Financial Markets and Economy
Oil Advances for Third Week as U.S. Imposes New Iran Sanctions (Bloomberg)
Oil capped a third weekly gain as the U.S. imposed fresh sanctions on Iran after a missile test and OPEC reached about 60 percent of its output-cut target.
Trader May Have Netted $20 Million on Fed Policy Bet (Bloomberg)
The market for U.S. short-term interest rates has been abuzz this week with talk of a hawkish bet on Federal Reserve policy that may have netted a profit of more than $20 million.
Treasuries Erase Gains Spurred by Weak Wage Growth (Bloomberg)
Treasuries were lower in late trading Friday after erasing gains sparked by January’s employment report, which showed a smaller-than-expected increase in average hourly earnings even as non-farm payrolls rose more than forecast.
President Donald Trump just signed an executive order that could roll back the Obama administration's landmark retirement savings rule.
Slowdown in Wage Gains Muddies Picture of Tight U.S. Job Market (Bloomberg)
Just when the U.S. labor market looked like it was getting tight, worker paychecks are giving more of a mixed picture.
Three Ways to Protect Your 401(k) If Trump Kills the Fiduciary Rule (Bloomberg)
A new move by President Donald Trump may mean higher costs for individual investors and retirement plans, especially 401(k)s offered by small businesses. The good news, though, is that you can protect yourself against his order, which delays and reconsiders the so-called fiduciary rule, if you ask the right questions.
Stock rally masks heightened risk in late leg of cycle (Market Watch)
It may be hard for investors to admit it, but the post-election rally in U.S. stocks comes at a cost—it’s masking a sudden rise in the market’s heightened risk profile, according to analysts.
El-Erian Says Disappointing Wage Figure Cuts Chance of Fed Hike (Bloomberg)
Mohamed El-Erian, Allianz SE’s chief economic adviser, said lackluster wage growth in the U.S. may prompt the Federal Reserve to pause before raising interest rates again, while adding pressure on lawmakers to make sure that more Americans benefit from economic expansion.
Investors, rejoice: U.S. stocks are easily shaking off bad news (Market Watch)
Stocks took only a single session to digest the ostensibly bad news about the Trump administration's immigration ban. They then began to rebound, led by the de factoleading index, the Nasdaq Composite COMP, +0.54%
Here's how much money Americans could save — or lose — under Trump's tax plan (Business Insider)
President Donald Trump vowed throughout his campaign that he'd overhaul the US tax system, simplifying it and putting money back in the pockets of American citizens.
Currency Volatility on Trump’s Tweets Fades as Traders ‘Bored’ (Bloomberg)
Falling volatility in currency markets suggests traders are getting used to the rhetoric in U.S. President Donald Trump’s tweets.
Why Stock Market Volatility Isn't Really as Low as It Appears (Bloomberg)
Correlation, it’s sometimes said, equals volatility. An index can’t swing very much unless a lot of its members are going the same way.
The wave of Wall Street deregulation is upon us.
With the stroke of a pen, President Trump has potentially started the unwinding of many of the hallmark financial regulations of the Obama administration.
Growth in U.S. Services Industries Was Steady in January (Bloomberg)
America’s service industries expanded in January at about the same pace as in the previous month, indicating resilience in the biggest part of the economy.
Fed Should Go Slow to Avoid Return to Zero Rates, Evans Says (Bloomberg)
Federal Reserve policy makers should be slow to raise interest rates to protect against downside risks to the U.S. economy that might force them to reverse course, said Chicago Fed President Charles Evans.
Elizabeth Warren to Trump's $285 million Goldman Sachs man: Recuse yourself (CNN)
Ethics experts, and now two U.S. senators, are also concerned about Goldman's willingness to accelerate Cohn's payouts.
Job report’s downside: slower wage growth (Market Watch)
After accelerating for most of the past two years, wage increases for American workers have leveled off, at least temporarily.
Companies
Wells Fargo Quants Tell You How to Bet on the Super Bowl (Bloomberg)
Wells Fargo Asset Management’s Analytic Investors LLC, the Wall Street quant shop that has accurately predicted 10 of the last 13 Super Bowls against the point spread, says take the Atlanta Falcons and the three points over Tom Brady, Bill Belichick and the New England Patriots.
America's Biggest Asphalt Plant Is Shutting When the Country Might Need It Most (Bloomberg)
Axeon Specialty Products LLC is shuttering the U.S. largest asphalt refinery when the country might need it the most.
ICE Hires Consultant to Review How Brent Oil Prices Are Calculated (Bloomberg)
The exchange that’s home to Brent crude futures hired a consultant to discuss with traders, banks and other market participants measures to revamp how North Sea oil prices are calculated.
