Updated 4:30 p.m. EST
January 14, 2016
The major U.S indices didn’t quite redeem their horrible losses from Wednesday, but they did their best. The Dow Jones Industrial Average closed the day with gains of 1.4%. The S&P 500 was up nearly 1.7%, and the Nasdaq added almost 2%. Slow clap for U.S. stocks. Energy stocks were the biggest winners in the S&P 500, gaining 4.5%. U.S. oil was on the rise too, breaking $31 and settling at $31.20.
The GOP presidential candidates will again take the stage at 9 p.m. ET in South Carolina. Notably missing will be Carly Fiorina and Rand Paul, who were both booted because of their low rankings. And then there were seven.
Here’s what else you need to know:
Trump lead widens in Republican race. A new Wall Street Journal/NBC poll reveals Trump is ahead 33% to 20% for Ted Cruz, the nearest competitor to the gadfly businessman. Marcio Rubio came in at 13%. The first GOP voters hit the primary polls in just a few weeks, first in Iowa and then in New Hampshire. Wall Street Journal (paywall)
Intel profits and revenue up. Intel reported $0.74 per share on revenue of $14.9 billion, compared with the expected $0.64 per share on a revenue of $14.8 billion. And yet, the stock is getting clobbered after hours, falling as much as 5.5%. Business Insider
Bullard says low inflation expectations may stymie Fed plans. The St. Louis Fed president said the sharp drop in oil prices could make it tougher for the central bank to hit its inflation target. U.S. oil prices have plunged 17% this year. Bullard said the drop is a net positive for the economy but that it would take longer to hit 2% inflation. CNBC
BlackRock wants a new HQ. The firm is allegedly looking for a new headquarters in New York as it expects to outgrow its current offices close to Park Avenue. BlackRock is looking for about 1 million square feet of space. Bloomberg
Anglicans suspend Episcopal Church. The international Anglican Communion has suspended the Episcopal Church, the U.S. branch of the Anglicans, from participating in the communion’s internal decisions or from representing Anglicans in meetings with other faith groups for the next three years. Last summer Episcopalians voted to change their church law to allow same-sex marriage, violating Anglican teaching that marriage is between a man and a woman. CNN
Oscar nominations are in: “The Revenant,” starring Leonardo DiCaprio, dominated the nominations, with best picture, best director, best actor, and best supporting actor. “Mad Max: Fury Road” also had a number of nominations. Sylvester Stallone was nominated for his role as Rocky Balboa in “Creed,” making him one of the few actors to be nominated for playing the same character twice. It’s been 39 years since he was nominated for “Rocky.” CNN
JPMorgan starts earnings season for the big banks. JPMorgan’s fourth quarter profits beat expectations, hitting $5.43 billion, or $1.32 a share. Analysts had expected earnings of $1.25 a share. Revenue rose to $23.75 billion, compared to the expected $22.89 billion. Wall Street Journal (paywall)
Goldman Sachs to cut fixed income staff. The bank announced it will axe up to 10% of its fixed income traders and sales people during the first quarter. The cuts will affect 250 people at the most. Goldman usually cuts about 5% of its total workforce March to make room for new hires. Wall Street Journal (paywall)
Cruz campaign going up in smoke. Presidential candidate Ted Cruz did not disclose hundreds of thousands of dollars in loans from Goldman Sachs, where Cruz’s wife works, and Citibank when he ran for Senate in 2012. The error could be a violation of federal election rules. The loans were eventually listed on personal finance disclosures. CNN
Died: Actor Alan Rickman. The beloved British actor died in London after a battle with cancer, his family confirmed. Rickman was 69. He starred as Professor Snape in the Harry Potter movies, villain Hans Gruber in “Die Hard,” and a number of other popular films. The Guardian
Suicide bombers, gunmen kill at least six in Indonesia. Militants launched a gun and bomb assault in the center of the Indonesian capital of Jakarta on Thursday, police said, in an attack on a country that Islamic State had threatened to put in its “spotlight.” Reuters
Societe Generale uber bear says U.S. stocks to fall by 75%. Bank strategist Albert Edwards warns of 2008-style crisis, global deflation and recession. He predicts that U.S. stocks could lose almost three-quarters of their value as investors suffer from the failure of QE. The Telegraph
You won’t believe this…
Mourning kangaroo really just feeling randy. The Internet shed a tear as it shared photos of a male kangaroo mourning his dying mate. But kangaroo experts say not so fast. There’s no evidence kangaroos mourn the dead. What’s really going on? Expert Dr. Mark Eldridge says, “The evidence is here sticking out from behind the scrotum.” BBC
Skinny people poop may save the obese. Researchers at Massachusetts General Hospital think the gut bacteria from skinny people could help curb obesity in others. Clinical trial subjects will take pills, containing the human feces or a placebo of cocoa powder, over 12 weeks. U.S. News
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