Financial Markets and Economy
Oil Slips From 19-Month High as Ample Supply Offsets OPEC Cuts (Bloomberg)
Oil retreated from the highest close since July 2015 in New York as record U.S. crude inventories offset OPEC production curbs.
Sales of New U.S. Homes in January Were Slower Than Forecast (Bloomberg)
Purchases of new U.S. homes in January were slower than forecast, signaling an increase in mortgage rates may be giving some potential buyers pause.
Standard Chartered 'War-Gaming' Trump Trade Battles (Bloomberg)
One of the world’s biggest emerging-market banks says it’s "war-gaming" trade disruptions after U.S. President Donald Trump’s election.
The Murky Future of Nuclear Power in the United States (NY Times)
The Three Mile Island meltdown was two generations ago. Since then, engineers had developed innovative designs to avoid the kinds of failures that devastated Fukushima in Japan.
A leading economist explains why bitcoin isn't money (Business Insider)
Ann Pettifor, leading economist and author of "The Production of Money" told Business Insider that bitcoin is flawed as money because it is a "finite asset."
There's never been a better time to be a gun owner, according to gunmaker Sturm Ruger.
While he was campaigning, President Donald Trump promised voters fewer restrictions on assault-weapon sales. The National Rifle Association endorsed him as a candidate.
FCC chair to block stricter broadband data privacy rules (Reuters)
The U.S. Federal Communications Commission will block some Obama administration rules that subject broadband providers to stricter scrutiny than websites, a spokesman said on Friday, in a victory for internet providers such as AT&T Inc, Comcast Corp and Verizon Communications Inc.
ETFs might do investors more harm than good (Market Watch)
Warren Buffett, the CEO of Berkshire Hathaway, and John Bogle, the founder of Vanguard, worry that they have. Those investment gurus are among the experts who argue that ETFs, which can be easily traded throughout the day, encourage self-destructive short-term trading that almost invariably leads to lower long-term returns.
Almost unequivocally, experts from the left and the right ends of the political spectrum see immigration as a net benefit to the economy. They cite everything from population growth to increased tax receipts to diversity of people and ideas.
8 Signs the Trump Trade Is Crumbling (The Wall Street Journal)
The “Trump trade” has continued longer than most expected, but it’s showing signs of wear and tear. Major stock benchmarks haven’t given up much of their postelection gains, but the Dow industrials were 0.2% lower on Friday, on pace to snap a 10-session streak of record highs that has been its longest since 1987.
Egyptians Bear Down Under Worst Inflation In A Decade (Associated Press)
Egyptians are bearing down under their worst inflation in a decade, cutting spending as much as possible as prices surge on basic food items, transport, housing, and even some essential medicines.
February U.S. auto sales seen up 0.6 percent: JD Power-LMC (Reuters)
U.S. auto sales in February will increase less than 1 percent from a year earlier, even as consumer discounts remain at record levels, industry consultants J.D. Power and LMC Automotive said on Friday.
China to tighten oversight of asset management industry – central bank official (Reuters)
China will tighten oversight of its sprawling asset management industry as it moves to rein in financial risks, a senior central bank official said in remarks published on Friday.
America in Cap-Ex Mode Can't Beat Buybacks as Bull Market Engine (Bloomberg)
U.S. corporations gearing up to spend the most money in three years should be great news for the stock market, right?
It’s A Hat Trick! U.S. Treasury Yields Fall For 3rd Straight Day (Barron's)
Treasury yields remained on track to drop for a or a third straight day as bond prices continued to rise as confidence dimmed in a March move by the Federal Reserve.
Arizona Wants To Be Able To Seize the Assets Of Protesters (Blacklisted News)
If Republicans in Arizona’s senate have their way, police in that state could soon have the power to seize assets and property from protesters, the Arizona Capitol Times reports.
Bespoke’s New Beat Rate Tracker (Bespoke)
If you’re not already aware, Bespoke maintains an interactive database that contains earnings report data for more than 4,000 US stocks. The database has more than 130,000 individual quarterly earnings reports on file going back to 2001, and there are a limitless ways for traders and investors to analyze the data.
