News You Can Use From Phil’s Stock World

Financial Markets and Economy

Trump-Trade Reversal Sees European Stocks Losing More Ground (Bloomberg)

Winners and losers among European stocks in the immediate aftermath of Donald Trump’s election victory swapped places on Friday, sending equities lower.

Euro Heads for Worst Week in a Year on Increased Political Risks (Bloomberg)

Markets in the euro region potentially have turbulent period ahead with an Italian constitutional referendum in December and elections in France, Germany and the Netherlands next year that may kick out ruling parties or coalitions and overturn economic policies.

More Political Turmoil Is Coming, According to Investors After Trump's Win (Bloomberg)

The unexpected election of an president who's never held political office is merely a layover on the way to a fresh peak in political-risk premiums, according to 57 percent of investors who responded to a survey conducted by Bank of America Merrill Lynch in the aftermath of the vote.

S&P Says It's Difficult to Fathom How U.K. Can Avoid Hard Brexit (Bloomberg)

The U.K. is probably headed for a hard Brexit and, alongside the “schisms” in British society that the referendum has revealed, the economic fallout remains a risk, according to S&P Global Ratings.

Britain's most senior economist says the economy is like a 'colourless, inanimate rocking horse' (Bloomberg)

Bank of England Chief Economist Andy Haldane says that the economy is like a "colourless, inanimate rocking horse" and warned that economists at large are in danger of being "insular" and "self-referential" and must expand their horizons if the discipline wants to improve going forward, particularly when it comes to forecasting.

‘No Vacancy’ Signs Are Vanishing From America’s Highways (Bloomberg)

You’ve been driving for a good chunk of the day, you’re pulling into an unfamiliar town, and you need a place to stay for the night. Happily, there’s a comforting sight just ahead—a motel with an illuminated “Vacancy” sign, the “No” thankfully darkened.

Stock markets are predicting disaster in London property prices post-Brexit (Business Insider)

An Irish property tycoon says London's property market is "tanking by the day" in the wake of Brexit, with financial markets forecasting the second biggest ever collapse in the value of office and retail space in the capital.

Vietnam To Turn Its Back On Massive Pacific Rim Trade Pact After Trump Victory (Forbes)

The Trans Pacific Partnership, a U.S.-led trade pact encompassing 40% of the world economy, isn’t “confirmed dead,” to borrow language from an equity research firm in Hanoi. But unless it passes the U.S. Congress before Donald Trump takes office in January, the tariff-cutting agreement is just taking up space in some ICU before undertakers arrive.

Trump-driven opening rally in European stocks cools (Market Watch)

The Stoxx Europe 600 index SXXP, -0.28% was up 0.2% at 339.41, but it had been higher by as much as 0.7%. Defensive sectors such as utilities SX6P, +1.05%  and consumer staples were in favor after losing ground on Thursday.

OPEC output jump casts doubts over production cut (The Wall Street Journal)

The Organization of the Petroleum Exporting Countries pumped more crude oil last month even as the group geared up to complete a plan to cut output at its meeting at the end of this month in an effort to stabilize oil prices.

China Car Sales Take Foot off the Gas (The Wall Street Journal)

SHANGHAI—China’s new car deliveries rose 20% in October compared with the same month a year earlier, the slowest pace of growth in four months as a rush by consumers to tap a tax break on vehicle purchases appeared to be leveling off.

Could a Trump Presidency Lead to a Stock Market Bubble? (A Wealth Of Common Sense)

The people who have been wrong about this outcome for so long will be the same ones who will tell you exactly how it will play out from here. They will be wrong again. The people who were right about this outcome, but for the wrong reasons, will do the same.

Companies

With Donald Trump’s surprising victory, Silicon Valley is having a meltdown (Recode)

That reality landed Wednesday morning to the kind of welcome the tech community usually reserves for an unexpected cyber attack. In Lisbon, Portugal, where thousands of Silicon Valley and New York techies have convened for the annual Web Summit conference, many people woke up to texts and Slack notifications alerting them to the shocking news most Americans had swallowed before heading to bed Tuesday night.

