News You Can Use From Phil’s Stock World

Financial Markets and Economy

World stocks edge lower; Wall Street at record (Reuters)

Stocks on major world markets slipped on Friday in the wake of back-to-back sessions of record highs, as investors awaited clarity on U.S. President Donald Trump's tax and trade policies.

Carney, Wrong on Brexit, May Have Called Consumer Collapse Right (Bloomberg)

The U.K. consumer finally appears to be cracking — potentially taking Britain’s economic strength with it.

Retail sales unexpectedly fell for a third month in January, calling into question the key component of the economy’s recent momentum. The decline left both the three-month and annual rates of growth at the slowest in more than three years.

French Bonds Drop on Potential Left-Wing Candidacy Merger (Bloomberg)

French bonds dropped as the nation’s election campaign took another twist after Socialist Party presidential candidate Benoit Hamon said he’s holding further talks with far-left candidate Jean-Luc Melenchon about a potential single candidacy.

How to Explain the Divergence of Global Interest Rates (Bloomberg)

Global bond markets trade on variables such as currency valuations, global fund flows, inflation expectations and monetary policy that can determine the level of interest-rate differentials.

Mexico economy minister warns Trump: Tariffs 'will be a big mistake' (CNN)

The Trump administration has floated the idea of a 20% tariff on Mexican imports to the United States to pay for its proposed border wall. Trump has also threatened a 35% "big border tax" on companies that move jobs to Mexico.

The Russian ruble is tumbling as inflation picks up (Business Insider)

The Russian ruble is tumbling. The petrocurrency is down by 1% at 58.1678 per dollar as of 8:06 a.m. ET.

Earlier, data showed that Russian PPI rose by 12.7% year-over-year in January, marking the highest inflation since November 2015. It followed the 7.4% increase in December. 

Bank of America summed up the huge change taking places in markets in one simple graphic (Business Insider)

For seven years after the financial crisis, it was all about Davos Man. 

The Davos Man was at the World Economic Forum in Davos, Switzerland, the annual global meeting of minds with the mission of improving the state of the world through global partnership. 

White House Chaos Doesn’t Bother the Stock Market (Bloomberg)

Follow the money: it’s a classic Washington catchphrase.

And if you follow the money on Wall Street right now, it’s hard to see how all that chaos in the White House you’ve been reading about adds up to much for the financial markets.

Mexico Is Moving Forward on a Plan to Hit U.S. Farmers Where It Hurts (Reuters)

Mexico's attempts to diversify its supplies of corn could threaten a crucial market for U.S. farmers who are increasingly dependent on exports to unload record stockpiles that are depressing prices.

How Trump’s stock market ranks in his first 30 days in office (Market Watch)

Much has been made of the stock market’s recent record-setting performance since President Donald Trump won the race for the White House back in November.

All that money printing is finally producing inflation (Wolf Street)

Consumer prices surged 0.6% in January from December, double the consensus forecast of a 0.3% rise. The sharpest monthly increase since February 2013, according to the Bureau of Labor Statistics.

Warren Buffett Lists Longtime Laguna Beach Home for $11 Million (The Wall Street Journal)

Billionaire investor Warren Buffett is putting his longtime California beach house on the market for $11 million.

If it sells anywhere near its asking price, Mr. Buffett will score a decent return: He bought the Laguna Beach home in 1971 for $150,000.

What Happens to Your Investments If Your Stock Broker Goes Bankrupt? (The Balance)

In today’s difficult economic landscape we have witnessed some of the most notable and long standing institutions fall by the wayside.  Institutions that carried much in the way of financial clout have partnered with other firms in an effort to remain competitive or in some cases remain viable.

Tough Consumer Spending Environment And Its Potential Impact On Macy's, Wal-Mart, Home Depot Earnings (JJ Kinahan, Seeking Alpha)

It's no secret that traditional retailers have had a tough go of it as e-commerce competitors bag a bigger share of the market and the holiday selling season, the most important for most retailers, might underscore the issue.

