Bloomberg:
- Tory Veterans Tell May to Lay Off the Hard Brexit. Former U.K. Prime Minister John Major joined a growing chorus of voices telling Theresa May she doesn’t have a mandate to pursue the hard Brexit she was planning after a disastrous election left their Conservatives scrambling to form a minority government with a Northern Irish party. “The views of those who wish to stay in are going to have to be borne in mind to a much greater extent after this election: a hard Brexit was not endorsed by the electorate,” Major said on Tuesday in a BBC radio interview. “We have to recognize that the election changed if not everything, then a very great deal, and the government are going to have to respond to that.”
- Asian Wealth to Beat Europe's for First Time Amid Brexit Turmoil. Private wealth in Western Europe is set to fall behind the Asia-Pacific region for the first time this year, partly as a result of the political and economic uncertainty unleashed by Brexit, according to the Boston Consulting Group. Western Europe’s private-household wealth grew by 3.2 percent to $40.5 trillion last year, the smallest increase of any region, while Asia-Pacific had a surge of 9.5 percent to $38.4 trillion, the consulting firm said in a report Tuesday. Those totals are expected to climb to $41.9 trillion and $42.3 trillion respectively by the end of 2017, BCG said in an email.
- European Stocks Rebound on Tech Stock Gains. (video)
- These Five Charts Show the Seismic Shifts Happening in Global Energy.
- Your Evening Briefing.
- Wall Street Says Bank Regulatory Plans Are Better Than Expected. The U.S. Treasury Department’s banking regulatory proposals could be even better for finance firms than they initially hoped. Late Monday, the Trump administration laid out its highly anticipated plan for overhauling bank rules, and Wall Street likes what it sees. The proposals call for easing many of the regulations that were imposed on the industry after the financial crisis, which bankers have frequently complained about in the seven years since the passage of the Dodd-Frank Act. Bank stocks have also been reacting positively to the news, with the KBW Bank Index outperforming the broader markets today. Here’s a look at what Wall Street as a whole is saying.
Wall Street Journal:
- Hidden in Plain Sight: A Powerful Way to Beat the Market. The strategy is to track whether companies’ regulatory filings change.
- Beneath the Uneasy Peace Between Donald Trump and Janet Yellen. The president’s relationship with the Federal Reserve has so far been cordial, but that doesn’t mean Chairwoman Janet Yellen is likely to stay on.
- World Coal Output Fell by Record Amount in 2016. Coal accounted for 28% of energy production last year in a ‘marked shift toward lower-carbon fuels,’ BP says in annual energy review.
Fox News:
CNBC:
- Hedge fund legend Paul Tudor Jones' main fund is down this year.
- Fed rate hike this week to hit millions of borrowers. (video)
- This map shows how much of the United States could see zero or few Obamacare insurers selling health coverage next year.
- Bob Doll: Tech sell-off may not be over but it will breathe new life into market.
Zero Hedge:
- Obamacare Death Spiral: First 2018 Coverage Map Reveals At Least 47 Counties With No Coverage.
- Uber CEO To Take Leave Of Absence, "Dimished Role" After Holder's Report On Workplace Scandals.
- Deputy AG Rosenstein: Trump Can't Fire Special Counsel Mueller.
- What Trump Told Yellen In The Oval Office (Next To Gary Cohn).
- Citigroup(C) Stumbles As CFO Warns Of Second Quarter Slump In Trading Revenues.
- Sessions To Testify As Focus Turns To Whether Mysterious Third Russia Meeting Happened.
- Trump Lays Out "Highly Anticipated" Plan To Overhaul Bank Rules: Here Is Goldman's(GS) Take.
- Core Producer Prices Rise At Fastest Pace In 3 Years, Above Fed Mandate. (graph)
- A Record Number Of Market Participants Says The Market Is Overvalued, Surpassing 1999 Bubble Highs.
- Trump: "Fake News Media Has Never Been So Wrong Or So Dirty", Slams 9th Circuit
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