- Federal Reserve Governor Jerome Powell urged Congress to rewrite the Volcker Rule that restricts proprietary trading, while urging “a high degree of vigilance” against the buildup of financial risks amid improving U.S. growth. “What the current law and rule do is effectively force you to look into the mind and heart of every trader on every trade to see what the intent is,” Powell said Saturday at the American Finance Association meeting in Chicago. “Is it propriety trading or something else? If that is the test you set yourself, you are going to wind up with tremendous expense and burden.”
- Airlines including Delta Air Lines Inc. and American Airlines Group Inc. canceled hundreds of flights early Saturday as an icy winter storm struck U.S. southeast cities. The National Weather Service warned of hazardous conditions in areas including Atlanta, a Delta hub, and Charlotte, North Carolina, an American hub. As ice and snow piled up, more than 350 flights were canceled at Hartsfield-Jackson Atlanta International Airport and more than 100 at Charlotte Douglas International Airport, according to flight-tracking website FlightAware.com.
Wall Street Journal:
- Six Tweets in 80 Minutes: Trump Gives New Congress a Taste of What’s to Come. President-elect’s rapid-fire missives don’t conform to typical Washington political tactics.
- Had bullish commentary on (NXPI), (EXPE), (KKR), (GOOGL), (C), (ALLY), (APA) and (NVDA).
- Ft. Lauderdale Airport Shooting: Gunman Kills 5, Injures 8; Is Unharmed And In Custody; No Second Shooter.
- Florida Shooter Had Been Sent To A Mental Hospital Over "ISIS Ties", Was Investigated For Child Porn.
- "They Lost So Big" - Trump Blasts "Embarrassed Democrats" For Russian Hacking Report.
- German Vice Chancellor Says "European Break Up No Longer Unthinkable".
- China's $3 Trillion In Reserves Questioned After PBOC Reports $41 BIllion In December Outflows. (graph)
- Goldman Slams Reports Of A "Great Rotation" From Bonds To Stocks As "Fake News".
- Pedro Da Costa Warns "Markets Are Ignoring Risk Of Devastating Trump Trade War".
- Citi: "There Is Something Strange Going On... Something Doesn't Smell Right".
- The False Economic Recovery Narrative Will Die In 2017.
- Worst. Recovery. Ever. (graph)
- China Launches Bitcoin Crackdown: PBOC Will Probe Abnormal Investor Behavior "And Rectify Misbheavior".
- In Stunning Last Minute Power Grab, Obama Designates Election Systems As "Critical Infrastructure".
- NYC Homelessness Record High Despite Falling Unemployment Rate.
- Wall Street's Top Permabull Suddenly Becomes Its Biggest Bear.
- How The US Could Win A Trade War With China.
- Here Is The US Intel Report Accusing Putin Of Helping Trump Win The Election By "Discrediting" Hillary Clinton.
- This Won't End Well.
- John Harwood Asks "Who Do You Believe America?" - Gets Surprising Answer.
- Weekend Reading: The Beginning Of The Ending.
- "19,999.63!". (graph)
- In a revealing interview with Henry Blodget, Ray Dalio offers a radical solution to the threat of 'fake news' and details life inside Bridgewater.
- The biggest healthcare investor conference is happening next week — here are the 5 things we expect to get out of it.
- The 'car recession' is sinking America's largest automakers.
- US gasoline demand could be headed towards permanent decline.
- Joe Biden steamrolled Democrats objecting to Trump’s Electoral College victory.
- Here's which parts of Mexico's economy will get slammed if Trump puts his Twitter threats into action.
- Blizzards, Icy Weather Continue Their Grip on Europe. Heavy snowfall and below-freezing temperatures continued to sweep across the European continent Saturday causing more than a dozen deaths, and grounding airplanes and crippling ferries in Italy and Turkey.