Today's Headlines

Bloomberg:

• Xi’s Top Economic Aide Plans U.S. Trip Amid Trade Tension. President Xi Jinping’s top economic adviser Liu He will head to the U.S. next week in a sign of an expanded role managing the mounting trade tensions between the governments in Beijing and Washington, said a person familiar with the matter. As President Donald Trump considers harsh tariffs on steel and aluminum imports from China, Liu’s visit could mean yet another mandate for the Harvard-educated adviser whose understanding of the U.S. and ties to local business leaders could help ease friction between the governments.
• SEC Cools a Red-Hot Crypto Market by Picking Up the Telephone. Wall Street’s main regulator has repeatedly warned that the hot new market for initial coin offerings is probably full of fraud. Now it’s found an old-fashioned way to slow it down: picking up the telephone.
• Buffett Says He Needs to Make a ‘Huge’ Deal. “Berkshire’s goal is to substantially increase the earnings of its non-insurance group. For that to happen, we will need to make one or more huge acquisitions,” Buffett, the chairman and chief executive officer of Berkshire Hathaway Inc., said Saturday in his annual letter to shareholders. “Despite our recent drought of acquisitions, Charlie and I believe that from time to time Berkshire will have opportunities to make very large purchases.

Wall Street Journal: 

• Months Before Florida Shooting, 911 Calls Show a Teenager in Crisis. Callers tell of fear of Nikolas Cruz’s behavior and guns fixation in the weeks after he lost his mother.
• How to Raise More Grateful Children. A sense of entitlement is a big problem among young people today, but it’s possible to teach gratitude.
• Coal Jobs Get a Boost—From Exports. U.S. utilities continue switch to natural gas despite pro-coal policies of President Trump.
• White House Unveils ‘Largest Ever’ Set of Sanctions on North Korea. The president says the new actions will ‘further cut off’ sources of revenue and fuel for Pyongyang’s nuclear program.

Barron's:

• Had bullish commentary on (HAL), (EOG), (TWX), (PG), (KO), (APC), (GEL), (TRGP), (SHLX), (NBL) and (PXD).
• Had bearish commentary on .

MarketWatch.com:

• Why a spike in the 10-year Treasury yield to 3% won’t be a death knell for stocks.
• Charts show that Dow 30,000 is still likely.
• The S&P 500 just breached a key line in the sand for technical traders.
• Fed on track for 3 rate hikes in 2018, but 4? No sign in report to Congress.

Fox News: 

• Dems' rebuttal to GOP FISA memo is released; Trump deems it a 'bust'. (video)

CNBC: 

• Lower tax rate fuels record profit for Buffett's Berkshire Hathaway.
• Cancer research breakthrough shows a better way to predict drugs that will work.
• Saudi oil minister hopes OPEC, allies can ease output curbs in 2019.
• Markets watching for a steady hand in Powell as he navigates Congress for the first time.
• The market just woke up after hitting the 'afternoon snooze button' all week. (video)

Zero Hedge:

• FBI Tipster Transcript Leaked: Cruz Will "Get Into A School And Shoot The Place Up": Full Text.
• "Shocked And Outraged": Four Broward Deputies Waited Outside School As Children Were Massacred.
• "There Was A Mistake Made" - FBI's No. 2 Refuses To Provide Details On How Cruz Tips Were Fumbled.
• "CalPERS Is Near Insolvency; It Needs A Bailout Soon" - Former Board Member Makes Stunning Admission.
• US Embassy Moving To Jerusalem On Israel's Independence Day.
• Trump Warns World Of "Very, Very Unfortunate Phase 2" If North Korean Sanctions Fail.
• US Prepares For "Aggressive" High-Seas Crackdown On North Korea Sanctions Violators.
• Millions Of Working-Age Men Will Never Return To The Labor Market, Fed Says.
• American Media's 'Big Bot' Conspiracy Exposed.
• Mexican Gun Control Ensures Cartels Outgun The Good Guys.
• "What Just Hit Us?" - Bay Area Rattled By Unusual Quake Swarm, Trains Delayed.
• Misconduct, Manipulation, Or Malfeasance? - US Regulators Begin Probe Of VIX Funds.
• LA Has Criminalized Poverty By Making It Illegal To Sleep In Cars And RVs.
• Meet Liu He - The Hyper-Interventionist Frontrunner To Lead China's Central Bank.
• It's Not Just The Homicides: Commercial Robberies In Baltimore Are Up 88%.
• Berkshire Owns $100 Billion In T-Bills: More Than China And The UK.
• Florida Shooting Survivor Doubles Down: CNN's Entire Townhall Was Scripted.
• Trump Wants "Harshest" Import Tariffs: 24% On Steel, 10% On Aluminum.
• Weekend Reading: Tax Reform Doing Exactly What We Expected.
• Bonds Break 7-Week Losing Streak As Fed Balance Sheet Tumbles Most In 6 Years. (graph)

Business Insider:

• Dropbox finally filed for its IPO — and it lost $111 million on revenue of $1.1 billion last year.
• Here are Warren Buffett's 15 biggest stock investments.
• Here are all the brands that have cut ties with the NRA following gun-control activists' boycotts.
• The 57 best photos of the Winter Olympics so far.
• Vaping instead of smoking still exposes you to toxic metals like lead — here's how worried you should be.
• UBS found a surprising driver of stock market returns — and these 15 stocks could be set to benefit.
• Teens are watching a surprising amount of hardcore porn — and parents need to start talking to them about it.