Breaking: A 6.9 earthquake was reported off the Japan coast in the vicinity of Fukushima Prefecture, causing what was expected to be a “relatively small” 10-foot tsunami. The epicenter was near the much-larger 2011 quake whose resulting tsunami killed 15,000 people.
=> Miss the last update? Catch up here
NBC invested another $200 million in Buzzfeed, Reuters reports. Established media players are increasingly dipping into the Millennial advertising pool — NBC Universal has put $200 million into Vox, and Univision purchased Gawker media and satire site The Onion. And some shops which started out as purely fun and games are sharpening focus — Buzzfeed last August bifurcated clickbait (not) from serious news.
Apple said it would replace the batteries on some 6S iPhones for free. These models don’t have a Samsung problem, but for some reason some of them tend to shut down well before the battery is drained. The bad news is you can’t just look up your serial number but have to show up in person to see if you lost this lottery.
The S&P 500, Dow, Nasdaq and Russell 2000 all closed at record highs — the first time for this superfecta since 1999. One of the leading drivers was oil, which Bloomberg reports “surged as Iran signaled optimism that OPEC will agree to a supply-cut deal and Iraq said it will offer new proposals to help bolster unity before next week’s meeting in Vienna.” Also …
Bank stocks have staged a historical rally since Donald Trump was elected. Quartz reports that bank shares tend to lose an average 2% right after the election of a first-term president. And Trump campaigned in part against banks, Wall Street and even the Fed. But the industry is up a hefty 15% — the best showing in 100 years (Herbert Hoover).
Kanye West cancelled the remainder of his tour, “one of the year’s most popular,” per Bloomberg, leaving some $30 million on the table. E! Newssays exhaustion is to blame. Exhaustion might also be to blame for recent performances by the mercurial artist, who perplexed and angered fans by saying he would have voted for Trump (if he had voted) and by giving lengthy on-stage lectures instead of, you know, performing. (Photo: Kevin Winter/Getty)
Cover Art: A trader on the floor of the New York Stock Exchange, Monday, Nov. 21, 2016. (Photo by Michael Nagle/Bloomberg via Getty Images)