Financial Markets and Economy
U.S. Futures Little Changed After S&P 500 Ended Fed-Fueled Rally (Bloomberg)
U.S. stock-index futures fell, as investors weighed a rally earlier in the week and the impact of the Federal Reserve’s rate increase on global markets.
Crude oil just keeps falling (Bloomberg)
Crude oil continues to be in free fall.
Gold gets a lift as dollar turns lower (Market Watch)
Gold futures rose on Friday as the dollar softened a day after jolting higher in the wake of a historic interest-rate hike by the Federal Reserve.
Global Stocks Fall as Oil Glut Weighs (Wall Street Journal)
Global stocks wavered Friday as a rally spurred by the U.S. Federal Reserve’s decision to raise its benchmark interest rate faded amid low commodities prices.
The Dow Jones Industrial Average slipped 127 points, or 0.7%, to 17369. The S&P 500 declined 0.6%, and the Nasdaq Composite dropped 0.5%.
Bond Funds See Largest Outflows Since June 2013 Led by Junk Debt (Bloomberg)
Bond funds suffered the largest weekly withdrawals in more than two years, Bank of America Corp. said.
Fed to raise rates again in March, follow up with fewer hikes: poll (Business Insider)
The U.S. Federal Reserve will raise interest rates again in the next three months, according to two-thirds of economists polled by Reuters, although many say rates won't rise as quickly next year as policymakers have suggested.
Bond investors abandoned ship this past week (Market Watch)
Ahead of the first interest-rate hike in nearly a decade by the Federal Reserve, fixed-income investors abandoned ship by the billions — of dollars that is.
BlackBerry Earnings Beat Estimates on Software Revenue (Bloomberg)
BlackBerry Corp. reported a narrower third-quarter loss than analysts estimated as software revenue kicked in from its acquisition of Good Technology Corp.
There's a lot in common between Star Wars and financial advice (Business Insider)
With "Star Wars: The Force Awakens" opening in theaters across the country this week, Wealth Management shared some financial lessons you can learn from the historic saga. Just like Obi Wan Kenobi tells Luke the Force will guide him, advisors tell clients to develop a plan to lead them to a better future. Sticking to that plan is important for clients, just like when Obi Wan Kenobi reminds Luke to keep believing in the Force, Wealth Management says.
Craft brewers gear up for beer wars 2.0 (Market Watch)
If you buy beer at a grocery store, supermarket, liquor store or bottle shop in this country, that retailer’s relationship with its distributors has a profound effect on what beer is available and what you’ll be buying.
Emerging Markets Set for Weekly Advance on Fed as Risks Linger (Bloomberg)
Emerging-market currencies headed for a weekly gain on optimism the Federal Reserve will raise interest rates gradually. Stocks halted a three-day rally, led by declines in Russia and South Africa.
Asia stocks down, Japan gives up brief gains after BOJ stimulus (Business Insider)
Asian shares took their cue from Wall Street and slipped on Friday, and Japanese stocks slumped after briefly jumping on the central bank's statement that it would expand parts of its stimulus program.
Growth stocks are your best bet as interest rates rise (Market Watch)
Although the U.S. stock market overall has had quite the roller-coaster ride in 2015, with the S&P 500 ending November up a mere 1.5% for the year, the path upward was much smoother for growth stocks.
After years of performing in line with their value-stock brethren, growth stocks broke out in 2015 and have outperformed value by a wide margin.
China to Stress Test Securities Firms After Stock-Market Slump (Bloomberg)
China will conduct stress tests on its securities industry, after violent swings in equity prices during the summer stock rout raised concerns about the strength of the market infrastructure.
Standard Chartered shares upgraded by CLSA on possible white knight takeover (Business Insider)
Shares of Standard Chartered (StanChart) <STAN.L> <2888.HK> were upgraded by broker CLSA on expectations the UK bank's "challenging" recovery could lead to a takeover by a white knight.
Nikkei tumbles after BOJ shocks market with extra easing (Market Watch)
Japan’s surprise, albeit modest, measures to boost its economy jolted markets Friday—though investors’ disappointment ultimately sent shares lower, bonds higher and pushed the yen marginally stronger.
This Parent Trap Involves $71 Billion of Federal Education Debt (Bloomberg)
The U.S. government is sitting on a growing pile of debt backed by little more than parental love.
Goldman Sachs thinks Microsoft is making a comeback — here's why (Business Insider)
Goldman Sachs has published a 22-page research note looking at Microsoft's business and its opportunities. The research, titled "Righting a Wrong," upgrades Microsoft stock from a Sell rating to Neutral.
The research note goes into detail, analysing all of Microsoft's core businesses, including Office, Windows, and Azure. It notes that, while the company is in a state of transition, there is light at the end of the tunnel.
Hedge-Fund Casualties Surge to 257 in Third Quarter Amid Rout (Bloomberg)
Hedge fund closures surged in the three months to the end of September as money managers reeled from declines in commodity and equity markets, while high-yield credit spreads widened.
Zurich to buy U.S. crop insurer RCIS in $1 billion deal (Business Insider)
Zurich Insurance Group AG will pay up to $1.05 billion to buy a U.S. agricultural crop insurer from Wells Fargo & Co, the Swiss company said on Friday.
Zurich will buy Rural Community Insurance Services (RCIS) for $675 million, plus excess capital at the date of closing, an amount now estimated at up to $375 million.
FTSE 100 Little Changed After 3-Day Gain; Anglo, Glencore Rally (Bloomberg)
Britain’s shares fell after posting their biggest three-day rebound since October, even as energy and mining shares rallied.
