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Schumer and the Democrats Prepare to Fight

RealClearPolitics - Fri, 12/09/2016 - 14:11
Dana Milbank, Washington Post
As of Jan. 20, Chuck Schumer will be the most important Democrat in the land. But spend a few minutes with the incoming Senate minority leader and it’s clear where the real power lies.

Baker Hughes reports spike in U.S. oil-rig count

MarketWatch Market Pulse - Fri, 12/09/2016 - 13:17

Data from Baker Hughes Friday revealed that the number of active U.S. rigs drilling for oil climbed by 21 to 498 rigs this week. That's the highest level since January, according to Citi Futures' Tim Evans. The total active U.S. rig count, which includes oil and natural-gas rigs, also jumped by 27 to 624, according to Baker Hughes. "It looks like the OPEC deal, as well as the end of the year, is inspiring the drillers to get cracking," said Phil Flynn, senior market analyst at Price Futures Group. He also pointed out that "some drillers may have to start drilling before the end of the year to keep leases." Prices for oil appeared unfazed by the rig data, with January crude holding onto its gains, trading at $51.43 a barrel on the New York Mercantile Exchange, up 59 cents, or 1.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Corn futures pull back further from 5-month high as USDA raises world output forecast

MarketWatch Market Pulse - Fri, 12/09/2016 - 13:01

Corn futures edged lower Friday, falling back further from the five-month high they hit earlier this week. The U.S. Department of Agriculture left its forecast on U.S. corn production unchanged for the 2016/2017 crop year at 386.75 million metric tons and raised its world output projection by more than 9 million metric tons to 1.0397 billion metric tons. "Looks like plenty of grain inventories globally, which is what people will take away from this report," Sal Gilbertie, president and chief investment officer at Teucrium Trading, said about the USDA’s World Agricultural Supply and Demand Estimates report. "There is once again record global demand for grains and nearly all the major crops covered in this report," he said. But "the world has become reliant on record production to meet record demand." March corn was down 0.2% at $3.53 a bushel in Chicago. It settled at over $3.60 a bushel on Tuesday, which was its highest level since mid-July.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Centerra Gold suspends dividends as cash flow tightens

Reuters Us Markets - Fri, 12/09/2016 - 12:56
TORONTO, Dec 9 (Reuters) - Cash-strapped Centerra Gold Inc said on Friday that it will suspend its third-quarter and future dividends, citing financial restrictions by Kyrgyzstan on its key...

Italian decree to support banking system is ready - govt sources

Reuters Us Markets - Fri, 12/09/2016 - 12:54
ROME, Dec 9 (Reuters) - An emergency decree to support Italian banks, including the troubled Banca Monte dei Paschi di Siena, is "essentially" ready to go and can be passed at any time if it is...

GRAINS-Soybeans trim gains after USDA holds U.S. supplies steady

Reuters Us Markets - Fri, 12/09/2016 - 12:53
CHICAGO, Dec 9 (Reuters) - U.S. soybean futures were about flat on Friday, paring earlier gains after the U.S. Department of Agriculture left its domestic supply outlook unchanged.

BRIEF-CNH Industrial comments on media reports

Reuters Us Markets - Fri, 12/09/2016 - 12:53
* story "alleging that CNH Industrial America LLC and CNH Industrial Capital America LLC have been sued by Wootton New Holland LLC" is "false" Source text for Eikon: Further company coverage:

BRIEF-Freddie Mac announces pricing of $209 mln multifamily small balance loan securitization

Reuters Us Markets - Fri, 12/09/2016 - 12:52
* Freddie Mac announces pricing of $209 million multifamily small balance loan securitization

Bruised ECB hopes Monte Paschi rescue would open door for more

Reuters Us Markets - Fri, 12/09/2016 - 12:46
FRANKFURT/LONDON, Dec 9 (Reuters) - The European Central Bank hopes its decision to confront struggling Italian bank Monte dei Paschi at last will draw a line under a multi-year crisis that has...

