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Thursday, October 16, 2014

THE EBOLA CONNECTION: Hunt for passengers who flew with 2nd nurse

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THE EBOLA CONNECTION: Hunt for passengers who flew with 2nd nurse
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STOCKS GO NOWHERE: Here's What You Need To Know

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October 16, 2014

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Stocks went nowhere on Thursday despite opening lower again as markets in Europe were notably weak again ahead of the US open. Bond yields in Germany continued to power lower while yields in Greece rose the most in two years. US stocks finished the day little changed, though each of the averages were down more than 1% at their lows. The small-cap Russell 2000, for the fourth straight day, outperformed the major stock indexes and gained 1.4% on Thursday.

First, the scoreboard:

  • Dow: 16,117.2, -24.5, (-0.1%)
  • S&P 500: 1,862.7, +0.2, (+0.01%)
  • Nasdaq: 4,217.4, +2, (+0.05%)

And now, the top stories on Thursday:

1. On Thursday, St. Louis Federal Reserve president James Bullard moved markets after saying the FOMC should consider pausing the taper of its QE program; the Fed is currently on track to finish this program later this month. Speaking in an interview on Bloomberg TV, Bullard said that in the face of declining inflation expectations, this is something that the Fed should at least think about, and these comments sent stocks rallying off their lowest levels and jump-started the averages to begin meaningfully shaving their losses.

2. On Thursday, analysts at Credit Suisse noted that following recent market developments, including worries over global growth and declining inflation expectations, the market has pushed back its expectations for the Fed's first rate hike to the fourth quarter of 2015, the latest these expectations have been since May 2013.

3. The weekly report on initial jobless claims came in far better than expectations, as claims fell to 264,000 from 287,000 a week ago, the lowest level since April 15, 2000. Following the report, Ian Shepherdson at Pantheon Macroeconomics said, "In one word: Spectacular... Whether claims can be sustained at such a low level — an all-time low, as a share of employment — is debatable...but this is a clear signal of real strength in the labor market."

4. Industrial production data from the Federal Reserve showed that production rose 1% month-over-month in September, better than the 0.4% expected by economists. This also showed an increase of 3.2% on an annualized basis for the third quarter. "This was a very encouraging report, and the strong performance in the manufacturing sector will go some way in allaying fears about weakening momentum in this sector," TD Securities' Millan Mulraine said following the report. 

5. The National Association of Homebuilders' Market Index unexpectedly fell to 54 in October from 59 in September. Expectations were for the reading to be unchanged at 59. Following the report, David Crowe, NAHB chief economist, said, "After the HMI posted a nine-year high in September, it's not surprising to see the number drop in October. However, historically low mortgage interest rates, steady job gains, and significant pent up demand all point to continued growth of the housing market."

6. The Philadelphia Federal Reserve's latest manufacturing report came in better than expected, showing a reading of 20.7 against expectations for a decline to 19.8 from last month's 22.5.

7. Netflix shares got smoked on Thursday, falling about 19% after the streaming internet video company last night reported third quarter subscriber growth that missed expectations and gave a fourth quarter earnings outlook that disappointed. Following the report, Morgan Stanley analyst Benjamin Swinburne wrote in a note to clients that, "We are disappointed Netflix fell short of its 3Q guidance in both the US and internationally. However, stepping back from the miss, we see points of light particularly in the context of shares trading [at around $330.]" The steep drop in Netflix shares may have cost Carl Icahn up to $200 million.

8. Goldman Sachs was the latest of the big US banks to report earnings, reporting earnings per share of $4.57 against expectations for earnings of $3.21. "The combination of improving economic conditions in the US and a strong global franchise continued to drive client activity across our diverse set of businesses," CEO Lloyd Blankfein said. In the third quarter, investment banking revenue at the firm rose 26%. 

9. Warren Buffett has begun reducing his stake in Tesco, the UK retail chain that has seen ten senior executives either been asked to leave the firm or resign since the company acknowledged it overstated profits by $316 million. Buffett has trimmed his stake to less than 3% of the company, down from a stake of almost 4% at the beginning of the month.

Don't Miss: These 10 Forces Could Rattle Markets Between Now And The End Of The Year »

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Archaeologists Uncover Giant Sphinx in Calif. Dunes (Newser Happy Hour 6-pack)

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


Archaeologists Uncover Giant Sphinx in Calif. Dunes

Archaeologists Uncover Giant Sphinx in Calif. Dunes

(Newser) - Archaeologists parted the sands in California to excavate one of the last remnants of old-time Hollywood: a giant plaster sphinx from the set of Cecil B. DeMille's The Ten Commandments. The director buried props from the epic movie (the 1923 silent black-and-white version, not the 1956 Charlton Heston blockbuster)... More  »

 
Murder Suspect, 10, Will Stay in Adult Jail

Murder Suspect, 10, Will Stay in Adult Jail

(Newser) - Tristen Kurilla, the Pennsylvania 10-year-old who confessed to killing a 90-year-old woman over the weekend, is still in an adult prison and for now, his family thinks that could be the best place for him. His attorney withdrew a bail request yesterday saying the "family just doesn't feel... More  »

