Financial Markets and Economy
Treasuries Whipsaw as Fed Minutes Focus on Fiscal Policy, Dollar (Bloomberg)
Treasuries whipsawed between gains and losses after minutes from the Federal Reserve’s December meeting showed officials focused on a gradual pace of interest-rate hikes, while seeing risks stemming from fiscal policy spurring faster economic growth and a stronger dollar providing a headwind.
Asia Stocks Seen Up, Dollar Falls on Fed Minutes: Markets Wrap (Bloomberg)
Asian futures indicated regional benchmarks will track U.S. stocks higher after minutes from the Federal Reserve’s last meeting showed officials favored more gradual interest-rate increases.
Singapore to Deliver New Growth Map With Economy Under Strain (Bloomberg)
The Committee on the Future Economy will publish its recommendations in a few weeks time, Prime Minister Lee Hsien Loong said in his New Year Message, days before the government reported that growth slumped to a seven-year low in 2016.
China Sets Sights on Another Skeptic-Defying Year (Bloomberg)
After defying skeptics with solid growth last year, China aims to do the same again in 2017.
Emerging-Market Currencies, Stocks Advance With Commodities (Bloomberg)
Emerging-market currencies and stocks advanced as a rally in commodities bolstered the outlook for raw-material exporters.
Canadian oil firm Encana issues rosy 2017 forecast (The Wall Sttreet Journal)
Energy producer Encana Corp. said Wednesday that results in 2017 will exceed its forecast released just a few months ago as the company continues to cut costs and boost oil and gas production volumes.
The US dollar has been on a roll since President-elect Donald Trump's win in early November.
Car sales set another U.S. record (CNN Money)
The record was aided by the number of older cars on the road, improved economic conditions, easy credit, compelling product and Millennials aging and buying cars.
Vancouver Home Prices Climb 18% in 2016 on Meager New Listings (Bloomberg)
Vancouver housing prices climbed 18 percent last year and sales were the third highest on record, a gain that prompted governments to set tougher rules to prevent a crash.
Stocks climbed early on Wednesday, and then picked up a bit more speed in the afternoon following the release of the December Fed minutes.
Fed Officials See Gradual Rate Hikes as Upside Risks Debated (Bloomberg)
Federal Reserve officials focused on the impact of potential fiscal stimulus during their December policy meeting, with many starting to worry that the central bank might eventually be forced to quicken the pace of interest-rate increases to head off higher inflation.
Bitcoin Hits All-Time High as Currency Controls Drive Fear (Bloomberg)
Bitcoin hit an all-time high Wednesday, according to Bloomberg data, thanks to continued adoption in China and other parts of the world where traditional currencies are tightly controlled.
How higher oil prices buy Saudi rulers breathing room (Market Watch)
Compare and contrast Saudi Arabia’s 2017 budget with 2016 and it’s clear the kingdom has plenty of incentive to ensure the Organization of the Petroleum Exporting Countries and other major producers stick to output curbs agreed to last year.
Big banks counting on love from Trump and Fed (CNN Money)
Bank stocks soared after Donald Trump's victory in November. And the sector is off to a hot start in 2017 as investors continue to bet on an unwinding of some of President Obama's Wall Street reforms and more rate hikes from the Federal Reserve.
The UBI already exists for the 1% (Matt Bruenig, Medium)
The universal basic income — a cash payment made to every individual in the country — has been critiqued recently by some commentators. Among other things, these writers dislike the fact that a UBI would deliver individuals income in a way that is divorced from working.
Here’s Why the Federal Reserve Is Worried About Donald Trump (Fortune)
Donald Trump isn't president yet. But he's already having an influence on the Federal Reserve, and it's not a reassuring one.
Companies
Macy’s Declines After Reducing Outlook, Moving to Cut 6,200 Jobs (Bloomberg)
Macy’s Inc., the largest department-store company in the U.S., plunged in late trading after cutting its earnings outlook and vowing to eliminate 6,200 jobs, or about 4 percent of its workforce.
Coca-Cola, ABA Accused of Tobacco-Like Deception in Lawsuit (Bloomberg)
Coca-Cola Co. was sued by activists who compare the beverage giant’s advertising tactics to the tobacco industry’s past efforts in minimizing the health effects of its products and targeting children to replenish the ranks of its customers.
Twitter Co-Founder Ev Williams’ Medium Cuts One-Third of Staff (Bloomberg)
The company, which has raised $132 million in venture capital from investors including Greylock Partners and Andreessen Horowitz, relied on the same model as other media companies to make money: placing ads on articles.
Google Moves Into Augmented Reality Shopping With BMW and Gap (Bloomberg)
Google is rolling out a real world application for its most ambitious virtual reality effort: letting shoppers see what they might buy without leaving home.
Technology
Apple Pulls New York Times App From China Store (The Wall Street Journal)
Apple Inc. has removed the New York Times from its app store in China, following a request from Chinese authorities.
AT&T brings wireless connectivity to Aira wearables for the blind (Venture Beat)
AT&T is diving further in promulgating the Internet of Things. On Wednesday, the telecommunications company announced a partnership with Aira to provide wireless connectivity to wearables for the blind and visually impaired.
Samsung debuts new Chromebooks, appliances at CES 2017 (CNN)
It was the company's first big event since the Galaxy Note 7 recall, which cost the firm billions after phones began exploding. Tim Baxter, president and COO of Samsung Electronics America, said at the beginning of the press event that the company will release its report from the Note 7 investigation soon.
LG unveils Hub Robot to compete with Amazon Echo and Google Home (The Guardian)
LG unveiled its own competitor to Amazon Echo and Google Home on Wednesday – a home assistant that can play music and tell you the weather but also order your vacuum cleaner to start cleaning the house and turn on your oven.
