Financial Markets and Economy
Oil Up on Saudi Commitment to Cut; U.S. Output Seen Rising (Reuters)
Oil prices settled up on Monday, as Saudi Arabia's commitments to reducing production offset a report forecasting U.S. output would again rise this year.
Italy will be the next big problem in Europe (Business Insider)
As a new year begins, we look at a key forecast that will bridge 2016 and 2017: the Italian banking crisis. In Geopolitical Futures’ 2016 forecast, we said that the focal point of Europe’s financial crisis would shift from Greece to the Italian banking system.
Portugal Bonds Falter as ECB Running Out of Eligible Debt to Buy (Bloomberg)
The central bank’s holdings of Portugal’s debt are already pushing the limit set by its own guidelines, leaving it likely to buy less this year to avoid breaking those rules. That prospect has led to a selloff in Portuguese government bonds, with 10-year yields having risen almost 40 basis points since the ECB’s December meeting to hit an 11-month high last week.
New Highs For Goldman And JPMorgan Aren't Enough To Propel Dow Above 20,000 (Forbes)
The Dow Jones Industrial Average reached a rounded-up 20,000 when it traded as high as 19,999.63 on January 6. Wall Street and financial media thus ended last week disappointed as they have been since December 13. It appears that Dow 20,000 is a strong technical resistance.
Italy’s Downgrade Is No Buying Opportunity (The Wall Street Journal)
Ratings downgrades can be cathartic events for markets, marking a buying opportunity for bond investors. Italy’s downgrade by DBRS isn’t one of them.
Asia stocks and pound weak, brace for May's speech on Brexit stance (Reuters)
Asian stocks and the pound sagged on Tuesday as investors waited for British Prime Minister Theresa May to lay out plans to exit the European Union, which traders fear will see Britain lose access to the bloc's single market.
Saudi to launch $30-50 billion renewable energy program soon: minister (Reuters)
Saudi Arabia will launch in coming weeks a renewable energy program that is expected to involve investment of between $30 billion and $50 billion by 2023, Saudi Energy Minister Khalid al-Falih said on Monday.
Mark Carney discusses inflation and the economy as pound plunges (The Telegraph)
Mark Carney has suggested interest rates could go up or down as the Bank of England strikes a difficult balance between supporting growth and managing inflation.
Trump, Fed Headed for Clash Amid Dollar Surge, Economists Say (Bloomberg)
Donald Trump and the U.S. Federal Reserve are heading for a collision that will almost certainly result in a stronger dollar, two leading economists said.
China suspends plans for 85 coal power plants (Engadget)
China is taking some steps to curb pollution (it doesn't have much choice), but one of its most recent steps may be more of a happy accident. The country's National Energy Administration is suspending 85 planned or in-progress coal power plants — not because they're threats to the environment and public health (which they are), but because they don't fit in with China's latest Five Year Plan.
Could This Study Could Be Disastrous for Marijuana Stocks? (Fool.com)
Marijuana stocks are sizzling hot as the new year begins. However, a study Opens a New Window. just released by the National Academies of Sciences, Engineering, and Medicine slams many of the purported benefits of marijuana.
Rare Gold Anomaly – an Event So Rare, It's Only Happened Twice in 20 Years (Money Morning)
The first time it created $1.25 billion in new wealth virtually overnight. The second time, it created a cash windfall of $6 billion – both times making in-the-know investors flat-out millionaires.
Singapore’s Export Growth Beats Forecasts for Second Month (Bloomberg)
Singapore’s exports surged above economists’ forecasts for a second consecutive month, signaling a recovery in the trade-dependent economy.
Survey: People’s Trust Has Declined in Business, Media, Government, and NGOs (Harvard Business Review)
We are living in an era of backlash against authority. So far, government and the media have borne the brunt of populist anger, while businesses have remained above the fray.
IMF Downplays Trump Stimulus Effect; Slashes Saudi, Mexico Growth In Latest World Economic Outlook (Zero Hedge)
As the world's elite gather in Davos to decide for the minions what the world should look like, The IMF has taken a far dimmer view of global (and by that we mean Trumpian) economic growth than markets appear to be.
Goldman Is Concerned: "The S&P Has Surged 6% Since The Election But 2017 EPS Forecasts Haven't Budged" (Zero Hedge)
As chief strategist David Kostin writes in his latest weekly kickstart, while stocks have surged by 6% since the election on the prospect of higher earnings under potential Trump policies, consensus bottom-up 2017 EPS forecasts for S&P 500 have been unchanged.
Companies
The 1 Thing Frontier Has to Prove in 2017 (Fool.com)
Frontier Communications (NASDAQ: FTR) went through a major transformation in 2016, spending $10.54 billion to buy Verizon's (NYSE: VZ) wireline operations in California, Texas, and Florida (CTF).
China's largest Rare Earth Firm Expects Profit Plunge (InfoWars)
China Northern Rare Earth (Group) High-tech Co., Ltd., the country’s largest rare earth miner and producer, expected its net profits to plunge in 2016 as demand sagged, prices faltered while production costs rose.
Rolls-Royce Reaches $809 Million Settlement Over Bribery Probes (Reuters)
British engineering group Rolls -Royce Plc (RYCEY, -2.68%) said on Monday that it had reached settlements with authorities in Britain, the U.S. and Brazil relating to bribery and corruption involving intermediaries, which would result in a series of payments totaling about $809 million.
This not-at-all creepy startup wants to inject you with millennial blood for $8,000 (TNW)
If Jesse Karmazin is right, injecting you with the blood of the young is the key to slowing aging. If he’s wrong, you’ll still be old, but $8,000 poorer. And either way the story goes, you’ll technically be a vampire — so, there’s that.