 
Nurse With Ebola Called CDC Before Flying

Nurse With Ebola Called CDC Before Flying

(Newser) - The CDC says nurse Amber Vinson shouldn't have flown —but the agency said something different when she called several times before flying back to Texas from Cleveland earlier this week. A health official tells CBS that someone "dropped the ball" by telling the nurse, the second Dallas... More  »

 
There's an Ebola Outbreak You Don't Know About

There's an Ebola Outbreak You Don't Know About

(Newser) - The Ebola outbreak in West Africa shows no signs of slowing, having killed at least 4,447 . Elsewhere in Africa, however, another outbreak of the virus is quietly winding down. It's believed a different strain of Ebola first appeared in the Democratic Republic of Congo in late July: A... More  »

 
Lockheed Claims Nuclear Fusion Breakthrough

Lockheed Claims Nuclear Fusion Breakthrough

(Newser) - Lockheed Martin announced yesterday that it has made what Reuters calls a "technological breakthrough" in the area of compact nuclear fusion. The upshot is that reactors "small enough to fit on the back of a truck" could be here within 10 years. As Forbes explains, nuclear fusion combines... More  »

 
Angry Camel Bites, Kicks American to Death

Angry Camel Bites, Kicks American to Death

(Newser) - A Chicago-area man who founded a wildlife sanctuary in Mexico ended up being kicked, bitten, and squashed to death by one of the animals he tried to save. An enraged camel kicked and bit Richard Mileski "practically to death, and when he was almost dead, he sat on him,... More  »

 

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Watch Apple Unveil The Thinnest iPad Ever

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Business Insider Select
 
October 16, 2014
Watch Apple Unveil The Thinnest iPad Ever Watch Apple Unveil The Thinnest iPad Ever

VIDEO: Apple's latest product.
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These Animated Charts Tell You Everything About Uber Prices In 21 Cities
These Animated Charts Tell You Everything About Uber Prices In 21 Cities
When you look up the Uber rate in your city, it looks fairly familiar...  Read»
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These Are The Biggest Trends And Most Successful Retailers In E-Commerce Ahead Of The Holidays
These Are The Biggest Trends And Most Successful Retailers In E-Commerce Ahead Of The Holidays
Mobile is the breakout trend in retail.   Read»
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How The CIA Tried To Raise A Lost Soviet Submarine With A Giant Crane — And Sort Of Succeeded
How The CIA Tried To Raise A Lost Soviet Submarine With A Giant Crane — And Sort Of Succeeded
In August 1974, the United States undertook a top-secret mission that...  Read»
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Snapchat's New Feature Lets College Students Post Snaps To A Campus Live Feed
Snapchat keeps adding new features. The latest one is called "Our Campus...  Read»
THE FUTURE OF PAYMENTS: 2014 [SLIDE DECK]
The way we pay is changing.   Read»
Why Jay Leno Never Invited Joan Rivers On 'The Tonight Show'
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There's A Simple Rule That's Helping Marketers Advertise More Effectively On Social Networks
There's A Simple Rule That's Helping Marketers Advertise More Effectively On Social Networks
Marketers should only pay to promote their most popular content on social.  Read»
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STOCKS GO GREEN
STOCKS GO GREEN
Stocks have gone green. Near 1:30 pm ET, the Dow was up 32 points, the...  Read»
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Here's Apple's Plan To Turn Around iAd, One Of Its Biggest Flops
Here's Apple's Plan To Turn Around iAd, One Of Its Biggest Flops
Apple's iAd is understood to be offering advertisers a way to re-target users across devices.  Read»
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We Took Harvard's Incredibly Popular Computer Science Course And Can See Why Students Love It
We Took Harvard's Incredibly Popular Computer Science Course And Can See Why Students Love It
Everyone is talking about CS50 — the Harvard introductory computer...  Read»
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See Also
Top Investor Marc Andreessen: Apple Pay Is 'Very Clever' And Everyone Is 'Freaking Out' Over It
Top Investor Marc Andreessen: Apple Pay Is 'Very Clever' And Everyone Is 'Freaking Out' Over It
Apple Pay will soon be available, and the financial services industry is...
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A Creepy New App Shows Your Distance From The Nearest Ebola Patient
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Ebola hysteria is reaching crisis levels, with people in...
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A 19-Year-Old's Face-Tracking Software Will Change The Way People With Autism Recognize Emotions
A 19-Year-Old's Face-Tracking Software Will Change The Way People With Autism Recognize Emotions
By the time he was 15, Catalin Voss produced the No. 1 podcast on the...
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Every Time You Sang Along To 'Frozen,' You Capitulated To Disney's Carefully Orchestrated Marketing Plans
Every Time You Sang Along To 'Frozen,' You Capitulated To Disney's Carefully Orchestrated Marketing Plans
Disney’s move to fill YouTube with thousands of Frozen clips translated into box office success, study says.
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