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Monday, September 29, 2014

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Arkansas Realtor Went to Show Home, Disappeared (Newser Happy Hour 6-pack)

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


Arkansas Realtor Went to Show Home, Disappeared

Arkansas Realtor Went to Show Home, Disappeared

(Newser) - An Arkansas real estate agent has gone missing in the vicinity of Little Rock after going to show a home on Thursday. Some 200 volunteers searched for 49-year-old Beverly Carter yesterday and will continue the effort today, CNN reports. Police have arrested Aaron Lewis, 33, on kidnapping charges, reports ABC... More  »

 
Family of 5 Dies Mysteriously in Utah Home

Family of 5 Dies Mysteriously in Utah Home

(Newser) - A tragedy—and a mystery—arose Saturday night in Utah, where a couple and three of their kids were found dead in their home. Benjamin and Kristi Strack, 37 and 36, respectively, and their sons Benson, 14, and Zion, 11, as well as their daughter Emery, 12, were found—all... More  »

 
The CIA Has Its Very Own Secretive Starbucks

The CIA Has Its Very Own Secretive Starbucks

(Newser) - There's one Starbucks in the world where there's zero chance that your name will be misspelled on a cup: the Starbucks tucked within the CIA's headquarters in Langley, Va., a location plainly referred to as "Store Number 1" on its receipts. No names grace the cups... More  »

 
Stevie Nicks: I Was Pregnant With Don Henley's Baby

Stevie Nicks: I Was Pregnant With Don Henley's Baby

(Newser) - In a no-holds-barred Billboard interview, Stevie Nicks confirms a long-standing rumor: She was once pregnant with Eagles frontman Don Henley's baby. Years ago, Henley told a reporter that during his relationship with Nicks, she got pregnant and named their unborn baby Sara, and that that's what the Fleetwood... More  »

 
'Umbrella Revolution' Paralyzes Parts of Hong Kong

'Umbrella Revolution' Paralyzes Parts of Hong Kong

(Newser) - Defiant pro-democracy demonstrators in Hong Kong have expanded their protests after police used tear gas and other heavy-handed tactics to try to clear them from the streets yesterday. "Occupy Central" protesters—many of whom camped out on the city's main roads overnight—have occupied key districts of the... More  »

 
Woman Held in Jail for Weeks Over SpaghettiOs

Woman Held in Jail for Weeks Over SpaghettiOs

(Newser) - When Ashley Gabrielle Huff was pulled over by a police officer in Gainesville, Ga., on July 2 for a tag light violation, the officer immediately became suspicious of her appearance and demeanor. After finding a spoon in her car with residue on it (and supposedly field-testing it), the officer was... More  »

 

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STOCKS SLIP: Here's What You Need To Know

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September 29, 2014

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Stocks fell on Monday after opening sharply lower following a turbulent week and protests in Hong Kong that broke out over the weekend and pressured Asian stocks overnight.

First, the scoreboard:

  • Dow: 17,071.22, -42, (-0.2%)
  • S&P 500: 1,977.80, -5, (-0.2%)
  • Nasdaq: 4,505.85, -6.3, (-0.1%)

And now, the top stories on Monday:

1. The latest report on personal income and outlays showed that "core" personal consumption expenditures, or PCE, which is the Federal Reserve's preferred measure of inflation and excludes the more volatile prices of food and gas, rose 0.1% month-over-month. On a year-over-year basis, "core" PCE rose 1.5%. Personal spending rose 0.5% in August and personal income rose 0.3%. Following the report, Ian Shepherdson at Pantheon Macro said, "In one line: Autos drive August spending up, but Q3 will look pedestrian... Assuming no revisions, that implies Q3 consumption will rise by only 1.6% annualized, down from 2.5% in Q2."

2. Pending home sales in August fell more than expected, falling 1% against expectations for pending home sales to fall 0.5%. On a year-over-year basis, pending home sales fell 4.1% in August. Lawrence Yun, chief economist at the National Association of Realtors, said of the report: "Fewer distressed homes at bargain prices and the acknowledgment we're entering a rising interest rate environment likely caused hesitation among investors last month. With investors pulling back, the market is shifting more towards traditional and first-time buyers who rely on mortgages to purchase a home."

3. The Dallas Fed's latest manufacturing report beat expectations, coming in at 10.8 against estimates for a 10.5 reading, and the report said, "Perceptions of broader business conditions were more optimistic this month."