Companies

Meet the bankers working on a potential nearly $250 billion megamerger (Business Insider)

Kraft Heinz, the consumer giant backed by Brazilian billionaire Jorge Lemann and Warren Buffett, has made an approach to combine forces with European peer Unilever.

Warren Buffett's Dealmaking Ketchup Giant Kraft Heinz Heads Abroad In The Age Of Donald Trump (Forbes)

In the populist age of President Donald Trump – when CEOs are routinely hauled to Washington and browbeaten on live television over an America-first jobs agenda – it makes perfect sense for Kraft Heinz to shock Wall Street and take its ruthless deal-making abroad.

Snap’s IPO builds an ‘impregnable fortress’ where only the founders have power (LA Times)

The founders of Snap Inc. want to take the company public. But that doesn’t mean they want to run a public company. Public companies, after all, have to deal with shareholders who don’t like the way the company is being run.

This Top Airline Posted a Miserable On-Time Arrival Rate in 2016 (Fool.com)

Americans love JetBlue Airways (NASDAQ: JBLU). The low-cost carrier known for comfortable leather seats with free, live television topped J.D. Power's 2016 North America Airline Satisfaction Study Opens a New Window., beating low-cost rival Southwest (NYSE: LUV) for the top spot.

S&P downgrade warning sends Toshiba shares falling (Reuters)

S&P Global Inc (SPGI.N) said in a report on Friday it could cut its rating of Toshiba Corp (6502.T) credit by several notches should the Japanese firm receive financial support that includes debt restructuring, sending Toshiba stock down 9 percent.

Technology

Zuckerberg Lays Out Broad Vision for Facebook in 6,000-Word Mission Statement (The Wall Street Journal)

After a year of controversy over Facebook Inc.’s role in spreading misinformation and handling violent images, Chief Executive Mark Zuckerberg now is positioning the company as the backbone of what he hopes will be a new “social infrastructure” addressing some of humanity’s biggest problems.

New Supercomputer Aids Climate Research In Top Coal State (Associated Press)

A new supercomputer in the top coal-mining state has begun critical climate-change research with support from even some global warming doubters, but scientists worry President Donald Trump could cut funding for such programs.

Liquid glass coating can make your phone screens super strong (Mashable)

'ProtectPax' is an innovative screen protector that works on glass surfaces like smartphones, tablets and glasses.

It uses liquid glass – a silicon dioxide coating that bonds with a given surface and significantly hardens it. 

Politics

President Trump loved WikiLeaks. White House leaks? Not so much. (The Washington Post)

President Trump was a big fan of leaked — even stolen — information on his campaign rivals during the 2016 election. He called the dump of Clinton campaign emails released by WikiLeaks “a treasure trove,” and cited them repeatedly on the campaign trail.

DHS Weighed NAT Guard For Immigration Roundups (Associated Press)

The Trump administration considered a proposal to mobilize as many as 100,000 National Guard troops to round up unauthorized immigrants, including millions living nowhere near the Mexico border, according to a draft memo obtained by The Associated Press.

Barack Obama Ranked 12th Best U.S. President Ever in Major Survey of Historians (TIME)

Barack Obama has been whisked to a very good table at the club of former presidents, according to a C-SPAN survey of 91 presidential historians published on Friday.

A Jewish Reporter Got to Ask Trump a Question. It Didn’t Go Well. (NY Times)

Jake Turx is a newly minted White House correspondent for a publication that has never before had a seat in the White House press corps: Ami Magazine, an Orthodox Jewish weekly based in Brooklyn.

Lawmakers, After Meeting With ICE, Say All Undocumented Immigrants at Risk of Deportation (NBC News)

Members of Congress expressed alarm that all undocumented immigrants in the U.S. are at risk of deportation. They said this was made clear to them in a meeting Thursday with a top Immigration and Customs Enforcement official.

As Tax Debate Heats Up, Lawmakers Struggle to Think of a Plan B (The Wall Street Journal)

An uncomfortable question looms over the tax debate in Congress: What’s Plan B?