Samsung to disable Note 7 phones in the U.S. via software update

Reuters Us Markets - Fri, 12/09/2016 - 12:39
Dec 9 (Reuters) - Samsung Electronics Co Ltd said on Friday that a software update for Galaxy Note 7 smartphones will be released mid-December in the United States preventing them from charging and...

Refiner Phillips 66 cuts 2017 capital budget by 25 pct

Reuters Us Markets - Fri, 12/09/2016 - 12:38
Dec 9 (Reuters) - U.S. independent oil refiner Phillips 66 said it lowered its capital budget for 2017 by about 25 percent to $2.7 billion.

Biden does not see Trump undoing much of environmental record

Top Reuters News - Fri, 12/09/2016 - 12:33
OTTAWA (Reuters) - U.S. Vice President Joe Biden said on Friday he doubted whether Donald Trump could undo much of the current administration's record on the environment because so many green policies have firmly taken hold.

Biden does not see Trump undoing much of environmental record

Reuters US Politics - Fri, 12/09/2016 - 12:33
OTTAWA (Reuters) - U.S. Vice President Joe Biden said on Friday he doubted whether Donald Trump could undo much of the current administration's record on the environment because so many green policies have firmly taken hold.

Turkey drops court case against Israeli raid on Gaza flotilla

MiddleEasteye - Fri, 12/09/2016 - 12:30
Language Undefined

Ten Turks died when Israel stormed the Mavi Marmara ship in 2010. Dropping charges was key to deal to normalise Israel-Turkey relations

Oil drilling advocate expected be Trump's pick to head Interior Department: sources

Top Reuters News - Fri, 12/09/2016 - 12:27
WASHINGTON (Reuters) - U.S. President-elect Donald Trump is expected to pick U.S. Representative Cathy McMorris Rodgers, a strong advocate of increased oil and gas development who is skeptical about climate change, to run the Department of the Interior, sources briefed on the matter told Reuters on Friday.

Oil drilling advocate expected be Trump's pick to head Interior Department: sources

Reuters US Politics - Fri, 12/09/2016 - 12:27
WASHINGTON (Reuters) - U.S. President-elect Donald Trump is expected to pick U.S. Representative Cathy McMorris Rodgers, a strong advocate of increased oil and gas development who is skeptical about climate change, to run the Department of the Interior, sources briefed on the matter told Reuters on Friday.

Murdoch's Twenty-First Century Fox bids $14.1 billion for UK's Sky

Top Reuters News - Fri, 12/09/2016 - 12:25
(Reuters) - Rupert Murdoch's Twenty-First Century Fox Inc has made a $14.1 billion bid for the remaining shares of European pay-TV group Sky Plc that the U.S. company does not already own, the British broadcaster said on Friday.

Trump offers Goldman executive Cohn key economic post: NBC

Top Reuters News - Fri, 12/09/2016 - 12:24
WASHINGTON/NEW YORK (Reuters) - U.S. President-elect Donald Trump has asked senior Goldman Sachs banker Gary Cohn to coordinate economic policy across his administration, turning to Wall Street for expertise in managing the world's largest economy, NBC News reported on Friday.

Trump offers Goldman executive Cohn key economic post: NBC

Reuters US Politics - Fri, 12/09/2016 - 12:24
WASHINGTON/NEW YORK (Reuters) - U.S. President-elect Donald Trump has asked senior Goldman Sachs banker Gary Cohn to coordinate economic policy across his administration, turning to Wall Street for expertise in managing the world's largest economy, NBC News reported on Friday.

Trump, U.S. House Speaker Ryan meet to discuss policy

Reuters US Politics - Fri, 12/09/2016 - 12:20
NEW YORK/WASHINGTON (Reuters) - U.S. President-elect Donald Trump and the speaker of the U.S. House of Representatives, Paul Ryan, were meeting on Friday to discuss their policy agenda, a spokeswoman for Ryan said.

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