4. Stocks opened lower on Monday and clawed back most of those gains, but on Monday Business Insider's Joe Weisenthal noted a few reasons why the sell-off might be different this time. Short-term Treasury yields have been increasing steadily this year, and Dan Greenhaus of BTIG wrote that the speed at which market sentiment shifted from bullishness to bearishness could find this character of this market changing in ways some investors may not expect. 

5. Greenlight Capital's David Einhorn is the largest shareholder of Einstein Noah Restaurant group, which agreed to be acquired for $20.25 per share in deal worth about $374 million. All told, it was a pretty good day for Einhorn.

6. GoPro shares were on a tear again on Monday, gaining more than 11% and bringing the share price above $90 for the first time. It's been about three months since the wearable camera company went public at $24 per share, and Business Insider's Henry Blodget did some quick math to show GoPro investors what kind of revenue and profit performance the company might need to justify its current stock price. 

7. Over the last year or so, the idea of "secular stagnation," that the world economy is facing a new limit on potential future growth has become popular among economists after Larry Summers first discussed the idea at the IMF last year. On Monday, Deutsche Bank's Torsten Slok circulated an email that said with economic headwinds fading and expectations for economic growth of more than 3% over the next six quarters, secular stagnation is over.

8. The Russian ruble, as well as the Russian stock market, have been getting crushed as the Russian economy starts to really feel the pain of Western sanctions. On Monday, the ruble fell to about 39.4 against the US dollar, its worst level in more than 10 years. 

Don't Miss: Brazil Is Getting Annihilated »

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This Company Is Bringing Eye Exams (And Glasses) To People Who Can't Afford Healthcare

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Business Insider Select
 
September 29, 2014
This Company Is Bringing Eye Exams (And Glasses) To People Who Can't Afford Healthcare This Company Is Bringing Eye Exams (And Glasses) To People Who Can't Afford Healthcare

All with the help of a smartphone. [Sponsored content brought to you by Verizon.]
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AOL's Tim Armstrong To Speak At IGNITION
AOL's Tim Armstrong To Speak At IGNITION
Hear from pioneers in digital media including Tim Armstrong, Jon Steinberg, Justin Smith, and more at IGNITION from Dec. 1-3 in NYC.  Read»
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ISIS Seems To Be Getting Closer And Closer To Baghdad
ISIS Seems To Be Getting Closer And Closer To Baghdad
The Islamic State group is allegedly closing in on Baghdad, according to...  Read»
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Everything You Need To Know About Windows 9, Microsoft's Next Major Software Release
Everything You Need To Know About Windows 9, Microsoft's Next Major Software Release
The next major version of Windows, presumably called Windows 9, will probably come next year. Here's what to expect.   Read»
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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.  Read»
THE FUTURE OF SOCIAL-MEDIA ADVERTISING: Programmatic, Mobile, And Improved Analytics Fuel Aggressive Spending
Social is growing faster than many older digital ad mediums.   Read»
The 10 Most Important Things In The World Right Now
Hi! Here's what you need to know for Monday. 1. Police fired tear gas...  Read»
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Hollywood Is The Most Sexist Place In America
Hollywood Is The Most Sexist Place In America
A study backed by the United Nations casts light on...  Read»
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John Hussman Just Issued His Strongest Warning Of A Stock Market Crash Yet
John Hussman Just Issued His Strongest Warning Of A Stock Market Crash Yet
There is an old saying that when the tide goes out, you get to see who...  Read»
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8 Surprising Things You Can Get For Free
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In our culture of buy, buy, buy, it's easy to forget that some things in...  Read»
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Why Iran Is Wrong In Its Talk Of A New World Order
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Change has come, or so the Obama administration has been preaching since...  Read»
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See Also
The Day 2 Hong Kong Protests Are Unbelievably Huge
The Day 2 Hong Kong Protests Are Unbelievably Huge
It's the second day of major protests in Hong Kong, and the crowds in...
  Read»  
The 20 Best Hotels In America
The 20 Best Hotels In America
We recently came out with our list of the World's Best Hotels, and...
  Read»  
The Digital Video Advertising Report: Growth Forecasts And Viewability Scandals
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Online video ads are one of the fastest-growing ad mediums, far outpacing television and other digital formats.
  Read»  
Drone Footage Shows The Enormous Extent Of The Hong Kong Protests
Drone Footage Shows The Enormous Extent Of The Hong Kong Protests
The footage shot over the streets of Hong Kong's financial district...
  Read»  


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