Financial Markets and Economy
Bond Traders' Bonuses Set to Rise 15% as Banks Resume Big Raises (Bloomberg)
Wall Street bond traders who survived years of slumping revenue are on track to receive some of the financial industry’s biggest bonus hikes for 2017 as banks increase total incentive payouts the most this decade.
U.S. Gas Gains on Potential Marcellus Shale Pipeline Delay (Bloomberg)
U.S. natural gas futures surged after federal regulators limited construction on a pipeline, a move that may delay new Appalachian supplies from reaching the market.
Dollar Pares Loss, Euro Drops Toward 200-Day Moving Average (Bloomberg)
The Bloomberg dollar index nursed slight losses in a subdued trading session as focus shifted away from the greenback, with markets seeking fresh drivers after position rebalancing following the French presidential vote appeared to have run its course.
Reasons to Like the Euro Again (Bloomberg)
It’s always worth re-evaluating one’s views, and my latest revision is that the euro currency is better and less vulnerable than I had thought. I still believe its creation and later expansion were mistakes, but I now see them as much smaller mistakes than before.
Japan May Rekindle Its Love Affair With French Bonds (Bloomberg)
Having sold French sovereign debt for the fifth month in a row in March, Japanese investors may start to rekindle their interest in the bonds, according to fund managers interviewed by Bloomberg including Nissay Asset Management and Amundi Asset Management.
China Metals Bulls Aren't Panicking Just Yet as Rally Fades (Bloomberg)
A gauge of six metals on the London Metal Exchange slumped Monday to its lowest in four months amid a collapse in copper and aluminum prices.
Ultra-Wealthy Investors Facing Lower Returns Ahead, KKR Says (Bloomberg)
Returns for ultra-high-net-worth investors such as wealthy families may be poised to decline, according to a new report by KKR & Co.
Goldman to IEA See Oil Bulls Back on Top as Cuts Dent Stockpiles (Bloomberg)
Oil is trading near $50 again, OPEC seems to be losing its ability to influence prices and a wave of new supply is hitting the market from Texas to Libya. For some, there’s never been a better time to buy.
Here’s the ‘closest thing to a sure bet’ in stocks in next 6 months (Market Watch)
May traditionally marks the beginning of the six months when the stock market’s returns lag the November-April period, coining the adage “sell in May and go away.” But with all such axioms, there are always exceptions and the health care sector appears to be one.
Six Canadian Banks Cut by Moody's on Consumers' Debt Burden (Bloomberg)
Six of Canada’s largest banks had credit ratings downgraded by Moody’s Investors Service on concern that over-indebted consumers and high housing prices have left lenders vulnerable to potential losses on assets.
A stock market decline may be around the corner, according to Elliott Wave analysis (Market Watch)
This recent rally seems to have shaken many traders, especially those who have been incessantly trying to short-sell this market for the past year. They note that the market SPX, +0.11% is just not making sense, and they’re scratching their heads about why it has moved so high. I still think 2017 has more pain in store for these traders.
U.K. Housing Momentum Ebbs as Buyer Interest and Sales Wane (Bloomberg)
Demand for U.K. housing dropped to a nine-month low in April in a sign the property market continues to cool, according to the Royal Institution of Chartered Surveyors.
Why Investors Should Trust Hard Data More (Bloomberg)
The apparent conflict between hard U.S. economic data, which look weak, and soft data, which look strong, adds considerable uncertainty to the outlook.
Are You Waiting for “Perfect” Investment Conditions? (Independent Thought)
It was a great day to be out on the river. The weather was beautiful–clear skies and 65 degrees with a pleasant breeze. The newer fishermen in our group didn’t realize that the pleasant weather may have been good for hiking but wasn’t very conducive to catching fish.
19 Years In, My Greatest Trading Career Regret is… (Medium)
No it’s not a trade gone wrong, a risk poorly managed, a missed opportunity, or a job or partnership I should or should not have taken. I have regrets in all those areas, for sure.
Companies
Snapchat Co-Founders Just Lost Over $1 Billion Each (Bloomberg)
Snap Inc. co-founders Evan Spiegel and Bobby Murphy lost more than $1 billion each after the company reported earnings for the first time Wednesday afternoon.
Chicago Loses $29 Million Appeal By Expedia And Other Online Travel Companies (Forbes)
Another round in the seemingly endless battle between on line travel companies and cities goes to the OTCs and the dollars are pretty substantial. Based on a 2015 ruling by the Cook County Circuit Chicago was expecting to collect $29,101,076.23 from Expedia and other OTCs.
Apple AAPL Surges with Surprise Breakout May 9 (Afraid To Trade)
All seemed lost in the moments following Apple’s (AAPL) most recent earnings announcement.
Bearish projections were rampant as bears took a victory lap that share prices would finally collapse. The problem is… they were completely, spectacularly wrong.
Dell Launches A Machine-Learning Platform For Women Entrepreneurs (Forbes)
If you're a female entrepreneur looking for resources, say Hello Alice.
Launched by Dell and Circular Board, Hello Alice is a machine-learning platform designed for female entrepreneurs. The platform has a friendly, how-can-I-help-you approach, and offers information on strategy, financing, technology and other topics.
Adidas selling golf equipment businesses, including TaylorMade, to focus on clothes and shoes (Market Watch)
Adidas AG said Wednesday that it will sell its golf brands TaylorMade, Adams Golf and Ashworth to a newly formed affiliate of private-equity firm KPS Capital Partners for $425 million.
Technology
Google just bought one of the top virtual reality studios (Business Insider)
Google announced Wednesday that it bought Owlchemy Labs, one of the top virtual reality video game companies.
Owlchemy will join Google's Daydream division, which makes the Daydream VR headset and is also working on augmented reality.
