Financial Markets and Economy
U.S. mortgage delinquencies rise from 10-year low: MBA (Reuters)
More U.S. homeowners fell behind on their mortgage payments in the final quarter of 2016, raising the level of delinquent home loans from its lowest level in a decade, the Mortgage Bankers Association said on Wednesday.
A $14 billion hedge fund is sounding the alarm on distress in the retail sector (Business Insider)
Canyon Capital Advisors, a Los Angeles-based hedge fund set up Joshua Friedman and Mitchell Julis, said in a January letter to investors that a number of sectors would feel the effects of tightening financial conditions.
Markets Learn to Live With a More Hawkish Yellen (Bloomberg)
Gone are the days when the slightest hint of higher rates sent markets into a tailspin. Now, a relatively hawkish Federal Reserve Chair Janet Yellen has stocks headed for the longest rally in more than three years.
Are we on the verge of a stock market crash? It’s complicated (The Globe And Mail)
Popular metrics of market valuation – such as price to forward earnings, price to book value, price to cash flow and cyclically adjusted price to earnings (CAPE) – indicate the U.S. stock market is overvalued by between 10 per cent and 60 per cent.
4 Stocks to Buy Near 52-Week Lows (Fool.com)
With U.S. stock markets trading near their all-time highs, many companies' valuations have become a bit stretched. But there are always bargains to be found if you are willing to turn over enough rocks.
Money managers no longer hate gold, saying it’s undervalued (Market Watch)
The latest survey of nearly 200 money managers worldwide, controlling more than half a trillion dollars in investment assets, shows a sudden and rare burst of bullishness about the yellow metal.
Beware of overpriced options (Mauldin Economics)
I am old enough that I was trading in the markets before decimalization. If an option was trading for a quarter, we called it a “quack.” If it was trading for a sixteenth, we called it a “teeny” or a “stink.”
Tracking Warren Buffett's Berkshire Hathaway Portfolio – Q4 2016 Update (John Vincent, Seeking Alpha)
This article is part of a series that provides an ongoing analysis of the changes made to Berkshire Hathaway's (BRK.A, BRK.B) US stock portfolio on a quarterly basis.
Toll Brothers to Pay Taxes on Manhattan Condos to Lure in Buyers (Bloomberg)
Luxury developer Toll Brothers Inc. has a deal for those shopping for a condo in Manhattan: buy something soon, and we’ll pay the taxes on your purchase.
A Bloodbath Looms Over Oil Markets (OilPrice.com)
Oil prices have traded reliably in the $50s per barrel since OPEC agreed to cut production last November, but having failed to break through a ceiling in the upper-$50s, crude prices are in danger of falling back again.
China approves more large project investment (China Daily)
China's top economic planner approved 18 large fixed asset investment projects with investment totalling 153.9 billion yuan ($22.3 billion) last month amid efforts to stabilize economic growth by boosting infrastructure investment.
What Do Credit Markets (And Insiders) Know About Goldman That Stock Investors Don't? (Zero Hedge)
Goldman Sachs stock price is up over 40% since the election of Donald Trump.
Dow Hits 20,500 – Hawkish Yellen Sparks (Another) Buying Panic In Banks, Batters Bonds (Zero Hedge)
86 days in a row without a 1% drop… Buy The No Dip… 6 up in a row for S&P… (longest winning streak in 2 months), Trannies ended the day lower…Dow leads on the back of GS, JPM, and AAPL (45 of 90 total points).
Companies
Verizon close to Yahoo deal, price cut of $250-350 million: sources (Reuters)
Verizon Communications Inc (VZ.N) is close to a revised deal to buy Yahoo Inc's (YHOO.O) core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter.
Marriott Shares Rise On Quarterly Earnings Growth (Market Watch Pulse)
Shares of Marriott International Inc. rose in Wednesday's extended session after the lodging company announced quarterly results. Marriott reported its fourth-quarter earnings climbed to $244 million from $202 million.
Barrick raises dividends as profit tops forecasts (Reuters)
Barrick Gold Corp reported better-than-expected profits and ambitious debt reduction plans on Wednesday, saying its balance sheet is now healthy enough to boost dividends and exploration spending.
Technology
Jaguar announces Apple Pay-based in-car fuel payment feature (9To5Mac)
Jaguar has announced a new in-car fuel payment feature that it says works with Apple Pay. The feature is only available at Shell stations starting in the UK, but Jaguar says it “will become available later this year in other markets.”
CRISPR patents, potentially worth billions, belong to Broad Institute (The Verge)
The disputed patents on the gene-editing tool CRISPR belong to the Broad Institute of MIT and Harvard, according to a ruling by judges at the United States Patent and Trademark Office (PTO) in Alexandria, Virginia.
3D printing ordinary household goods can save you a lot of money, study finds (TechSpot)
3D printers are still very much a niche product for a specific audience, most of which are tech enthusiasts and creators. As a recent study out of Michigan Tech highlights, however, it may be in the best interest of the general public (and their pocketbooks) to hop aboard the 3D printing bandwagon ASAP.