The Canadian dollar just hit an 11-year low (Business Insider)
The Canadian dollar just fell to $1.40 against the US dollar for the first time since 2004.
Euro-Dollar Bulls and Bears Set To Hibernate Until March (Bloomberg)
Currency options show euro-dollar focus is looking past the European Central Bank and Federal Reserve meetings in January and giving a lot more attention on the March policy meetings, Bloomberg strategist Vassilis Karamanis writes. Until then, the euro is likely to trade within a familiar territory versus the greenback, especially as year-end flows may cloud the short-term direction after the Fed liftoff.
Apple partners with UnionPay to launch payment service in China (Business Insider)
Apple Inc said on Thursday it had partnered with China UnionPay to launch payment service Apple Pay in China for China UnionPay cardholders by early 2016.
China UnionPay is a state-controlled consortium that has a monopoly on all yuan payment cards issued and used in the country.
When's Winter Coming? Balmy December Sinks Global Energy Prices (Bloomberg)
Christmas is a week away, but temperatures more typical of spring than mid-winter are draining global energy markets of any festive spirit.
Dear prospective college students: Don’t borrow too much (Market Watch)
Dear 17-year-olds (and parents) allow this to serve as a memo from your 20-something self. Avoid taking on more in student loans than you have to. You will regret it.
That message, well-documented in news stories and likely in conversations with your older sibling/cousin/friend etc., was reinforced by a survey of nearly 2,000 student loan borrowers released Thursday.
A Million to None: The U.K.s Last Coal Miners Stop Work Today (Bloomberg)
So long, and thanks for all the fuel.
Oil Slides Under $35 as Glut Worsens While Fed Sinks Commodities (Bloomberg)
Oil traded below $35 a barrel and headed for a third weekly decline amid a surge in U.S. inventories and the first interest rate increase by the Federal Reserve in almost a decade.
Politics
‘Super PAC’ Supporting Jeb Bush Attacks Donald Trump in New Ad (NY Times)
Right to Rise, the “super PAC” supporting Jeb Bush’s campaign, moved quickly to capitalize on Mr. Bush’s well-received exchange with Donald J. Trump in Tuesday’s debate with this ad, titled “Tough Enough.”
Bernie Sanders’ campaign disciplined for breaching Hillary Clinton data (Market Watch)
The Democratic National Committee has told the presidential campaign of Bernie Sanders that it is suspending access to the DNC voter database after at least one of Sanders’ staff members reviewed Hillary Clinton’s private campaign data.
The New York Times writes a software error inadvertently made proprietary voter data of Clinton’s campaign visible to others. The Sanders campaign said it has fired a staff member who breached Clinton’s data, the Times reported. But, the Times wrote, there were four user accounts associated with the Sanders campaign that ran searches while the security of the Clinton data was compromised.
Technology
Scientists Ponder How to Create Artificial Intelligence That Won't Destroy Us (Bloomberg)
The creators of artificially intelligent machines are often depicted in popular fiction as myopic Dr. Frankensteins who are oblivious to the apocalyptic technologies they unleash upon the world. In real life, they tend to wring their hands over the big questions: good versus evil and the impact the coming wave of robots and machine brains will have on human workers.
Robots Are Making Adorable Paper Snowflakes To Give Us a False Sense of Security (Gizmodo)
Dear robots of the world, don’t for a second think you’re fooling us with adorable demonstrations of your crafting capabilities this holiday season. Because one second you’re making paper snowflakes, and the next you’re using those same scissors to usurp your human handlers. We’re on to you!
Health and Life Sciences
Genomics Can Improve Health Care–Right Now (Scientific American)
A tale of three sisters offers a glimpse into how, with the right systems in place, genomics research can already be applied to alleviate human suffering.
In January 2007 Jesse and Anna, members of an Old Order Amish settlement in Pennsylvania, brought their daughter Esther to the Clinic for Special Children in Strasburg, Pa. (For privacy, pseudonyms are used for all children mentioned in this article.)
Antibiotics Often Enough for Kids' Appendicitis (Medicine Net)
Treatment with antibiotics alone can be a safe and effective alternative to surgery for children with uncomplicated acute appendicitis, according to a new study.
The study was led by Dr. Peter Minneci and Dr. Katherine Deans, co-directors of the Center for Surgical Outcomes Research at The Research Institute, part of Nationwide Children's Hospital in Columbus, Ohio.
Life on the Home Planet
Beijing Issues a Second ‘Red Alert’ on Pollution (NY Times)
The Chinese capital issued a “red alert” for air pollution on Friday morning, saying it was enacting for the second time the highest-level emergency pollution plan in advance of a prolonged spell of smog that is predicted to smother Beijing and elsewhere in northern China this weekend. The crisis measures were expected to start Saturday and last for four days.
Mother Teresa to become a saint (Market Watch)
Pope Francis has approved the second miracle of Mother Teresa of Kolkata, clearing the way for the late missionary to become a saint, the Vatican announced Friday.
The Vatican didn’t provide further details, but according to a report in Avvenire, the official newspaper of the Italian Catholic bishops’ conference, Mother Teresa’s canonization would probably occur on Sept, 4, 2016, the day before her feast day.
World's refugees and displaced exceed record 60 million: U.N. (Reuters)
The number of people forcibly displaced worldwide is likely to have "far surpassed" a record 60 million this year, mainly driven by the Syrian war and other protracted conflicts, the United Nations said on Friday.
