Monday, January 23, 2017

Today's Headlines

  • China Stock Trading Most Muted Since 1992 as State Tightens Grip. Chinese stocks haven’t been so subdued since 1992 as government efforts to maintain stability as well as tightening liquidity deter traders. A gauge of 90-day volatility on the Shanghai Composite Index fell to a 24-year low at the end of December and has barely budged since, while turnover on the nation’s equity exchanges slumped to the lowest in two years last week. The benchmark measure added 0.4 percent to 3,136.78 at the close. China’s markets will be shut for a week-long holiday from Friday.
  • Russia Wrests Crown of Top China Oil Supplier From Saudi Arabia. Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market. Russia boosted crude supply to the Asian nation by 24 percent from 2015 to 52.5 million metric tons, or 1.05 million barrels per day, according to data released Monday by the General Administration of Customs. The Middle Eastern kingdom became the second-biggest supplier, shipping 51 million tons, or 1.02 million barrels per day, little changed from a year earlier.
  • Mexican Peso Leads Emerging-Market Gains as Dollar Dips on Trump. (video) The MSCI Emerging Markets Currency Index advanced 0.4 percent to the highest level on a closing basis since Nov. 9, the day after the U.S. election.
  • European Stocks Slide to 3-Week Low as Trump Spurs Trade Angst. (video) European stocks declined, while volatility surged, as Donald Trump ordered the U.S. to withdraw from the Trans-Pacific Partnership trade deal. The Stoxx Europe 600 Index lost 0.4 percent at the close, after retreating as much as 0.7 percent. Banks and energy shares fell the most, while gains in miners tempered the benchmark’s declines. Trump also prepared to sign executive orders to renegotiate the North American Free Trade Agreement, according to an official familiar with the plans.
  • Aetna’s(AET) $37 Billion Humana Takeover Blocked by Judge.
  • Blue States Are Joining Forces in Court to Protect Obama's Legacy. Attorneys general from 16 states banded together to join a federal appeals court battle in defense of the 5 1/2-year-old Consumer Financial Protection Bureau, the latest sign of state-level Democrats combining resources to shield former President Barack Obama’s legacy.
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