Good morning, Quartz readers!
What to watch for today
US releases weekly jobless claims. Investors are looking for further signs of tightening in the labor market, after the US posted its biggest drop in weekly state unemployment benefits claims in nearly two years for the week ended April 1.
US bank earnings season begins. JP Morgan Chase, Wells Fargo, and Citigroup are expected to report higher quarterly profits compared with last year, when low oil prices took a toll. But analysts are still wary of slowing economic growth and wondering if the Trump administration’s promised deregulations will actually materialize.
NASA unveils new discoveries about “ocean worlds.” The US space agency will discuss findings based on data from the Hubble telescope and Cassini probe of Saturn. Of particular interest is the Jovian moon Europa, which could be harboring life in its giant salt-water ocean, and will be visited by a NASA probe in the 2020s.
While you were sleeping
Donald Trump said he wouldn’t label China a “currency manipulator.” Going back on a signature campaign promise, the US president said he didn’t want to risk jeopardizing talks with Beijing about how to handle North Korea. He added that the US dollar was “too strong,” sending the currency to its lowest level since November.
Trump also flip-flopped on NATO. The president told NATO secretary-general Jens Stoltenberg at the White House that the military alliance was “no longer obsolete.” Trump repeatedly dismissed the efficacy of NATO while he was on the campaign trail.
South Korea’s economy is improving… The Bank of Korea held interest rates at an all-time low of 1.25%, and slightly revised its GDP growth forecast for 2017 to 2.6%, but said that uncertainty over trade would limit the growth of exports.
…And China’s trade data also got a boost. Exports jumped 14.8% in the first quarter on-year, while imports rose 31.1%, leaving China with a trade surplus of about $66 billion. Geopolitical worries, however, continue to cloud the growth outlook for China and the region.
Star Trek’s “tricorder” medical scanner just got closer to becoming a reality. Two brothers, one an ER doctor and the other an engineer, took home the XPrize’s grand prize in a competition to develop a tricorder-like device. They’ve built a device that can quickly measure vitals and diagnose 13 different ailments.
Quartz obsession interlude
Chase Purdy on the lab-grown meat company that’s about to go global. “The Good Food Institute has rapidly made a name for itself by offering strategic support to and lobbying on behalf of meat alternative companies. GFI thinks Brazil offers an opportunity to strike while the iron is hot, thanks to a recent scandal at Brazil-based JBS, the world’s largest meat packer.” Read more here.
Markets haiku
Trump: dollar’s too strong/
It makes it hard to compete/ The market responds.
Matters of debate
Stronger privacy laws could save the advertising industry. The status quo is a disaster for readers, publishers, and advertisers alike.
It’s increasingly difficult to defend active fund management. A new analysis finds that more than 90% of active funds trailed their passive benchmarks over the last 15 years.
Singapore’s nostalgia for its past is at odds with its relentless development. The government’s planned closure of an old hawker market is prompting a discussion over how to preserve living heritage.
Surprising discoveries
“DJ Sumirock” is an 82-year-old Japanese woman. The octogenarian learned to DJ in her old age and spins electronic music at a club in Tokyo.
There are memes, and then there are super-memes. Thanks to Pepsi, United Airlines, and Sean Spicer, last week was a particularly good week (paywall) for internet snark.
Men have bigger brains on average. Women’s brains, however, are bigger in the areas associated with intelligence.
Jeff Bezos isn’t the best-paid Amazon employee. Amazon Web Services boss Andrew Jassy pulled in more than $35 million in stock and salary last year.
Our best wishes for a productive day. Please send any news, comments, super-memes, and female brain matter to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android.