Amazon Projects Spending That Concerns Those Watching Profit (Bloomberg)
Amazon.com Inc. will spend big in the coming months on warehouses, movies, gadgets and growth into India, renewing investor concerns that Chief Executive Officer Jeff Bezos cares more about generating revenue far in the future than turning a profit now.
Company that Trump bashed isn't backing down (CNN)
Donald Trump bashed Eaton, an industrial conglomerate with its roots in Cleveland, on the campaign trail because it merged with an Irish company a few years ago and then moved its headquarters out of Ohio to Dublin, Ireland.
Google is selling its $500 million satellite company to a startup (Business Insider)
Terra Bella, the satellite imaging company that Google bought about two years ago for $500 million, will be sold to mapping startup Planet Labs, the companies announced Friday.
Macy's may be bought by owner of Saks and Lord & Taylor (CNN)
Macy's stock soared 10% Friday after the Wall Street Journal reported that Hudson's Bay, the Toronto and New York-based parent company of Lord & Taylor and Saks Fifth Avenue, might be interested in buying the iconic retailer.
Technology
Defective Air Bags Found in Repaired BMWs, Spurring Fresh Recall (Bloomberg)
BMW AG is recalling about 230,000 vehicles in the U.S. after discovering that some may have been fitted with defective Takata Corp. air-bag inflators during repairs, such as after a crash in which the devices deployed.
Apple offers a $199 app bundle for education with Final Cut and Logic (Tech Crunch)
While any Mac user can play with GarageBand and iMovie for free, it has been quite expensive if you wanted to move to pro apps — especially if you’re a student. Apple released a new app bundle with five different pro apps. It costs $199.99 and it’s just for students and people working in education.
Vodafone abandons its pay-TV plans (Engadget)
In a fairly predictable move, Vodafone has said it's all but deserted plans to launch a pay-TV service in the UK. The company has barely touched on its televisual ambitions since announcing in spring 2015 that it expected to have something ready before the end of that year.
How do you beat fake news? Transparency, says Wikipedia co-founder (CNet)
This is the suggestion of Wikipedia co-founder Jimmy Wales in a guest column Friday in The Guardian. He suggests the human element is crucial to discerning false from factual stories — enhanced formulas for social networks and other aggregator sites to weed out fake news aren't enough.
Politics
Divided on Trump, EU insists on European unity (Reuters)
European Union leaders said they agreed to stick together in dealing with Donald Trump, but at their first summit since he took office they were at odds on how far to confront or engage with the new U.S. president.
Obamacare sign ups sag under Trump administration (CNN)
The pace of Obamacare sign-ups slowed in the final days of open enrollment last month, as the Trump administration pulled ads reminding procrastinators of the January 31 deadline.
Republicans Are About To Erase One Of Obama’s Major Workplace Protections (The Huffington Post)
On Thursday, House Republicans moved to gut one of Obama’s signature labor reforms, a rule that would forbid contractors with a history of workplace violations from receiving new contracts.
U.S. House Republicans exploring border tax design changes: lawmaker (Reuters)
Republicans in the U.S. House of Representatives are considering possible changes to the design of their controversial border adjustment tax proposal to accommodate industries worried about being harmed by the provision, a top lawmaker said on Friday.
U.S. military releases, withdraws Islamist video from fatal Yemen raid (Reuters)
In an awkward reversal, the U.S. military promptly withdrew a video by Islamist militants it had released on Friday as evidence that a fatal raid in Yemen by American special forces was a counter terrorism success.
Trump slaps new sanctions on Iran after missile test (Politico)
The Treasury Department on Friday announced a new wave of sanctions against Iran, taking formal action against the Islamic Republic just two days after National Security Adviser Michael Flynn said the U.S. was “officially putting Iran on notice.”
Life on the Home Planet
Paris shooting: New scare for French tourism (CNN)
France's status as a tourist magnet took another hit Friday after a man wielding a machete was shot in Paris.
Louvre knife attack: Soldier shoots assailant near Paris museum (CNN)
French authorities have opened a terror investigation after a soldier shot a man wielding a machete near the Louvre museum in Paris.
Mystery radiation ‘clouds’ may pose risk to air travellers (New Scientist)
Danger zones in the air where radiation levels surge could pose an unrecognised health hazard. Airliners may have to avoid these in future, just as they do with volcanic ash clouds, to minimise any risk to travellers and crew.
Wetlands Can Help Fight Climate Change (E&E News)
A study published this week in the journal Frontiers in Ecology and the Environment compared the carbon sequestration potential of a handful of marine ecosystems and found that mangroves, salt marshes and seagrass meadows have the greatest impact on climate change. Helping less are coral reefs and kelp beds.
