Bloomberg:
- S&P 500 Crosses 2,700. (graph) U.S. stocks plowed into the new year in much the same way they performed throughout 2017: breaking records and passing milestones. The S&P 500 Index pushed its two-day gain to as much as 1.3 percent, surpassing 2,700 for the first time Wednesday as technology companies added to last year’s 37 percent rally and analyst upgrades stoked gains in consumer-discretionary shares. The latest 100-point surge is the fifth in less than 12 months.
- Inside the Fed’s December Meeting: The Annotated Minutes. Are concerns about low inflation approaching a tipping point?
- Las Vegas's Economy Is on the Brink of a Boom. That housing-bust hangover couldn't last forever.
- How Much Can Buybacks Rise on Tax Cuts? This Estimate Says 70%. (video)
Wall Street Journal:
- North and South Korea Test Revived Hotline, Signaling Tentative Thaw in Tensions. Move highlights differences between Seoul and Washington over how to deal with Pyongyang.
- Busting Illusions About Iran. Trump puts America on the side of the people, not the Ayatollahs.
- Top Lawmakers to Meet With White House Officials to Tackle Spending Talks. Republicans push for military boost; Democrats want an equal increase in spending on nondefense agencies.
- U.S. Car Sales Are Set for Their First Annual Decline Since Financial Crisis. The auto industry’s 2017 tally fell short of the record set in 2016.
- A Hedge-Fund Titan Puts Away the Punch Bowl. Ray Dalio of Bridgewater sees Americans’ debt as a coming drag on growth and markets.
Zero Hedge:
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