Monday, February 13, 2017

Today's Headlines

Posted by Gary .....at 2:45 PM
Bloomberg:
  • Le Pen Calls Rioters Scum as Violence Roils Paris Suburbs. (video) Marine Le Pen, the anti-immigration candidate in France’s election, unleashed a social-media campaign attacking minority communities after successive nights of violence in the ghettos around Paris. Some satellite towns around the capital have seen violent protests almost every night since Feb. 5 when four policemen were charged with attacking a young black man in Aulnay-sous-Bois, close to where riots erupted 12 years ago. Police have made multiple arrests, including last night, Agence France-Presse reported.
  • Europe Stocks Rise to Highest Since 2015 on Economic Optimism. European stocks advanced to their highest level since December 2015 in a broad rally underpinned by higher raw-materials prices and forecasts of stronger inflation. The Stoxx Europe 600 Index closed 0.8 percent higher, with the mining sector hitting its highest level since 2014 as metals prices climbed for a second day. The European equity gauge rose for a fifth day, in its longest climbing streak since December, as markets in both Asia and the U.S. rose.
  • Kuwait Says OPEC Leaning on Non-Members to Cut More Oil Output. OPEC is urging oil suppliers outside the group to fulfill their commitments to cut output, and crude prices will rise once producers demonstrate better compliance with their agreement to clear a global glut, Kuwait’s oil minister said. The Organization of Petroleum Exporting Countries, which agreed to the cuts with 11 other oil-producing nations in December, is 92 percent compliant with its pledge to reduce output by 1.2 million barrels a day, Oil Minister Essam Al-Marzooq told reporters Monday in Kuwait City. Non-OPEC producers are complying at a lower rate of more than 50 percent, he said. “At the time when producers signed the deal, the initial commitments were to gradually increase cuts until April and May, so we were expecting to see some producers not fulfilling the 100 percent cuts,” Al-Marzooq said. “We understand the circumstances, and in February we are talking to non-OPEC producers to raise their cuts according to their commitments.” 
  • U.S. Consumer Inflation Expectations at 19-Month High, Fed Says. (video) U.S. households’ expectations for consumer price inflation rose to the highest level since mid-2015, according to a Federal Reserve Bank of New York survey. The median survey respondent reported an expected inflation rate last month of 2.9 percent three years ahead, up from 2.8 percent in December, according to results released Monday by the New York Fed. Expected inflation for one year from now rose to 3 percent, from 2.8 percent the month earlier.
  • Verizon(VZ) offers unlimited data as mobile competition heats up.
Wall Street Journal: 

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