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Wednesday, September 24, 2014

New Photos Reveal Prison's Toll on Phil Spector (Newser Happy Hour 6-pack)

Newser Alert
The day's six most popular stories, in time to unwind.


New Photos Reveal Prison's Toll on Phil Spector

New Photos Reveal Prison's Toll on Phil Spector

(Newser) - Two newly released photos of Phil Spector show the toll of age and prison on the once flamboyant music legend. The most recent photo shows a bald, somber-looking 73-year-old Spector staring straight into the camera on Oct. 28, 2013. An earlier photo of a smiling Spector is dated July 24,... More  »

 
Obama's Salute With Coffee Cup Causes Outrage

Obama's Salute With Coffee Cup Causes Outrage

(Newser) - Many of us have probably disembarked from a long flight clutching a cup of joe—but we're not all the president of the United States saluting members of our armed forces. President Obama is on the receiving end of criticism and coffee-themed jokes for stepping off the Marine One... More  »

 
'Prayer Baby' Drowns in Church's Baptism Tank

'Prayer Baby' Drowns in Church's Baptism Tank

(Newser) - A mother in Decatur, Ala., says her prayers were answered when, after years of trying, she had a baby boy nearly two years ago. But tragedy struck when Brayden King was left in the care of his teen sister at church on Friday: She lost track of him for a... More  »

 
'Craziest OkCupid Date Ever' Will Be a Movie

'Craziest OkCupid Date Ever' Will Be a Movie

(Newser) - When a reclusive writer and gregarious professor planned their first date via OkCupid, they decided to take an unorthodox route. Instead of meeting for coffee, they spent a total of 10 minutes between them packing a few items (the professor using only his pockets, the writer filling a small purse)... More  »

 
Cop Tries to Shake Terror Suspect's Hand, Is Stabbed

Cop Tries to Shake Terror Suspect's Hand, Is Stabbed

(Newser) - Australian police shot and killed a terror suspect after he stabbed two officers yesterday, officials say. The suspect has been identified as Numan Haider, an 18-year-old Australian whose passport had been canceled amid terror concerns, the AP reports. Officers were concerned he was planning to behead police, cover their bodies... More  »

 
Unintended iPhone 6 Feature: It Bends

Unintended iPhone 6 Feature: It Bends

(Newser) - Like to keep your iPhone in your pocket? Well, you may not want to do so if you just bought a shiny new iPhone 6 or 6 Plus, because the phones can easily get bent. Users are posting pictures and videos of how easily the phones bend in what is... More  »

 

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STOCKS SURGE, DOW GAINS 154: Here's What You Need To Know

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September 24, 2014

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Stocks rallied on Wednesday, the first day of gains for the market in three days, with the Nasdaq leading percentage gains on Wednesday and the Dow adding more than 150 points.

First, the scoreboard:

  • Dow: 17,210.06, +154.2, (+0.9%)
  • S&P 500: 1,998.30, +15.5, (+0.8%)
  • Nasdaq: 4,555.22, +46.5, (+1%)

And now, the top stories on Wednesday:

1. The latest report on new home sales showed sales rose a whopping 18% in August to an annualized pace of 504,000. This beat the 4.4% increase to a rate of 430,000 that was expected by Wall Street economists, and marked the largest beat relative to expectations for the reading since May 2010. Following the report, Michael Gapen said, "The three-month average pace of new home sales now stands at 450k, modestly above the Q2 average of 430k and the Q1 average of 431k. Inventories of new homes were broadly unchanged on the month at 203k, up 201k from last month. Against the August pace of sales, this left months' supply at 4.8 months, down from 5.6 in June and July. Altogether, this is a much stronger report than expected and suggests housing demand has stabilized in recent quarters."

2. A report from Business Insider's Nicholas Carlson on Wednesday noted that 50% of Yahoo's outstanding shares, or about 500 million shares, have changed hands over the last four days, well above the average turnover of 8% over a four day period. Carlson unpacked a few theories as to what's behind this uptick in activity, including that Yahoo could be buying its own stock and that investors could be selling Yahoo stock to buy Alibaba. On Wednesday, Yahoo gained 2.1%, while shares of Alibaba gained 3.9%. 

3. GoPro shares were up 7.6% on Wednesday, and the wearable camera company has now gained more than 170% since its IPO in June.

4. The US dollar has been rallying, which many argue is a negative for stocks and the economy, as it pressures the purchasing power of the US' international trading partners. But Goldman Sachs economist Jari Stehn wrote in a note to clients that under the firm's baseline scenario of the dollar gaining another 3%, the impact on inflation and growth is likely to be negligible. 

