Bloomberg:
- Wall Street Chiefs Don’t Think Central Bankers Will Ruin Their Party. (video) Wall Street is betting incoming Federal Reserve Chairman Jay Powell and fellow central bankers can pull back the punch bowl without spoiling the party too much. Speaking at the annual meeting of the World Economic Forum in Davos, Switzerland, finance chiefs said in interviews on Wednesday that they expected central bankers to be able to tighten monetary policy while avoiding a crash in markets or the global economy. “People are worried about the number of Fed increases that might happen this year,’’ James Gorman, chief executive officer of Morgan Stanley, told Bloomberg Television. “I’m not, I think it’s healthy.’’
Wall Street Journal:
- China Breaks a Cloning Barrier: Primates. The development heralds the possibility of genetically engineered primates for drug testing, gene editing and brain research.
- SEC Has Opened Probe of GE’s Accounting. GE said regulators have sought information about its contract assets and its insurance business.
- A Shortage of Trucks Is Forcing Companies to Cut Shipments or Pay Up. Loads far outnumber vehicles as freight volumes near records; ‘like trying to get a cab at LaGuardia’.
- Airline Shares Drop on Capacity Expansion Plans. Investors don’t like go-go capacity expansion because they fear it will spark accelerated growth by other carriers.
- U.S. Says it Seeks Partnerships as Trump Heads to Davos. Officials in the Alpine resort to attend an economic conclave stress that America is not seeking isolation.
CNBC:
- The stock market is off to its best start in 31 years and that bodes well for the rest of 2018. (video)
- Federal deficit could jump whopping $154 billion if these five states do end run around Trump tax law. California, New York, Illinois, New Jersey and Connecticut are among the states considering new ways to allow residents to satisfy their state tax liabilities while still writing off what is paid on their federal taxes.
Zero Hedge:
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