remains lower after Bank of England stands pat on rates (Market Watch)
Gold prices fell Thursday after the Bank of England surprised the market by opting not to cut benchmark interest rates in the wake of the U.K.’s decision to exit the European Union.
Low interest rates are about to really mess with America’s baby boomers (Quartz)
Boomers in America have had it pretty good. They were born in a time of economic hope and growing prosperity. They paid cheap tuition and faced a job market that didn’t require a college degree. Real GDP growth averaged nearly 3% during their working years. This translated stable career and a healthy stock market in which to park their savings. If they invested $10,00 in a broad stock market index fund in 1971 they’d have $140,000 today, after adjusting for inflation.
Wholesale inflation posts biggest gain in over a year (Market Watch)
U.S. producer prices jumped 0.5% in June — the biggest increase in more than a year — largely owing to higher oil prices and margins for financial services. Yet inflation overall remains muted, a government report shows.
The Japanese yen is tanking (Business Insider)
The Japanese yen is tanking following some buzz that prime minister Shinzo Abe might be thinking about going for helicopter money.
If Wal-Mart Can't Bring Manufacturing Back to America, How Can Trump? (Wall Street Journal)
More and larger trucking companies are failing as fuel prices rebound and demand for freight services remains muted, a new report says.
JPMorgan Profit Beats Estimates on Bond Trading, Loan Growth (Bloomberg)
JPMorgan Chase & Co., the biggest U.S. bank by assets, said second-quarter profit fell 1.4 percent, beating analysts estimates as fixed-income trading revenue and loan growth jumped.
WisdomTree enters proliferating Canadian ETF market because of ‘growth opportunity’ (Financial Post)
American exchange-traded fund provider WisdomTree Investments, Inc. on Thursday became the latest firm to launch ETFs in Canada as the competition for investors in the space heats up.
WisdomTree is one of the top five ETF providers in its home country and has about $40 billion in assets under management globally. It is one of several firms that have announced new ETFs to Canadians this year, including Mackenzie Investments and Sphere Investments.
Politics
In Senator Tim Kaine, Clinton weighs a 'safe' VP pick (Reuters)
U.S. Senator Tim Kaine is widely seen as the "safe choice" to become Hillary Clinton's vice presidential running-mate, and that may be the biggest mark against him.
With a resume that includes a stint as a missionary in Honduras before becoming a civil rights lawyer, Kaine could help Clinton check a lot of boxes in the list of requirements for a running mate.
Donald Trump Will Announce VP Pick Friday, Campaign Chairman Says (Wall Street Journal)
Donald Trump will end his vice presidential search and announce his running mate selection on Friday in New York, his campaign chairman said.
“We will be making an announcement on Friday,” Paul Manafort said during a brief interview in the lobby of the Westin hotel here, after being asked when the presumptive Republican presidential nominee will reveal his choice for vice president. “It will be in New York.”
Technology
Influential consumer magazine urges Tesla disable auto steering (Reuters)
U.S. magazine Consumer Reports on Thursday urged electric car maker Tesla Motors Inc disable the automatic steering function in its Autopilot driving-assist system, which is under investigation by U.S. regulators after a fatal crash.
Health and Life Sciences
Should you try a “natural alternative” before medication? (Science-Based Medicine)
The idea of taking medication can be frightening. And as consumers and patients that want to make our own informed health decisions, it’s understandable and even appropriate to question our physicians when they recommend drug treatments.
Life on the Home Planet
Adding water to dry riverbeds comes with a price (Futurity)
Deliberately flooding riverbeds left parched by dams has great potential to restore wetlands, but may also have a significant unintended consequence: the release of greenhouse gases.
Lockheed’s F-35 Could Be Deployed for Combat This Year If Needed (Bloomberg)
Lockheed Martin Corp.’s next-generation F-35 jet could be deployed on combat missions this year if requested by regional commanders, according to the U.S. general responsible for declaring the system war-ready.