Technology
AT&T denies refunds for DirecTV Now customers, despite the service’s performance issues (Tech Crunch)
A number of consumers report they’re unable to get a refund for their subscription to AT&T’s recently launched streaming service, DirecTV Now – something they’ve requested after being unhappy with the new service’s performance.
Ford Kuga SUVs Recalled After Spontaneously Bursting Into Flames (Fortune)
U.S. automaker Ford Motor will recall 4,500 Kuga SUVs sold in South Africa after dozens of reports of the vehicles catching fire spontaneously, the head of the company's South Africa unit said on Monday.
Intel wants sensors to help you with your shopping (Engadget)
As quickly as technology is reinventing your shopping experience, Intel doesn't think it's moving quickly enough. The chip giant is launching a Responsive Retail Platform that creates a common set of sensors, software kits and other components for in-store tech.
You May Soon Be Able To Pay For Things With Google Assistant (Digital Trends)
It looks like Google wants to make Google Assistant even more useful. How? By allowing users to pay for things simply by using their voice — according to an updated version of the Google App, anyway.
As Robots Take Jobs, Europeans Mull Free Money For All (Associated Press)
The radical notion that governments should hand out free money to everyone — rich and poor, those who work and those who don't — is slowly but surely gaining ground in Europe. Yes, you read that right: a guaranteed monthly living allowance, no strings attached.
This implantable micro-machine can deliver medications from inside the body (Science Alert)
Scientists have developed a bio-compatible micro-machine capable of being implanted inside the body, where it could act as a wireless medical device to deliver drugs directly under the skin.
Politics
3 Big Trends Global Leaders Will Be Talking About in Davos This Year (Fortune)
The World Economic Forum might soon be receiving an early morning tweetstorm from Donald Trump.
Here’s Why Donald Trump’s Cabinet Might Not Be So Bad (Fortune)
This morning, a pointed message from a business sage who has proven himself—yet again—worth listening to.
Former Fed Chair Ben Bernanke: Donald Trump’s Perceptions of the Yuan ‘Don’t Fit With Reality’ (Fortune)
Trump has previously accused of manipulating the yuan to gain trade advantages over other nations and has threatened to introduce a 45% tariff on Chinese exports into America.
From Obama to Trump: An inside look at the transfer of power in the U.S. government (The Globe And Mail)
The transfer of control over the sprawling U.S. government from one administration to the next is a hallmark of American democracy. It’s also a daunting logistical challenge that requires months of planning and complex choreography on inauguration day, when Mr. Trump will be sworn in as the 45th president of the United States and Barack Obama will leave office.
Trump’s Plan To Neuter The White House Press Corps And Neuter Our Democracy (The Huffington Post)
Tyrants don’t allow open questioning, and they hate the free press. They want total control.
That’s why, according to three senior officials on the transition team, the incoming Trump administration is considering evicting the White House press corps from the press room inside the White House and moving them – and news conferences – to a conference center or to the Old Executive Office Building.
Britain Expected To Announce Snap Elections In Northern Ireland (Newsweek)
Deputy First Minister Martin McGuinness, of the republican Sinn Fein party, stepped down last week in protest at Democratic Unionist Party (DUP) First Minister Arlene Foster’s handling of a scandal arising from a botched renewable energy scheme.
The Media Sucks, But It Still Should Stay In The White House (The Huffington Post)
One: Americans have lost faith in the press. Two: Much of that faith was drained away either by the press’s own mistakes, or by economic and technological changes that (so far) have done more to undermine the press’s credibility than to enhance it.
Trump’s divided state of America (Politico)
Donald Trump has done more since being elected to court Vladimir Putin than the 74 million Americans who voted for other presidential candidates—or the tens of millions who didn't vote at all.
Trump, Price and Hill GOP at odds on Obamacare (Politico)
Donald Trump and his pick to lead the Obamacare repeal effort, Rep. Tom Price, share a vision that the current health care system needs to be completely uprooted.
Health and Biotech
How Illumina Plans to Change Medicine Forever (Fool.com)
The more than 7,500 gene sequencing machines deployed at its clients are already reshaping drug discovery, but Illumina's (NASDAQ: ILMN) latest advance in gene sequencing could lead to explosive growth in personalized medicine.
Scientists Have Proven That Negativity Literally Makes Cancer Grow Inside The Body (Healthy Life Happiness)
Before we start with this article I would like to ask you a simple question – have you felt hurt or betrayed; have you ever been so bitter and upset towards a situation or person that you could not imagine forgiving them?
Antibody can protect brains from the ageing effects of old blood (New Scientist)
Old blood may have a powerful effect, damaging organs and contributing to ageing. Now a compound has been developed that seems to protect against this, preventing mice’s brains from ageing.
Life on the Home Planet
Istanbul New Year's nightclub attacker caught: media reports (Reuters)
The gunman suspected of killing 39 people in an Istanbul nightclub on New Year's Day has been caught by police in the city's Esenyurt district, the Hurriyet newspaper website and other media reports said on Tuesday.
ISIS Is Dropping Bombs With Drones In Iraq (Popular Science)
The latest bomber to make its debut over Iraq has four engines, no cockpit, and a flight time limited by the length of its battery. ISIS, the radical insurgent group holding territory in both Syria and Iraq, is fighting for its life in Mosul, the large city in Northern Iraq it has held since 2014.
We've never seen global sea ice levels this low before (Engadget)
The world climate has passed another troubling milestone this year: global sea ice levels are at the lowest level ever recorded. New research from the US National Snow & Ice Data Center in Boulder, Colorado indicates that the normal winter buildup of floating ice around the arctic simply isn't happening this year, though it might not be exclusively because of global warming.
