Bloomberg:
- (JCP), (F) and (BLL) were added to US 1 List at BofA/Merrill.
- China’s $586 billion stimulus, which has fueled record imports of iron ore and copper for rail, road and power projects, probably won’t be enough to sustain overseas purchases as demand from consumer- and export-led manufacturers lags, JPMorgan Chase said. Government spending, particularly since late 2008, has stoked demand for infrastructure to stimulate the economy and mitigate unemployment, JPMorgan said in a report. “Private demand continues to be weak, suggesting raw-material imports cannot be sustained at such elevated levels,” wrote analyst Amir Hoosain and Jing Ulrich, managing director for China equities. In April, China had its third-consecutive month of record iron ore imports, “despite elevated stockpiles at major ports and clear sings of serious production surpluses in the country’s steel industry,” the analysts wrote.
Wall Street Journal:
- Genetic research is making another big advance in the battle against cancer.
CNBC:
NY Times:
Yahoo.com:
Washington Post:
CNN:
The Detroit Free Press:
USAToday:
FierceFinance:
Financial News:
- New investments in credit funds exceeded money taken out by the “greatest ever margin” in the past three months, with 60% seeing net inflows, citing Bank of America Corp. research.
- Dow Jones is revamping its enterprise media division with a focus on web-based applications, as the newswire operator seeks to become less dependent on the data terminal business now dominated by Bloomberg and Thomson Reuters, write Kenneth Li and Andrew Edgecliffe-Johnson.