…“People somehow think you must buy at the bottom and sell at the top to be successful in the market. That’s nonsense! The idea is to buy when the probability is greatest that the market is going to advance”… Jesse Livermore

1. James Clinger Nominated for FDIC Chair — taking a big step towards loosening the shackles on Wall Street, President Trump has nominated James Clinger as chairman of the FDIC, one of the U.S.’s most powerful bank regulators. If confirmed by the Senate, he would begin his term in November. Clinger currently serves as chief counsel for the House Financial Services Committee and has been involved in efforts to rip up Dodd-Frank.
2. UPS Adopts Peak Time Charges for 2017 Holiday Season — UPS plans to charge retailers extra fees to deliver packages during the busiest weeks before Christmas, creating a new challenge for an industry seek to offset declining foot traffic to shopping centers. UPS’s fees will force retailers like Amazon (AMZN) and Wal-Mart (NYSE:WMT) to decide over the next few months whether to raise prices, a difficult to do when online shoppers are reluctant to pay shipping fees.
3. MSCI Will Include China’s A shares In the MSCI Emerging Markets Index — the long-awaited China’s A-shares will be included in the MSCI Emerging Markets Index in what was seen as a major milestone. “International investors have embraced the positive changes in accessibility… over the last few years,” said Remy Briand, Chairman of the MSCI Index Policy Committee.
4. Oil To Flow Through Dakota Access Pipeline as Summer Hearings Proceed — a U.S. District Court judge has set up a series of hearings through the summer to determine what will happen to the Dakota Access Pipeline while authorities conduct an additional review of the project’s environmental impact. Project developer Energy Transfer Partners (NYSE:ETP) is “pleased with the decision” as oil will continue to flow through the pipeline during the hearings.
5. All US Banks Pass This Year’s Stress Tests — The 34 largest U.S. lenders have all cleared the first stage of the Fed’s annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements. Banks are still subject to a second portion of the test in which the Fed approves or denies their capital plans, which will be released next week.

The week ahead — Economic data from Econoday.com:

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