Michael Kors Gives Downbeat Holiday Outlook as Profit Slides (The Wall Street Journal)

Michael Kors Holdings Ltd. lowered its revenue and earnings outlook for the fiscal year and released a downbeat forecast for the key holiday season, defying the hopeful signs reported among the retail sector Thursday.

Wells Fargo CEO Says Bank Is Changing How It Handles Whistleblower Complaints (Fortune)

Wells Fargo Chief Executive Officer Tim Sloan told workers on Thursday the bank was changing the handling of whistleblower complaints after allegations it retaliated against employees who called an ethics hotline to report sales abuses.

J.C. Penney Reports Surprising Sales Decline (The Wall Street Journal)

J.C. Penney Co. posted a surprising decline in sales, citing softness in apparel, and lowered a key sales metric.

Technology

Grubhub CEO faces backlash over anti-Trump comments (CNN Money)

Grubhub CEO Matt Maloney is insisting that he was advocating for "inclusion and tolerance" when he told employees who agree with Donald Trump's rhetoric that "you have no place here."

Will HP Enterprise Pay $3.9 Billion For SimpliVity? (Forbes)

Hewlett Packard Enterprise may be poised to buy SimpliVity — the Westborough, Mass.-based second-ranked hyperconvergence infrastructure (HCI) vendor — for $3.8 billion to $3.9 billion, according to The Register.

Facebook buys CrowdTangle, a social analytics tool for publishers (Venture Beat)

CrowdTangle appears to be most popular with media companies — customers include NPR, the BBC, BuzzFeed, and Vox — but the service also boasts of customers across marketing agencies, sports leagues, and nonprofits.

DJI improves the performance of its largest drone (Tech Crunch)

DJI sure seems to be squeezing a lot out of the final months of the year. While other hardware makers are working to push holiday gifts out the door, the company is making some upgrades to products that likely won’t end up under too many trees this December –though flying into them is another story entirely.

Nintendo's mini NES is out today (Engadget)

You may want to ready your wallets and your mouse-clicking fingers for the NES Classic's launch today. Some fans who attended the midnight event at Nintendo's New York offices were already able to get one, but don't worry: you can grab your own from several retailers.

A closer look at Snapchat Spectacles (Mashable Asia)

Snapchat's Spectacles are here and they are as cool as they look. Costing $130, the glasses will let you take up to 400 snaps per charge. Not bad. 

Nissan's 2017 Juke Black Pearl Edition Shows Off Customization Possibilities (Digital Trends)

The Nissan Juke crossover offers one option you probably won’t find on most other cars. The Juke Color Studio allows buyers to mix and match exterior and interior trim to create funky color combinations. To demonstrate the possibilities of this perk, Nissan will debut a special edition Juke next week at the 2016 Los Angeles Auto Show.

USB stick HIV test promises results in 30 minutes (CNet)

Researchers from Imperial College London and DNA Electronics have developed an HIV test on a USB stick that could make it easier for patients to monitor their health.

Politics

Democrats, Trump, and the Ongoing, Dangerous Refusal to Learn the Lesson of Brexit (The Intercept)

THE PARALLELS BETWEEN the U.K.’s shocking approval of the Brexit referendum in June and the U.S.’s even more shocking election of Donald Trump as president Tuesday night are overwhelming. Elites (outside of populist right-wing circles) aggressively unified across ideological lines in opposition to both.

It was the Democrats' embrace of neoliberalism that won it for Trump (The Guardian)

They will blame James Comey and the FBI. They will blame voter suppression and racism. They will blame Bernie or bust and misogyny. They will blame third parties and independent candidates. They will blame the corporate media for giving him the platform, social media for being a bullhorn, and WikiLeaks for airing the laundry.

Why politicians should consider transferring Social Security’s legacy debt to the Treasury (Market Watch)

As policy makers consider ways to put Social Security’s finances on a stable path, they should recognize that current and future workers are paying a lot for their Social Security benefits.

A rash of racist attacks have broken out in the US after Donald Trump’s victory (Quartz)

In his acceptance speech on Nov. 9, US president-elect Donald J. Trump made a pledge of unity, promising to be a leader for “all Americans.”

But some of his supporters have not heard that message.

