The most-read Bloomberg News reports from the past week are listed below. The rankings are based on daily statistics through Feb. 5. See NI READSUMS for previous lists.
1. U.S. Stocks Climb on Oil Rally as Dollar Plunges Most in 7 Years
(Bloomberg) -- The dollar sank the most in seven years against major currencies as data indicating a slowdown in service industry growth fueled concern over the strength of the U.S. economy. American stocks staged an afternoon rally, erasing earlier losses as crude oil rebounded.
2. Credit Suisse Stock Plummets as Investors Question CEO’s Targets
(Bloomberg) -- Credit Suisse Group AG shares slumped to a two-decade low as bigger-than-expected restructuring charges and trading losses prompted investors to question Chief Executive Officer Tidjane Thiam’s plan to turn around the company.
3. Cruz Deals Trump an Upset in Iowa; Clinton Squeezes Narrow Win
(Bloomberg) -- Senator Ted Cruz used the power of evangelical voters and an old-fashioned ground game to upset billionaire Donald Trump in Iowa Republican caucus voting that was fueled by anti-establishment sentiment.
4. HSBC to Freeze Hiring, Salaries in 2016 Amid Cost Reductions
(Bloomberg) -- HSBC Holdings Plc will impose a global hiring and pay freeze as part of its drive to cut as much as $5 billion in costs by the end of 2017.
5. Stocks Sink as Deepening Oil Rout Hits Earnings; Treasuries Jump
(Bloomberg) -- Stocks fell around the world, with the Dow Jones Industrial Average shedding more than 290 points as U.S. crude oil’s renewed plunge below $30 a barrel reignited anxiety over global growth. Treasuries climbed with the yen amid demand for the safest assets.
6. U.S. Stocks Little Changed as Fischer Outweighs Renewed Oil Rout
(Bloomberg) -- U.S. equities staged an afternoon rally to finish little changed, shrugging off a resumption in oil’s selloff after a Federal Reserve official said policy moves are not predetermined amid the recent market turmoil. The dollar weakened.
7. Platt’s BlueCrest Said to Be Probed by SEC Over Partner Fund
(Bloomberg) -- Billionaire Michael Platt’s BlueCrest Capital Management is being investigated by a U.S. regulator over possible conflicts posed by an internal fund that manages money for the firm’s partners, according to people with knowledge of the matter.
8. Goldman Sachs With Pimco Warn Bond Gains Will Turn Into Losses
(Bloomberg) -- Goldman Sachs Group Inc. and Pacific Investment Management Co. say bonds are poised to fall and traders aren’t prepared for how far the Federal Reserve will raise interest rates.
9. U.S. Stocks Sink on Tech Rout as Dollar Climbs After Jobs Data
(Bloomberg) -- U.S. stocks tumbled, with the Nasdaq 100 Index plunging to its lowest in five months, as disappointing earnings sent consumer and technology shares lower. The dollar advanced after signs of wage growth in America forced investors to reconsider the timing and pace of future interest-rate increases.
10. Oil Seen Surging About 50% by Fourth Quarter as Supply Eases
(Bloomberg) -- Oil bulls distressed that last week’s rally fizzled can find some comfort in forecasts for a bigger and longer rebound by the end of the year.
1. What the U.S. Jobs Report Needs to Show: Mohamed A. El-Erian
(Bloomberg View) -- The U.S. jobs report for January will be released Friday amid unsettling market volatility that is amplifying financial insecurity and could threaten the U.S. economy as it battles the headwinds from weaker international conditions.
2. What Millennials Like About Bernie Sanders: Cass Sunstein
(Bloomberg View) -- Bernie Sanders is the oldest candidate in the presidential race, but as of now, he seems to be the younger generation’s candidate. According to a recent survey, Sanders is favored by 46 percent of voters between the ages of 18 and 34, where Hillary Clinton is preferred by 35 percent.
3. Six Takeaways From an Exciting Night in Iowa: Megan McArdle
(Bloomberg View) -- Well, last night was certainly exciting, wasn’t it? Expectations were defied. Insurgencies surged -- or receded. Marginal candidates quietly slipped away into the gathering darkness. And Iowans enjoyed their brief quadrennial turn in the limelight.
4. Three Dark Pools Turned Out to Be Especially Murky: Matt Levine
(Bloomberg View) --Here’s how Credit Suisse Securities (USA) LLC described one of its dark pools, which it cleverly named Light Pool1:
5. Iowa Is Over, So Now It Gets Interesting: Margaret Carlson
(Bloomberg View) -- That this is a year when everything is up for grabs was confirmed Monday night in Iowa, with two almost equally unacceptable outsiders -- Senator Ted Cruz and Donald Trump -- running 1 and 2 in Iowa’s Republican caucuses. The party establishment would take their own lives if one of them actually wins the nomination.
1. Valeant, Turing Executives Testify on Drug Prices
(Bloomberg) -- Howard Schiller, interim chief executive officer of Valeant Pharmaceuticals International Inc., and Nancy Retzlaff, chief commercial officer of Turing Pharmaceuticals AG, testify before the House Oversight and Government Reform Committee about drug prices.
2. Fischer: Fed’s Next Decision Unclear Amid Global Issues
(Bloomberg) -- Federal Reserve Vice Chairman Stanley Fischer speaks about monetary policy, the U.S. economy, inflation and global markets.
3. BOE Quarterly Inflation Report: Full News Conference
(Bloomberg) -- Bank of England Governor Mark Carney presented another reduction in inflation forecasts as a worsening global environment undercut the prospect of an interest-rate increase any time soon.
4. Draghi Speaks About Inflation Challenge: Full Speech
(Bloomberg) -- Mario Draghi said that global pressures pushing down inflation are no justification for inaction from the European Central Bank.
5. ECB President Draghi Speaks in European Parliament
(Bloomberg) -- European Central Bank President Mario Draghi speaks before the European Parliament in Strasbourg.