The danger of a crash landing in high-flying stocks, bonds and property (The National Business)
Global stock markets are flying. In the US, the Dow Jones has shot past its all-time high to trade at more than 20,000. The UK’s FTSE 100 is also breaking records, having burst convincingly through the 7,000 barrier after years of trying.
The Morning Badger (2/24/17): A Banner Day for Private Prison Stocks (Money Badger)
Last year, the Obama administration set policies in place that curbed the use of private and for-profit prisons for federal incarceration and prevented said prisons from growing in numbers.
GREECE IN PANIC: Citizens withdraw £2.1bn from banks in 45 DAYS amid default fears (Express)
Greece faces running out of money in just five months as it faces repayments of more than £5.1bn (€6bn) which they will not be able to achieve without help or restructuring.
Why Warren Buffett’s ‘20-Slot Rule’ Will Make You Insanely Successful and Wealthy (The Mission)
Warren Buffett’s enormous wealth is only matched by his incredibly valuable wisdom. So when the Oracle of Omaha says he has a simple rule to improve your life financially and personally, you should pay attention.
New Home Sales Disappoint As Median Home Price Rises 7.4% (Zero Hedge)
"Soft", survey and optimism-based, data may (still) be euphoric, but when it comes to "hard", actual economic data, moments ago the Census reported the latest disappointment when it comes to New Home Sales, which rose to 555K in January, missing expectations of 571K, and up 3.7% from a downward revised 535K in December.
Consumer Confidence Dissonance: "Democrats Expect Recession, Republicans Expect Robust Growth" (Zero Hedge)
Consumer confidence fell for the first time since November’s election, as party lines divided Americans following a boost in enthusiasm for Trump's economic policies.
Doubts Grow Over Stock Market's Trump-Inspired Surge (Associated Press)
U.S. stocks have screamed to records since Election Day because investors are expecting Donald Trump's White House to cut taxes for business, make regulations easier for them and goose more growth out of the economy. But investors around the world are questioning whether the rally is exhausting itself.
German 2Y Yield Plunges To Record -0.95%: Citi Explains Why It Will Keep Dropping (Zero Hedge)
In his latest note this morning, DB's Jim Reid admits that "I've no idea why Bunds are rallying so hard at the moment."
Companies
J.C. Penney to Shut as Many as 140 Stores as Industry Slumps (Bloomberg)
J.C. Penney Co. plans to shutter as many as 140 stores and trim thousands of jobs, becoming the latest department-store chain to make big moves in a world of lower mall traffic and fierce online competition.
BHP has lost 41,000 tonnes of copper due to strike at Escondida (Mining.com)
World’s largest miner BHP Billiton (ASX, NYSE:BHP) (LON:BLT) has already lost 41,000 tonnes of copper production due to an ongoing strike at its Econdida mine in Chile, the world’s largest.
An Ethnographer of Cancer Care for IBM Watson (NY Times)
Q. What is your role as a design researcher?
A. My group supports IBM Watson for Oncology, a part of Watson Health that helps care teams personalize cancer treatment. We develop software tools that allow cancer specialists to quickly analyze health data to gain insights.
Exxon's New Chief Endorses Carbon Tax to Combat Climate Change (Bloomberg)
In his first blog post since succeeding Rex Tillerson, the new head of Exxon Mobil Corp.focused on climate change, calling for a carbon tax to discourage use of polluting fuels.
Problems Pile up for Uber in a Traffic Accident of a Week (NBC News)
Earlier this week, the $68 billion ride-sharing giant faced a wave of criticism and account deletions following revelations of sexual harassment and a take-no-prisoners "bro" culture at the San Francisco-based company.
