Bloomberg:
- Trump Team Plans $250 Billion in Deals From China Visit. (video) The White House expects to announce upwards of $250 billion in business deals in China this week, an administration official said -- exactly the sort of U.S. jobs-based diplomacy that President Donald Trump likes to deliver when traveling abroad. Commerce Secretary Wilbur Ross boasted of that number in a meeting with chief executives in China on Wednesday, but offered few details, according to two people who attended the meeting. A U.S. official confirmed the amount. The details of the pending deals couldn’t be immediately learned on Wednesday. Many of the deals are expected be in the form of nonbinding memorandums of understanding, not contracts.
- China Traders Take on Risk as Margin Debt Tops One Trillion Yuan. Chinese stock traders are boosting the use of borrowed money to increase their buying power. Outstanding margin debt on local bourses climbed above 1 trillion yuan ($151 billion) on Monday for the first time since January 2016 as the Shanghai Composite Index rallied 12 percent from this year’s low in May. That’s helping lifting sentiment toward brokerages, with Citic Securities Co. rising to a one-month high on Wednesday. Still, with the government emphasizing the need for stability and reduced leverage in the financial sector, any sharp increase in borrowed money is unlikely. Margin debt -- which helped fuel the boom to bust two years ago -- is still less than half of its 2015 peak, and has barely increased as percentage of market capitalization this year. New investors have also not rushed in.
- Your Evening Briefing.
- U.S. Copper Premium Holds Steady After Years-Long Drop. The world’s biggest copper producer is set to maintain its fee for physical delivery of the metal to the U.S., ending at least four years of declining premiums, according to people with direct knowledge of the matter. Codelco, Chile’s state-owned copper giant, will agree to charge about 2.5 cents a pound on top of the price traded in New York for metal delivered to southern U.S. ports in 2018, the people said, asking not to be identified because talks are private. The Santiago-based company declined to comment on negotiations.
- Here Are Five of Jim Coulter's Big Investment Themes for 2018.
Wall Street Journal:
- Trump’s China Trip Brings Admonitions on North Korea, Along With Business Deals. After fiery speech aimed at Kim Jong Un, U.S. and China announce deals valued at $9 billion.
- Look Inside the DeVos Family Office. Financial disclosures provide a rare peek inside an investment structure used by ultrawealthy families.
- The Anti-Trump Wave. Democrats come out in droves and the GOP is caught in the undertow.
- In Virginia, Democrats Learn the Shape of an Anti-Trump Coalition. Northam won by nearly double Clinton’s margin, riding wave of energy that carried down ballot.
- House Lawmakers Face $74 Billion Revenue Gap in Tax Bill After Amendments. Changes to the tax bill made by Republicans Monday night removed 95% of a key revenue-raising provision.
- China’s Tencent Buys 12% Stake in Snap(SNAP). Purchase adds to an investment Tencent made in parent of Snapchat in 2013 before company went public.
- U.S. Regulator Signals Shift on Leveraged Lending Enforcement. Acting Comptroller of the Currency Keith Noreika criticizes crackdown on big banks’ lending to heavily indebted companies.
CNBC:
- Wall Street's biggest bulls see another 10% gain coming in 2018.
- Wall Street can’t catch up to this surging tech stock. (video)
- DOJ demands CNN to be sold as condition for AT&T, Time Warner deal approval. (video)
- Kroger(KR) is using Google(GOOG) and Microsoft(MSFT) clouds to avoid paying Amazon(AMZN).
- Here's how I think Apple's(AAPL) new smart glasses and rOS software will work, and why we should be excited.
- Senate tax plan will not include controversial 20% excise tax on imports by multinational companies: Sources. (video)
- Why Virginia election results aren't a huge disaster for Trump and the GOP. (video)
- Stocks seeing rare stretch of 'overbought' conditions, and Bespoke's Paul Hickey calls it 'impressive'. (video)
Zero Hedge:
- Real Motive Behind Saudi Purge Emerges: $800 Billion In Confiscated Assets.
- Bitcoin Explodes To $7900 After Hard Fork Suspended. (graph)
- NBCUniversal Says NFL's Partners Haven't Followed Through With Threats To Pull Ads...Yet.
- When Gunmen Strike, You're On Your Own.
- "Fully Self-Driving Cars Are Here" - Waymo To Begin Testing Driver-Free Autonomous Taxis In Phoenix.
- One Year Later: These Are The Best And Worst Performing Assets Under President Trump. (graph)
- 'Take That OPEC' - WTI Slides As US Crude Production Jumps To Record High.
- Repealing Obamacare's Individual Mandate Would Save $338 Billion.
- Trump Receives Hero's Welcome In Beijing As Chinese Roll Out The Red Carpet.
- Sabotage?: Hillary's Fusion GPS Operative Met With Russian Lawyer Before And After Trump Jr. Meeting.
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