Trump win opens way for China to take climate leadership role (Reuters)

The election of climate change skeptic Donald Trump as president is likely to end the U.S. leadership role in the international fight against global warming and may lead to the emergence of a new and unlikely champion: China.

Why People Are Being Told to Move to Massachusetts Instead of Canada (Fortune)

For those who couldn’t get through to the overwhelmed Canadian immigration website this week or realized that moving to the Great White North in the wake of Donald Trump’s election is trickier than expected, there is another option: The Bay State.

Harry Reid Reminds Nation That Donald Trump Is ‘A Sexual Predator Who Lost The Popular Vote’ (The Huffinton Post)

Senate Minority Leader Harry Reid (D-Nev.) on Friday reacted to Donald Trump winning this week’s presidential election, releasing a statement saying Americans should not forget the hatred and fear the president-elect brought to the country.

Russia says it was in touch with Trump's campaign during election (Reuters)

The Russian government was in touch with members of President-elect Donald Trump's political team during the U.S. election campaign and knows most of his entourage, one of Russia's most senior diplomats told the Interfax news agency on Thursday.

Health and Biotech

The Power of Placebo: How Our Brains Can Heal Our Minds and Bodies (Scientific American)

In his new book, Suggestible You: The Curious Science of Your Brain's Ability to Deceive, Transform and Heal (National Geographic Publishing, November 2016; 288 pages), science writer and Scientific American contributor Erik Vance seeks to explain one of our brain’s most remarkable powers: its ability to heal both mind and body.

Researchers just discovered a safer way to produce one of our most vital drugs (Science Alert)

This is a big deal, because right now, heparin is created using animal tissue, which can be contaminated and can cause severe adverse reactions. The possibility of using human cells instead – from a genetically engineered human cell line – will make the drug safer, more effective, and keep animals out of the process.

Using egg leftovers could double the number collected in IVF (New Scientist)

Could this be a way to boost a flagging reserve of eggs? A technique that uses an egg’s genetic leftovers could double the number of eggs collected in IVF. The method would require another person to donate healthy eggs, but the resulting embryos would be genetically related to the initial woman.

Trump's Victory and the Neuroscience of Rage (Scientific American)

Pollsters, politicians, much of the press and public are dismayed by Donald Trump’s surprising victory in the presidential election, but not neuroscientists. The bewilderment arises from an attempt to comprehend the election result rationally, but rage, not reason, is what drove people to put Trump in the White House.

Life on the Home Planet

This intense eye in the sky is the result of two massive galaxies colliding (Science Alert)

The repercussions of two galaxies colliding with one another have generated a bizarre cosmic phenomenon – swirling arcs of star formation that seemingly resemble a human eye.

Beagle Mars probe probably didn’t crash, new analysis shows (New Scientist)

A failed space probe thought to have crash-landed on Mars more than a decade ago came much closer to success than previously thought, new research shows.

Gunmen In Philippines Kidnap Six Vietnamese Sailors Near Abu Sayyaf Heartland (Newsweek)

Approximately 10 gunmen launched a dawn attack on the MV Royal 16, boarding the vessel and fleeing with their captives in speedboats, according to regional military spokesman Major Filemon Tan. Their fate and current status remain unknown.

Iraqi special forces seize Mosul district in fresh push (Reuters)

Iraqi special forces said they pushed deeper into Mosul on Friday despite heavy resistance from Islamic State militants using civilians as cover, and were holding half a dozen city neighborhoods seized in the last 10 days.

Turkey detains chairman of opposition Cumhuriyet daily, paper says (Reuters)

Turkish police detained the chairman of opposition newspaper Cumhuriyet at Istanbul's main airport on Friday, less than a week after nine of its executives and journalists were formally arrested, the paper said.

Islamic State executes scores, stockpiles chemicals in Mosul: U.N. (Reuters)

Islamic State fighters have executed scores more people around the northern Iraqi city of Mosul this week and are reported to be stockpiling dangerous chemicals in civilian areas, the U.N. human rights office said on Friday.

La Niña Has Arrived (Gizmodo)

It teased us with the possibility of a no-show this summer, but a weak La Niña has officially arrived, according to NOAA. Parts of the northern United States can expect a cooler and wetter-than-average winter, while southern California, unfortunately, can expect more drought.