AT&T to do real-life 5G trial with DirecTV Now in Austin (CNet)
The Dallas-based wireless and broadband company said the $35-a-month internet streaming service, which offers an alternative to traditional cable and satellite TV services, will use a fixed 5G wireless connection instead of AT&T's 4G mobile network.
HTC shows off the Vive Tracker to bring objects and tools into VR (Tech Crunch)
After months of creative developers building cool virtual reality devices that relied on HTC Vive controllers duck taped to them, HTC has introduced a cool peripheral called the Vive Tracker to allow objects to be tracked in VR.
GoPro’s recalled Karma drone gets new life (The Wall Street Journal)
GoPro Inc. is giving its drone another chance to take flight.
The company Wednesday said this year it will resume sales of the Karma, a key component in the company’s plan to diversify beyond action cameras.
Sony's Entry To The OLED Market Seeks To Impress Everyone With Unparalleled Design (Digital Trends)
For years now, LG has been the only OLED game in town, but that changed today at Sony’s CES 2017 press conference with the official introduction of the rumored XBR-A1E Bravia OLED TV.
Netgear's smart baby monitor is more than a walkie-talkie (Engadget)
After decades of success in the networking market, Netgear is taking its first steps into infant security. Following the release of its Arlo surveillance cameras, this year will see the company producing its first baby monitor, the Arlo Baby.
Politics
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Trump’s “if you like your insurance, you can keep it” moment (Vox)
On Monday, Trump adviser Kellyanne Conway was on Morning Joe and was asked about Obamacare. Her recitation of her boss’s position likely filled congressional Republicans with dread.
Sanders Throws Gauntlet At Trump: Keep Your Promise Or Admit You Lied! (Crook And Liars)
Bernie Sanders took to the Senate floor today to challenge President-elect Trump to keep his campaign promises or admit he lied to those who voted for Trump.
What Trump can learn from Rex Tillerson, his secretary of state pick (CNN Money)
If Rex Tillerson can do it, maybe Donald Trump can too.
Trump's pick for secretary of state has a plan to deal with any conflicts of interest if he's confirmed by the senate.
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Trump adds Goldman Sachs lawyer to his Wall Street dream team (Vox)
Donald Trump’s transition team announced Wednesday morning that Jay Clayton, a veteran Wall Street lawyer, will serve as the new chair of the Securities and Exchange Commission. Clayton works for, among other clients, Goldman Sachs.
Government names new chief to lead crackdown on worker exploitation (The Guardian)
The government has moved to crack down on unscrupulous employers by appointing a new boss to lead the collection of government bodies tasked with stamping out exploitation in the workplace.
Trump sides with Assange, Russia over U.S. intelligence (Politico)
President-elect Donald Trump is freshly questioning U.S. intelligence assessments of election-season hacking, appearing to side instead with WikiLeaks founder Julian Assange and Russia in comments that are rattling the American spy world as well as many of his fellow Republicans.
Democrats Look At The 2018 Map And Get Ready To Fight For The Filibuster (The Huffington Post)
The outcome of the 2016 election shocked and worried Democrats across the country. Unfortunately for them, there may be worse to come in the 2018 midterm elections.
Donald Trump’s Pick For Secretary Of State Tries To Allay Senators’ Concerns About His Russia Ties (The Huffington Post)
WASHINGTON – Former Exxon Mobil chief executive Rex Tillerson attempted to alleviate concerns about his past ties with Russia during a series of meetings with senators from both parties on Wednesday.
Health and Biotech
Research data, missing for decades, raise concerns on morning sickness drug (Stat News)
The only FDA-approved drug for morning sickness, taken by some 33 million women worldwide since the 1950s, has had a history of ups and downs. A new study adds further uncertainty about the drug.
IVF pregnancy less successful with two embryos, study finds (The Guardian)
Implanting two embryos during IVF can cut the chance of becoming pregnant by more than a quarter if one of the embryos is in a poorer state of health, new research suggests.
Simple blood test can detect genetic diseases early in pregnancy (New Scientist)
The test for single-gene disorders, which are collectively more common than Down’s syndrome, could become available within five years. This would enable prospective parents to choose whether to proceed with a pregnancy if conditions like muscular dystrophy or Huntington’s disease are detected.
Life on the Home Planet
China's smog has gotten so bad, it's almost impossible to see skyscrapers from the air (Business Insider)
As of Wednesday, Beijing was under a "red alert" for smog — the highest of four levels — and a "yellow alert" for fog. Other areas, particularly in northern China were still under red alert as of Wednesday for both fog and smog.
NASA announces two missions to explore distant asteroids (The Wall Street Journal)
NASA officials set their sights on asteroids Wednesday, announcing plans to launch two $500 million interplanetary probes targeted at these relics from the creation of the solar system.
Global Warming Data That Riled Doubters Is Confirmed (Associated Press)
WASHINGTON — A new independent study shows no pause in global warming, confirming a set of temperature readings adjusted by U.S. government scientists that some who reject mainstream climate science have questioned.
The Global Warming Hiatus Never Actually Happened (Popular Science)
A study published Wednesday in Science Advances confirms once again that there was no global warming hiatus or cooling period during the past 20 years, an idea that had previously been raised in earlier assessments of sea surface temperature data.
Scientists search for aliens in galaxy sending weird radio signals (CNet)
Our first contact from aliens probably won't be as simple as the 1997 movie "Contact," where Jodie Foster listens for otherworldly signals at the Very Large Array (VLA) in New Mexico.
However, there is a teeny, tiny chance it does start at the VLA.