These are the 18 most reliable used cars of 2017 (Business Insider)
When it comes to buying a used car, reliability is paramount. Fortunately for car buyers, J.D. Power released its 28th annual Vehicle Dependability Study this week. The study examines the reliability of 2014 model-year cars over the past 12 months — giving car buyers a glimpse at the type of problems these three-year-old cars are likely to experience.
Both Jeep and Porsche have unveiled new car models this week that work with Apple’s CarPlay infotainment feature. Porsche’s new hybrid also features Apple Watch support for charging timers.
Technology
Intel's New LTE Chip Could Gobble Up All Of Qualcomm's iPhone Business (Forbes)
Intel is eliminating a key barrier that's keeping it from winning all of the iPhone's cellular modem business.
Politics
DNC narrowly elects Tom Perez as new chair (Business Insider)
In an extremely close race that went to multiple rounds of balloting, former Labor Secretary Tom Perez was elected Saturday to head the Democratic National Committee, ending the months-long jockeying for the top spot in the Democratic Party's election arm.
Sebastian Gorka, Trump's combative new national security aide, is widely disdained within his own field (Business Insider)
It was May 2016 and Sebastian Gorka, a former editor at Breitbart News who is now a senior official in President Donald Trump's White House, had been invited to speak at a Defense Intelligence Agency conference.
Trump Approval Rating at 41%… Nearly Six in Ten Call Trump’s Conduct “Embarrassing” (MaristPoll)
With a little more than one month on the job, many American voters are not impressed with Donald Trump’s performance as president.
Trump’s efforts to obstruct the Russia investigation may have finally gone too far (Think Progress)
Trump has made no secret of his disdain for efforts to investigate the role of Russia in the 2016 presidential election, including possible communication between his campaign and Russian operatives.
White House denies wrongdoing in conversations with FBI (CNN)
Two senior administration officials on Friday vehemently argued that White House officials acted appropriately in asking the FBI to publicly knock down media reports about communications between President Donald Trump's associates and Russians known to US intelligence.
Montana Abortion Bill Would Make Doctors Try to Save Fetus (Associated Press)
Montana lawmakers pushed forward with a measure that would effectively ban all abortions after 24 weeks of pregnancy, regardless of the medical risks to a woman, by requiring doctors to deliver the fetus and try to save it.
Blaming Immigrants For The American Police State (Blacklisted News)
Watching the constant FoxNews broadcasts around the clock, one would think that you were watching NAZI Germany in the showcasing of the abject hatred, vitriol, and scapegoating of an entire class of people for the ills and failings of the American Police State in the modern age.
Our congressman wouldn’t meet with us, so we took matters into our own hands (Think Progress)
What happens when your congressman won’t agree to meet with his constituents? If you live in Ohio’s 12th district, you take matters into your own hands.
Overwhelmed Courts Could Limit Impact Of Adding Immigration Officers (NPR)
The Department of Homeland Security issued new guidelines this week that call for hiring 15,000 additional Border Patrol agents and immigration officers. It also wants to greatly expand the number of unauthorized immigrants who are prioritized for deportation.
Germany: Merkel's Party Slips Behind Center-Left SPD In Poll (Associated Press)
Germany's Social Democrats nudged past Chancellor Angela Merkel's conservative bloc for the first time in more than a decade according to a poll released Friday, as the center-left party rides a wave of enthusiasm from their surprise nomination of a new leader.
Obama 2017: Petition Calls for Barack Obama to Run as French President (TIME)
If the upcoming French election wasn't tense enough, a petition is calling to add yet another candidate into the mix: former U.S. President Barack Obama.
Life on the Home Planet
Astronomers have found 7 Earth-size planets circling a dwarf star — and some might be able to host life (Business Insider)
Less than a year ago, astronomers announced an astounding discovery: They'd found three Earth-size planets orbiting a small, dim red star.
He yelled ‘Get out of my country,’ witnesses say, and then shot 2 men from India, killing one (The Washington Post)
Authorities in Kansas filed first-degree murder charges against a man accused of opening fire in a bar there, killing one Indian man, injuring two other people and causing fears about bigotry to reverberate across the globe.
