Today's Headlines

Bloomberg:

• World Bank Raises Outlook as Growth Hits Fastest Pace Since 2011. The World Bank lifted its forecast for global growth, predicting the global recovery will continue to gain steam after reaching the fastest clip in six years. The development lender raised its estimate for global economic growth for this year to 3.1 percent, up 0.2 percentage point from an estimate in June, it said Tuesday in its latest Global Economic Prospects report. The world economy probably expanded 3 percent last year, which would be the fastest pace since 2011. Global growth is expected to last for at least the next couple of years, as conditions improve for commodity exporters hurt by the oil crash, said the Washington-based lender. Increased investment and manufacturing activity is driving a broad cyclical recovery, aided by benign financial conditions, loose monetary policy and improved confidence, it said.

• Oil Prices Continue 2018 Climb as U.S. Stockpiles Fall. (video)

• Bank of China Sees Commodities in Full Bloom Amid 2018 Rotation. (video)

• Bitcoin Could End Up Using More Power Than Electric Cars. The global power needed to create cryptocurrencies this year could rival the entire electricity consumption of Argentina and be a growth driver for renewable energy producers from the U.S. to China. Miners of bitcoin and other cryptocurrencies could require up to 140 terawatt-hours of electricity in 2018, about 0.6 percent of the global total, Morgan Stanley analysts led by Nicholas Ashworth wrote in a note Wednesday. That’s more than expected power demand from electric vehicles in 2025.

• Fed’s Evans Wanted Rates on Hold Until Mid-2018 to Lift Inflation.

Wall Street Journal:

• The Best and Worst U.S. Airlines of 2017. Delta(DAL) dethrones Alaska in the Journal’s annual analysis of U.S. carriers, while American climbs out of the cellar. 

• A Glimpse of Brilliant, Necessary and/or Totally Crazy Technologies to Come.

• In France, Some Say #MeToo Has Gone Too Far. Actress Catherine Deneuve sparks a fight with a letter arguing the campaign against sexual harassment undermines sexual liberation.

• New York City Sues Oil Companies Over Climate Change. BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell are named in lawsuit.

• Advisers at Leading Discount Brokers Win Bonuses to Push Higher-Priced Products. At Fidelity, Schwab and TD Ameritrade, employees win extra pay and other incentives to put clients in products that are more lucrative for them, and the firm.

MarketWatch.com:

• Here’s what could trigger a 30% stock-market melt-up, says investor Bill Miller.

• U.S. stock gains so far this month suggest a profitable 2018.

Fox News:

• Trump blasts 'sneaky Dianne Feinstein' for releasing Fusion GPS transcript.

CNBC:

• Home equity hits record high, and here's how homeowners are spending it.

• Immigration agents raid dozens of 7-Eleven stores.

• The Fed, worrying about the next recession, considers changes.

• Trump DACA compromise would risk GOP chances in 2018 and beyond.

• Oil prices are close to levels not seen since the Thanksgiving 2014 bloodbath.

• This bull market is more powerful than the late 1990s, says 'the godfather' of technical analysis. (video)

Zero Hedge:

• Second Developer Of WikiLeaks-Inspired "SecureDrop" Commits Suicide At 36.

• What Bond Boycott: Foreign Demand In 10Y Auction Soars.

• Buffett: "I Would Buy A Five-Year Put On Every Cryptocurrency".

• The Richest Member Of Congress, Republican Darrell Issa, Announces Retirement.

• SocGen: "What Bond Bear Market? I'll Believe It When TIPS Are At 1%..."

• Bill Gross Goes Short Treasuries: "10Y Could Reach 2.8% By Year End"; Pimco Prepares To Go Long.

• Wholesale Sales Surge Near Most In 7 Years As Inventories Rebound. (graph)

• Kodak Is Now Up Over 300% Since Launching KodakCoin.

• White House "Outraged" After Judge Blocks Trump's DACA Decision.

• Deflation's Back? Core Import Prices Tumble In December. (graph)

• Trump Attorney Sues Fusion GPS, BuzzFeed For Dossier Defamation.

Street Insider: 

• Intuitive Surgical (ISRG) Prelim. Q4 Revenue Tops Views.

Nasdaq:

• United Continental Holdings (UAL) Is Rising On December Results.