Financial Markets and Economy
UBS: Don’t be Fooled by Emerging Markets' Winning Streak (Bloomberg)
The 'great migration' into emerging-markets assets should be seen for what it is — a straightforward yield grab, not a vote of confidence in the developing world's growth story.
Here's a quick guide to what traders are talking about right now (Business Insider)
Via Dave Lutz, head of ETFs at JonesTrading, here's a quick guide to what traders are talking about right now: …
Target cuts full-year profit forecast as sales decline (Reuters)
Retail chain Target Corp (TGT.N) cut its fiscal-year profit outlook on Wednesday after quarterly sales fell more than expected, sending its shares down nearly 5 percent.
Stress-test results do little to dampen worries about Italy’s lenders (The Economist)
ANY big announcement about banks made after the markets close for the weekend is bound to bring back dark memories of the 2007-08 financial crisis.
Cisco to lay off about 14,000 employees: tech news site CRN (Reuters)
Cisco Systems Inc is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker's global workforce, technology news site CRN reported, citing sources close to the company.
The world's biggest sovereign wealth fund is sounding the alarm on Britain's property market (Business Insider)
Norway's Global Government Pension Fund, the biggest sovereign wealth fund in the world by assets under management, is sounding a warning about the state of the British property market in the aftermath of the country's vote to leave the European Union.
What? Me Worry? Volatility & The Election (Zero Hedge)
As we contemplate the upcoming U.S. presidential election one of our chief investment related concerns is the potential for the election results to roil markets. Strangely, the equity markets trade as if the election results, be it a Clinton or Trump victory, are inconsequential for share prices.
Kopeck-Pinching as a Monetary Cure for Inflation Hounding Russia (Bloomberg)
The Bank of Russia is on guard should the nation want to go back to its old free-wheeling habits.
Dollar’s Drop Signals Doubts Over Fed Rate Rise (The Wall Street Journal)
Federal Reserve officials are trying to signal that another rate increase is likely while at the same time questioning whether the economy can expand fast enough to justify lifting them much beyond that.
The Aussie dollar is tumbling (The Business Insider)
The currency is down by 0.8% at .7635 per dollar as of 7:51 a.m. ET.
Separately, RBA governor Glenn Stevens told The Australian in an interview why investors are still buying the Aussie currency.
It’s Time For The Stock Market Crash – All Three Major US Indices Have Broken Record Highs (Zero Hedge)
The last time the S&P 500, Dow Jones Industrial Average (DJIA), and NASDAQ closed simultaneously at record highs, each index tumbled for the next 2.5 years: -40.33%, 25.04%, and -75.04%, respectively. Now after the 2008-2009 Financial Crisis, each indexed has recovered and then some, and poised once again to correct in a big way.
Walmart’s acquisition of Jet.com heats up its battle with Amazon (The Economist)
SPENDING $3.3 billion on an unprofitable business might seem an undisciplined splurge. By buying Jet.com, a shopping website, Walmart, the world’s biggest retailer, has joined the ranks of investors betting on so-called “unicorns”, or private startups valued at over $1 billion.
China’s Draft Pipeline Guidelines Seen Boosting Gas Demand (Bloomberg)
China’s latest attempts at reforming the country’s extensive pipeline network are aimed at lowering prices for end users and boosting gas demand, analysts said Wednesday after the country released draft guidelines.
Could Even Central Banks Be Using Bitcoin? (Zero Hedge)
I am really excited to bring this conversation to you since in just the last month the cryptocurrency space has experienced two hacks: one to the Ethereum network and one to a crypto currency exchange Bitfinex.
Politics
Donald Trump, in Shake-Up, Hires Breitbart Executive for Top Campaign Post (NY Times)
LAS VEGAS — Donald J. Trump has shaken up his presidential campaign for the second time in two months, hiring a top executive from the conservative website Breitbart News and promoting a senior adviser in an effort to right his faltering campaign.
Obama to take trade battle to the heartland (Politico)
President Barack Obama is taking the fight for the Trans-Pacific Partnership trade deal to America’s streets — directly countering the fusillades from Donald Trump and, increasingly, from Hillary Clinton.
The Atlantic Politics & Policy Daily: Hillary Clinton Assembles Her Squad (The Atlantic)
The Democratic nominee appointed several high-profile new members to her White House transition team.
Technology
Microsoft is bringing Windows Holographic to all Windows 10 PCs (Mashable Asia)
The software that powers Microsoft's HoloLens will soon be able to run on any Windows 10 PC.
Estream is a Personal Hydroelectric Generator for Charging your Gadgets (Digital Trends)
Hydropower, once used by farmers in ancient Greece to grind grain, is today employed at such iconic locales as the Hoover Dam in Nevada and the monolithic Three Gorges Dam in China to produce electricity.
Health and Life Sciences
Microbeads could be turning the fish we eat toxic, study finds (Science Alert)
Scientists have found worrying evidence that fish are becoming toxic, as their environments are being polluted with billions of microbeads – the tiny plastic particles commonly found in face scrubs, body wash, and other cosmetics.
This new technique will help NASA search for Martian life in 2020 (Science Alert)
Scientists have come up with a new tool for identifying which Martian rocks are more likely than others to hold signs of ancient life.
The Futility of the Workout-Sit Cycle (The Atlantic)
In April, the AARP asked me to help moderate an international meeting of 15 exercise scientists in Vancouver. Their goal was to write a consensus statement about how best to use exercise to promote health (specifically “brain health”).
Life on the Home Planet
Maria Sharapova’s Two-Year Ban From Tennis, Explained (Think Progress)
Five-time Grand Slam champion Maria Sharapova has been banned from tennis for two years by the International Tennis Federation (ITF) for her use of meldonium, a substance that just went on the World Anti-Doping Agency (WADA) Prohibited Substances list in January.
David’s Ankles: How Imperfections Could Bring Down the World’s Most Perfect Statue (NY Times)
Last summer, early in the morning, I stood out in the main square of Florence to watch the tourists come in. It was quiet. A Zamboni-like street cleaner drove its rounds, leaving wet circles on the paving stones.
Hacks For Dealing With Your Closetful Of Apple Boxes (The New Yorker)
We know you love them as much as we do—Apple-product boxes are the mother of all boxes. Just feel how tight those corners are.