This Technology Could Finally Make Brain Implants Practical (MIT Technology Review)
In labs testing how brain implants could help people with physical disabilities, tales of success can be bittersweet.
Politics
Senate votes to block Obama-era rule preventing mentally impaired Social Security recipients from buying guns (Associated Press)
The Republican-led Senate has voted to block an Obama-era regulation that would prevent an estimated 75,000 people with mental disorders from being able to purchase a firearm.
American Institutions Are Pushing Back Against Trump (The Atlantic)
Nothing Donald Trump has done since becoming President is particularly surprising. The attacks on judges and the press, the clash of civilizations worldview, the ignorance of public policy, the blurring of government service and private gain, the endless lying, the incompetence, the chaos—all were vividly foreshadowed during the campaign.
Defense Secretary Mattis issues new ultimatum to NATO allies on defense spending (The Washington Post)
Defense Secretary Jim Mattis issued an ultimatum Wednesday to allies in the North Atlantic Treaty Organization, warning that if they do not boost their defense spending to goals set by the alliance, the United States may alter its relationship with them.
Clinton Officials Denounce Alleged Trump Campaign Officials’ Contacts With Russia (NBC News)
Hillary Clinton's presidential campaign spokesman Tuesday night called the information in a New York Times report — which said intercepted phone calls showed that officials of Donald Trump's campaign had repeated contacts with Russian intelligence officials — a "colossal scandal."
Sen. Rand Paul of Kentucky on Tuesday suggested he was not sold on the need for investigations into the mounting controversies roiling President Donald Trump's administration.
Keith Olbermann: Republicans Would’ve ‘Impeached Clinton Before Sunrise’ (The Huffington Post)
Keith Olbermann is calling out President Donald Trump for dealing with the North Korea missile test in full view of guests at a dining room at his Florida club.
This Japanese CEO Pledged to Trump That He’d Invest in U.S. Jobs. Then He Bought a Hedge-Fund Firm. (Money Box)
In December, Masayoshi Son, the founder of Japanese telecommunications giant SoftBank, met with then-President-elect Donald Trump and pledged to invest $50 billion in the United States and create 50,000 new jobs in the process—an announcement that, on the surface, was of a piece with Trump’s heartland-baiting, job-saving pageantry throughout the presidential transition.
Trump's Russia Ties Are Becominf A Nightmare (Vanity Fair Hive)
Less than one month after he was sworn in, Donald Trump’s presidency appears to be mired in a continuing, seemingly unending cloud of scandal.
GOP senators unnerved by Trump-Russia relationship (The Hill)
Senate Republicans are expressing growing concerns about the relationship between the Trump administration and Russia.
President rekindles feud with intelligence agencies (The Hill)
President Trump is reigniting his feud with the intelligence community, criticizing it for leaks that led to his decision to oust Michael Flynn as national security adviser.
What You Need To Know About The Trump Administration’s Ties To Russia (The Onion, Humor)
New revelations from the U.S. intelligence community about potentially illegal communications between members of the Trump administration and Russian officials, which led to Michael Flynn resigning as national security advisor Monday, have increased calls for a wider investigation of Trump’s murky ties to Russia.
These 23 Republicans Passed on a Chance to Get Trump's Tax Returns (The Atlantic)
More than 800,000 Americans have signed a petition demanding the release of Donald Trump’s tax returns. Polls show that a majority of the country wants to see the documents.
Inside The Macedonian Fake-News Complex (Wired)
The first article about Donald Trump that Boris ever published described how, during a campaign rally in North Carolina, the candidate slapped a man in the audience for disagreeing with him.
Paul Krugman dissects the staggering ignorance of the Trump White House (Alternet)
Is the Trump White House evil or just stupid? The answer to that burning question is, well, both. In Monday’s column, Paul Krugman takes as his subject the incompetence piece, which is evident in matters both large and seemingly trivial.
Health and Biotech
Is Your Gut Making You Depressed or Anxious? (QuickAndDirtTips.com)
If you had to guess the organ that has undue influence on your emotions, your mood, even your choices, what would you guess? The brain? Sure, but what else? The heart—that mythological seat of the soul? Not quite. The stomach? You’re getting warmer.
Life on the Home Planet
An 'aggressive, proactive attack' to prevent disaster at the Oroville Dam (Los Angeles Times)
With both spillways badly damaged and a new storm approaching, America’s tallest dam on Tuesday became the site of a desperate operation to fortify the massive structures before they face another major test.
Number of bridges in the US that need repair? More than 55,000 (CNN)
The report, released Wednesday, ranks bridges on their structural deficiency.
"If the bridge is structurally deficient, one of the key elements is below a 4 on a scale from 0 to 9, meaning poor or worse condition," Alison Black, the transportation association's chief economist and author of the report, told CNN.
