Thursday, February 16, 2017

Today's Headlines

  • Tillerson Condemns North Korea Test as U.S. Policies Take Shape. U.S. Secretary of State Rex Tillerson vowed that North Korea’s violations of United Nations Security Council resolutions will bring an “even stronger international response,” using a Group of 20 meeting in Germany to reiterate the U.S. stance on the North’s nuclear program and other top foreign-policy challenges. The statement, issued jointly with the foreign ministers of Japan and South Korea after Tillerson met with his counterparts on the sidelines of the G-20 meeting in Bonn, condemned “in the strongest terms” a Feb. 12 ballistic missile test and noting the North’s “flagrant disregard” for UN Security Council resolutions.
  • European Stocks Decline to End Seven-Day Rally. (video)
  • Frenzied Betting, Sleeping Market: Something Must Give in Oil. (video) As hedge funds and money managers place record trades on a rally in oil, the price itself has fallen asleep. Logic dictates that something should give. Here are five charts examining the unprecedented speculative build-up and what the market’s next turn might be.
  • Goldman(GS) Sees Metal Rally in Sight on Rerun of '08 China Stimulus. A rerun of China’s massive stimulus during the financial crisis is set to offer another boost to global metals prices, according to Goldman Sachs Group Inc. Strong credit expansion has “remarkably bullish” implications for the nation’s metals-intensive industries as fixed-asset investment and manufacturing are poised to accelerate, the bank said in a report. New lending to the so-called old economy in December and January jumped by 1.1 trillion yuan ($160 billion) from a year earlier, equivalent to more than one and a half years of U.S. President Donald Trump’s mooted infrastructure package, it said.
  • These Are the Stocks That Have Lagged Under Trump. For clues on the strength of the current rally in developed-market equities, take a look at stocks that have trailed since Donald Trump was elected. They’re in sectors such as real estate, utilities, consumer staples and telecommunications which underperformed cyclical stocks in the aftermath of the presidential vote. Although they lagged behind as investors preferred shares tied to the economic growth, they are now joining the party.
  • Tesla(TSLA) Workers' Union Push Gets UAW Support at California Plant.
Wall Street Journal:
Zero Hedge:

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