Border adjustment, a pillar of House Republicans’ tax proposal, is taking a beating. Big retailers are lobbying aggressively against the concept, which would tax imports and exempt exports.

Mnuchin Warned by Japan, Germany as G-20 Fears Policy Shift (Bloomberg)

Within hours of being sworn in, U.S. Treasury Secretary Steven Mnuchin’s counterparts from Tokyo to Berlin started telegraphing warnings to him: Please don’t call the yen weak. Be careful how you talk about cutting financial regulations — Europe is listening.

Republican governor: 'Serious constitutional concerns' about deploying the National Guard for immigration enforcement (Business Insider)

Two Republican governors said they had "concerns" about a Friday Associated Press report on a leaked draft memo written by the Department of Homeland Security that proposed mobilizing as many as 100,000 National Guard troops to round up and deport immigrants living in the US illegally.

U.S. top court to set guidelines for Trump treatment of non-citizens (Reuters)

The U.S. Supreme Court will decide three cases in coming months that could help or hinder President Donald Trump's efforts to ramp up border security and accelerate deportations of those in the country illegally.

Kremlin says not disappointed by how U.S-Russia ties are developing (Reuters)

The Kremlin said on Friday it was not disappointed by how U.S.-Russia ties were developing under U.S. President Donald Trump and that it would only be possible to assess the outlook for relations once the leaders of both countries had met.

Deutsche Bank examined Donald Trump's account for Russia links (The Guardian)

The scandal-hit bank that loaned hundreds of millions of dollars to Donald Trump has conducted a close internal examination of the US president’s personal account to gauge whether there are any suspicious connections to Russia, the Guardian has learned.

Pope appears to back anti-Trump protests in letter condemning populism (The Guardian)

Pope Francis has offered his unequivocal support to grassroots organisers and activists who are fighting for social justice, migrants, and environmentalism, saying he “reaffirms” their choice to fight against tyranny amid a “gutting of democracies”.

Stop hurling insults and listen, Pope Francis tells politicians (Reuters)

Politicians should lower the volume of their debates and stop insulting each other, Pope Francis said on Friday, adding that leaders should be open to dialogue with perceived enemies or risk sowing the seeds of war.

Trump's Florida Visits Put Small Airport In Tailspin (Associated Press)

President Donald Trump wants small businesses to thrive, but his frequent Mar-a-Lago visits have flight schools and other companies at a nearby airport in a financial nosedive.

Jimmy Fallon (as Trump) Meets the Press (NY Times)

President Trump’s 77-minute solo news conference, his first since his inauguration, was fodder for an array of jokes and skits Thursday night. Jimmy Fallon opened “The Tonight Show” with a spoof.

Congress Tests Trump Officials on Trade (The Wall Street Journal)

Lawmakers from both parties are showing early resistance to President Donald Trump’s trade policy, a key pillar of his 2016 “America first” campaign.

Life on the Home Planet

Glacial 'aftershock' spawns Antarctic iceberg the size of Manhattan (The Telegraph)

Antarctica's rapidly melting Pine Island Glacier has shed an iceberg the size of Manhattan, the latest evidence of the ice shelf’s fragility.

Meet the Gold Rush Towns at Risk of Flooding From California Dam (Bloomberg)

The damage to the spillway of the Oroville Dam puts a spotlight on the northern California communities that once boomed during the Gold Rush and are now at risk of severe flooding.

Pakistan says kills 100 'terrorists' after suicide shrine attack (Reuters)

Pakistani security forces killed dozens of suspected militants on Friday, a day after Islamic State claimed a suicide bombing that killed more than 80 worshippers at a Sufi shrine, the biggest in a spate of attacks this week across the country.

Huge storm slamming California extends from tropics like a ghostly finger (Mashable)

Atmospheric river storms are drought busters in California, dumping huge amounts of rain in narrow corridors within short periods of time. The ongoing storm slamming Los Angeles, the nation's second-largest city, as well as San Diego on Friday brings with it potentially historic amounts of rain, high winds and flood risks.