- U.S. Stocks Eke Out Weekly Gain, Led by High-Dividend Companies. U.S. equities rose this week thanks largely to advances in companies with high dividends that investors turn to when bond yields fall. The S&P 500 Index added 0.2 percent to 2,378.25. The biggest boost came Wednesday after the Federal Reserve raised the benchmark lending rate a quarter point and maintained its projection for two more increases this year. At the same time, the Bloomberg Economic Surprise Index advanced for the fourth straight week as data from payrolls to inflation figures met or exceeded estimates. The Dow Jones Industrial Average was little changed at 20,914.62. The Russell 200 Index jumped 1.9 percent, the most since December.
- G-20 Nations Renew Commitment to Global Bank-Capital Overhaul. Finance chiefs of the Group of 20 nations renewed their pledge to finalize an overhaul of global bank-capital rules, but stopped short of making progress on certain proposals that have led to a standoff between Europe and the U.S. In the statement capping a two-day meeting in the German town of Baden-Baden, the G-20 urged the Basel Committee on Banking Supervision to finalize the Basel III reforms “without further significantly increasing overall capital requirements,” sticking to previous language. After the work already missed a year-end deadline, the document didn’t include a new time frame.
- China Home-Price Rises Regain Speed, Defying Purchase Curbs. China home prices rose last month in more cities despite increased restrictions on property transactions by local authorities. New home prices, excluding subsidized housing, gained in February in 56 out of 70 cities tracked by the government, compared with 45 in January, the National Bureau of Statistics said Saturday. Prices climbed in 67 out of 70 cities from a year earlier, compared with 66 in January.
- Tim Cook Says Apple(AAPL) Not Aiming for Specific China Market Share. Apple Inc. doesn’t have a specific goal for market share in China, where it faces the fiercest local competition anywhere, Chief Executive Officer Tim Cook said. China has unique characteristics, in that its mobile payment market is well ahead of the U.S. and local consumers have a greater willingness to change habits, Cook said at a panel discussion at the China Development Forum in Beijing. He added that Apple’s new research and development centers in the country should help the company reach China’s university community.
- Buffett Opposes Proposal to Disclose Political Donations. Berkshire Hathaway Inc. investors will have a chance to vote on three shareholder resolutions opposed by Chairman Warren Buffett and his board, including a call for the firm to disclose any political contributions. Other proposals by shareholders would push Berkshire to divest holdings in companies that produce fossil fuels, and set targets for cutting methane emissions related to its operations, according to a proxy filing issued Friday. Berkshire said that its board unanimously opposes all three proposals.
Wall Street Journal:
- Bidding Process for U.S. Border-Wall Construction Begins. Requests for proposals are latest steps in push to fulfill campaign promise—despite significant legal, logistical challenges.
- Treasury’s Mnuchin Fends Off Push to Reject Protectionism. G-20 finance chiefs fail to reach agreement on language rejecting protectionism, signaling rift on trade.
- Tillerson Treads a Fine Line in China Talks Amid North Korea Tensions. Meeting follows comments from U.S. secretary of state that military action toward North Korea is an option.
- Trump Wins: G-20 Drops 'Anti-Protectionist, Free-Trade, & Climate-Change Funding' Commitment.
- Trump Warns Germany "Owes Vast Sums To US... Must Be Paid For Defense".
- Row Breaks Out At G-20 Over Future Of Global Trade.
- Radicalized Muslim Killed After Seizing Soldier's Gun At Paris Orly Airport In Terrorist Attack.
- These Are The Most Dangerous Countries For American Tourists.
- Oil Shorts Soar By 2nd Most In History As OPEC Hope Fades. (graph)
- Yardeni Warns "Late In The Game To Be A long-Term Investor" In Stocks.
- Trump Thinks Your Car's Gas Mileage Is... Your Business.
- Laptop With "Highly Sensitive" Trump Data, Clinton Email Probe Info Stolen From Secret Service Agent.
- Beijing Goes Global: China Expands Marine Force 400%; First Overseas Military Base Almost Complete.
- Trump's Budget A First Step Toward De-Politicizing Science.
- Americans Will Be The Loser In The Fed's Dangerous Game Of "Chicken".
- The Debt Ceiling Deadline Has Passed; Now The Biggest Test Of Donald Trump's Presidency Begins...
- Why The Fate Of The World Economy Is In The Hands Of China's Housing Bubble.
- Stocks Sink On 'Quad Witch' As Dollar Suffers Worst Week In 8 Months. (graph)
- Why Is Goldman On A Buying Spree For Delinquent Mortgages.
- Weekend Reading: Just Buy Everything.
- US housing starts were on a record upswing in February.
- Tillerson finally speaks: 'The threat of North Korea is imminent'.
- Meet the 8 hedge fund managers who made the most money in 2016.
- Airline stocks just got a lot more bullish.
- Wall Street banks are bullish on oil despite the jump in Saudi Arabia's output.