5. Mark Dow of Behavioral Macro wrote a great summary of what's been going on in commodities market on Wednesday. Dow argued that recent weakness in commodities is just the first part of a two-part decline in the value of commodities that is likely to take shape as investors who piled into these assets during the 2004-2010 boom slowly get forced out.  

6. Bed Bath & Beyond shares gained more than 7.4% on Wednesday after the home goods retailer on Tuesday night reported earnings and sales that beat expectations. The company also gave a fiscal-year profit outlook that was in-line with expectations. 

7. The euro continued to make new lows against the dollar, falling below $1.28 as the economic situation in the currency area continues to deteriorate. Earlier on Wednesday, the Germany's IFO business climate index fell from the prior month and missed expectations, and following that report Pantheon Macro's Claus Vistesen wrote that, "Weak growth in Eurozone trading partners, tensions with Ukraine and, possibly, a slowdown in China continue to weigh on the main German business survey index."

8. Tuesday night at sundown marks the beginning of Rosh Hashanah, the celebration of the Jewish New Year, and UBS' Art Cashin reminded us of one of the more obscure calendar-based trading rules on Wall Street: "Sell on Rosh Hashanah, and buy on Yom Kippur." Yom Kippur is set to begin at sundown on October 3. 

Don't Miss: The Anatomy Of America's Finances In 10 Charts »

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THE SOCIAL-COMMERCE REPORT: Social Networks Are Driving More Online Sales And Influencing Offline Purchases

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September 24, 2014
THE SOCIAL-COMMERCE REPORT: Social Networks Are Driving More Online Sales And Influencing Offline Purchases THE SOCIAL-COMMERCE REPORT: Social Networks Are Driving More Online Sales And Influencing Offline Purchases

Social commerce sales grew at three times the rate of e-commerce sales last year.
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 THE PROGRAMMATIC ADVERTISING REPORT: Mobile, Video, And Real-Time Bidding Will Catapult Programmatic Ad Spend
THE PROGRAMMATIC ADVERTISING REPORT: Mobile, Video, And Real-Time Bidding Will Catapult Programmatic Ad Spend
 RTB will account for over $18.2 billion of U.S. digital ad sales in 2018.  Read»
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The High Performance Of Online Video Advertising Is Helping It Grow Much Faster Than Other Ad Mediums
The High Performance Of Online Video Advertising Is Helping It Grow Much Faster Than Other Ad Mediums
Digital video ads are high performers.   Read»
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SOCIAL-MEDIA ADVERTISING: The Rush Into Social Is On, Led By Spending On Mobile And Programmatic
SOCIAL-MEDIA ADVERTISING: The Rush Into Social Is On, Led By Spending On Mobile And Programmatic
Social media ad spend has reached the mobile-tipping point.   Read»
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The Number Of Homeless Students In Public Schools Is Skyrocketing
A record number of homeless students were enrolled in US public schools...  Read»
The 10 Most Important Things In The World Right Now
Hello! Here's what you need to know for Wednesday.  1. The first...  Read»
How Uber CEO Travis Kalanick Went From A Startup Failure To One Of The Hottest Names In Silicon Valley
Uber cofounder and CEO Travis Kalanick, 38, is prone to trash-talking...  Read»
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Apple Pulled The iOS Update That's Screwing Up People's Phones
Apple Pulled The iOS Update That's Screwing Up People's Phones
Apple has pulled an iOS update after users complained about their...  Read»
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CONGRESSMAN: Obama's Expansion Of His ISIS Campaign Is 'Illegal'
CONGRESSMAN: Obama's Expansion Of His ISIS Campaign Is 'Illegal'
President Barack Obama is stretching legal bounds he created for himself...  Read»
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The iPhone 6 Plus Really Does Have A Bending Problem
The iPhone 6 Plus Really Does Have A Bending Problem
On Tuesday the iPhone 6 Plus was forced to confront a question near the...  Read»
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Apple's Manufacturing Costs Reveal The Profits It Will Make On iPhone 6
Apple's Manufacturing Costs Reveal The Profits It Will Make On iPhone 6
Good news for shareholders, bad news for consumers.  Read»
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See Also
Here's What We Know About The Khorasan Leader Who The US May Have Killed In An Airstrike
Here's What We Know About The Khorasan Leader Who The US May Have Killed In An Airstrike
At an age when most people haven't even graduated from college, Muhsin...
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An Independence Vote-Rigging Conspiracy Theory Is Sweeping Scotland
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Pro-independence campaigners allege voting irregularities in Scotland.
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The Emma Watson Naked Photo Countdown Was The Work Of Serial Internet Hoaxers
The Emma Watson Naked Photo Countdown Was The Work Of Serial Internet Hoaxers
The media blames a viral marketing company for the stunt, but the truth is far more disturbing.
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