Augmented reality goggles give surgeons X-ray vision (New Scientist)
Augmented reality could soon let surgeons peer inside a patient’s body without needing to make a large incision, helping them to carry out keyhole surgery.
Here's What It Takes To Drive A McLaren P1 LM Supercar At The Limit (Digital Trends)
The McLaren P1 LM made quite a splash at the Goodwood Festival of Speed last year when driver Kenny Bräck used it to set a record for road-legal cars on the English estate’s famous hillclimb course. Bräck ran the 1.16-mile course in just 47.07 seconds, and now you can see what that looks like in this video.
Anti-net neutrality bots are swarming the FCC's comments (Engadget)
It's not just proponents of net neutrality that are flocking to the FCC's website — opponents are there as well… in a manner of speaking. Reports from ZDNet and elsewhere have revealed that one or more bots are posting thousands of identical comments (at least 128,000) in favor of the FCC's proposal to gut net neutrality rules.
Nvidia Achieves Massive Increase In AI Computing Power With Volta And Tesla V100 (Digital Trends)
Artificial intelligence (AI) and machine learning are incredibly important technological developments that require massive amounts of computing power. Microsoft is currently holding its Build 2017 developers conference, and there isn’t a product or service being highlighted that doesn’t integrate AI or machine learning in one way or another.
Microsoft Is Laying The Foundation For A Sci-Fi Future At Build 2017 (Digital Trends)
Microsoft Build is a developer’s conference. Frank Shaw, Microsoft’s VP of Corporate Communications, made light of that fact at a press preview the day before Build began. “It’s a developer conference,” he warned with a dead-pan tone. “There will be coding.”
New York joins the growing list of self-driving car testbeds (Engadget)
The Empire State and its bustling metropolis are ready to get in on the autonomous vehicle party. According to an announcement from Governor Andrew Cuomo, the New York Department of Motor Vehicles is now taking applications from companies that wish to test self-driving tech on the state's public roads.
Politics
After James Comey’s Firing, Who Will Stop Trump’s Tinpot Dictatorship? (The Intercept)
“YOU’RE FIRED!” That’s what Donald Trump would bark from his boardroom chair at the end of each episode of “The Apprentice.” For years, millions of Americans would smile, laugh, and even cheer in front of their television sets as the property tycoon performed his signature move.
'I think the president lost patience': Paul Ryan defends Trump's decision to fire Comey (Business Insider)
House Speaker Paul Ryan took to Fox News to address the recent firing of former FBI director James Comey, and in doing so, appeared to support President Donald Trump's decision.
An FBI director has only been fired once before — and it was under dramatically different circumstances (Business Insider)
President Bill Clinton was the first US president to dismiss the head of the bureau, and he made the move after the Department of Justice produced a 161-page internal report with sworn testimony from more than 100 FBI agents citing the numerous and severe ethical failures of the then-director, William S. Sessions.
Republicans Question Trump's Firing Of FBI Director (Associated Press)
More than a dozen Republican senators voiced concerns Wednesday over President Donald Trump's firing of FBI Director James Comey, in a series of statements suggesting the GOP was not yet prepared to close ranks behind its president. But most Republicans also refused to embrace Democratic calls for a special counsel and it was not clear their hand-wringing would result in any action.
GOP Senators Oppose Nominee For Trade Representative (Associated Press)
Two Republican senators said late Wednesday they would oppose President Donald Trump's nominee for U.S. Trade Representative in a broadside against the administration's "ongoing, incoherent and inconsistent trade message."
Senate committee subpoenas former Trump adviser Flynn over Russia (Reuters)
The U.S. Senate Intelligence Committee issued a subpoena on Wednesday demanding documents related to Russia from President Donald Trump's former national security adviser Michael Flynn, ramping up its monthslong investigation of Moscow's alleged meddling in the 2016 U.S. election.
Health and Biotech
Scientists came up with a new multivitamin for women that only contains the nutrients they really need (Insider Picks)
The vitamin aisle at the grocery store has to be one of the most difficult to navigate. With so many options to choose from, figuring out which vitamins you need is confusing and overwhelming. There's also the question of whether they're actually benefiting you, or if you're simply experiencing a placebo effect.
Minnesota measles outbreak follows anti-vaccination campaign (New Scientist)
The state of Minnesota is in the throes of its biggest measles outbreak in 27 years. As of 5 May, 44 cases had been confirmed. Of these, 42 people were unvaccinated, and 38 belonged to the state’s Somali-American community.
Life on the Home Planet
8 Dead, 20 Injured After Moderate Quake in Far Western China (Associated Press)
A moderate but shallow earthquake in far western China on Thursday killed eight people and injured more than 20 others, the region's earthquake administration said.
Waves surge in opposite directions around Io’s largest lava lake (New Scientist)
Surf’s up on Jupiter’s moon. Magma waves travelling both clockwise and anticlockwise have been spotted on the surface of a lava lake on Io, the most volcanically active body in the solar system.
This new species of dinosaur looks like Zuul from Ghostbusters (Popular Science)
If you're a paleontologist naming a newly discovered species, it's important to know your beloved critter's place in the pecking order. Not all animals—or dinosaurs, even—were masters of their domain.
Desert critters avoid noisy wind farm turbines (Popular Science)
In preparation for war in 1940s, U.S. Army tanks crunched across the wild deserts of Southern California, leaving tracks that will remain for thousands of years. Jeffrey Lovich, a U.S. Geologic Survey research ecologist, has trekked through these harsh desert environs for decades, and sometimes comes across the tank- imprinted past.
We just got an up-close look at the largest lava lake in the solar system (Popular Science)
In a study published Wednesday in Nature, researchers used a giant telescope and the movement of Jupiter’s moons to get the most detailed look ever at this lava lake, taking its temperature from millions of miles away.
