Tuesday, May 23, 2017

Today's Headlines

  • Terror Returns to England’s Home of Music and Marxism. Manchester bounced back from a devastating 1996 IRA bombing. The young pop fans caught up in the suicide bomb in central Manchester weren’t even born the last time the city was hit by a terror attack. In 1996, the Irish Republican Army targeted the economy more than innocent victims, detonating a truck bomb causing 500 million pounds ($650 million) of damage to businesses. It killed nobody because the perpetrators issued a warning. With the deaths of 22 concertgoers, including children, the northern English city has now been horrifically exposed to terrorism of a wholly more arbitrary kind.
  • China Joins EU, Canada in Backing Climate Deal Before Trump Plan. China, Canada and the European Union are joining forces to advance the Paris Agreement while President Donald Trump is still deciding whether the U.S. should stick with the landmark deal on climate change. Canada’s environment minister Catherine McKenna, EU Climate and Energy Commissioner Miguel Arias Canete and China’s special envoy for climate change Xie Zhenhua are meeting Tuesday in Berlin to discuss climate leadership and how to maintain momentum if the U.S. pulls out of the Paris Agreement.
  • Recent Major Terror Attacks in Europe. (video)
  • Glencore Said to Make Takeover Approach to Grain Trader Bunge. Glencore Plc, the miner and commodities trader led by billionaire Ivan Glasenberg, has made a takeover approach for U.S. grain trader Bunge Ltd., according to a person with knowledge of the situation, asking not to be named discussing a private matter. Bunge, based in White Plains, New York, has a market value of about $11.3 billion. The shares jumped as much as 17 percent today after the Wall Street Journal reported Glencore’s approach.
  • Jaguar Land Rover's Profit Margin Improves on China, U.S. Demand. Jaguar Land Rover’s fourth-quarter profit margin improved from the preceding three months on strong demand for its sport utility vehicles in major markets including China and the U.S.
  • U.S. Sues Fiat Chrysler for Diesel Emissions Violations.
  • Your Evening Briefing.
  • Investors Just Pulled the Most Cash From Small Caps in a Decade. The small-cap trade got a lot less crowded. Investors pulled $3.5 billion from the biggest exchange-traded fund that tracks the Russell 2000 Index last week, spooked by the steepest selloff in the domestically focused stocks since before Donald Trump’s surprise election win.
  • Investors Aren't As In Love With Stocks As You Might Think. (video) Its bout of anxiety over, the stock market has jumped back to where it was 10 days ago, with headline volatility at bay. But away from benchmark indexes, signs abound that investors are not as head-over-heels for stocks as is generally portrayed. Here’s a few indicators signaling restraint:
Wall Street Journal:
Zero Hedge:

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