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Friday, November 14, 2014

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November 14, 2014
Democratic Operatives Slam 'Petty' Email Leaks As An Attempt To Sabotage Top Hillary Allies Democratic Operatives Slam 'Petty' Email Leaks As An Attempt To Sabotage Top Hillary Allies
by Hunter Walker on Nov 14, 2014, 4:54 PM
ABC News published an article Friday featuring...


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S&P 500 INCHES TO RECORD HIGH, GOLD RALLIES: Here's What You Need To Know

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November 14, 2014

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Stocks were little changed to close the week, though the S&P 500 inched to a new record high, while the price of gold rallied on Friday. For the week, each of the equity markets finished with modest gains, lead by the Nasdaq's 1% advance.

First, the scoreboard:

  • Dow: 17,634.7, -18, (-0.1%)
  • S&P 500: 2,039.82, +0.5, (+0.02%)
  • Nasdaq: 4,688.5, +8.4, (+0.2%)

And now, the top stories on Friday:

1. In what was otherwise a quiet week for economic data, we got two pieces of positive economic news regarding the health of the US consumer. Retail sales in October rose 0.3% from the prior month, beating expectations for a 0.2% increase, as sales at gasoline stations fell 1.5% against the prior month amid a major bear market for oil. The University of Michigan's preliminary consumer confidence reading for November came in at 89.4, its highest reading since July 2007. 

2. Following the retail sales report, Ian Shepherdson at Pantheon Macro said that while sales beat expectations in October, any real boost to consumer spending from the declining price of gas will likely not show up until the November report, though that impact should be larger. Paul Dales at Capital Economics, said the consumer confidence reading indicates there's a good chance "retailers' holiday wishes will be granted."

3. Oil prices keep falling, and Business Insider's Tomas Hirst has the big outline of the three main reasons being cited for the drop in the commodity: slowing growth in Europe and Asia, more supply drive by the US shale boom, and increased global production. And the International Energy Agency said in a recent report, "a return to previous price highs may not be a close prospect, as it is increasingly clear that we have begun a new chapter in the history of the oil markets."

4. Virgin America made its debut on the Nasdaq on Friday, and shares of the airline owned by Richard Branson rose 30% in their debut, giving the company a valuation of about $1.25 billion. The offering was priced at $23, and shares closed Friday's session at around $30.

5. Despite the lack of action in the equity markets, the "flight to safety" trade — which also saw bonds gain — had a little bit momentum on Friday, lead by the price of gold spiking more than 2% to around $1,190, the highest price for the precious metal since it breached $1,200 back at the end of October.  

6. Hertz shares fell more than 5% on Friday after the company disclosed that its net income will be reduced by $87 million over its fiscal years 2011, 2012, and 2013 after it restates its financial results following an internal review. The company said the biggest errors identified in its probe related to depreciation for some assets and accounts in Brazil, among other items. 

7. It was a quiet week in the markets, but don't let that lull you to sleep. In a midday email, the NYSE's Rich Barry said that markets are in "quiet consolidation mode," but this is okay! "As we noted yesterday, the major indices are technically overbought," Barry wrote. "This means the recent action we've witnessed since the October 15th six-month low has represented nothing less than a buying stampede into stocks. History tells us that 'overbought' scenarios are usually corrected either by an abrupt pullback in prices or by a period of boring, sideways consolidation. Today, we are seeing the latter, but our feeling is that next week we might be confronted with the former. Either way, it is okay."

Don't Miss: Credit Suisse Sent Out A Series Of Tweets Giving Its Economic Outlook For 2015 »

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We Live Way Longer Than We Expect (Newser Happy Hour 6-pack)

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


We Live Way Longer Than We Expect

We Live Way Longer Than We Expect

(Newser) - How long do you think you'll live? New research suggests you can tack a few more years on to whatever number you came up with. In 1992, University of Michigan researchers asked 26,000 Americans between the ages of 51 and 61 if they thought they would make it... More  »

 
After Man Tells Bishop He Smells, Vatican Takes Action

After Man Tells Bishop He Smells, Vatican Takes Action

(Newser) - Pope Francis made headlines last year when he said that he would like a "poor church, and for the poor." Now, after a man declined an invitation to dine with a bishop because, the man said simply, "puzzo"—or "I smell"—the pope is... More  »

 
Parents Must Pay Tuition for Estranged Daughter, 21

Parents Must Pay Tuition for Estranged Daughter, 21

(Newser) - New Jersey's Caitlyn Ricci appeared to take inspiration from Rachel Canning when she sued her parents for college tuition earlier this year—but Ricci won. The 21-year-old hasn't spoken to her divorced parents, Michael Ricci and Maura McGarvey, since February 2013, when she moved out of her mother'... More  »

 
Rape Victim: I Was Hounded About Faulty Hospital Bill

Rape Victim: I Was Hounded About Faulty Hospital Bill

(Newser) - Christine is a sexual assault forensic nurse from suburban Chicago; helping to put together Highland Park Hospital's sexual assault response protocol was one of her duties. So it was a particularly unwelcome surprise when, after she went to that same hospital in 2013 after being raped, she received a... More  »

 
Among Our Big Nuclear Problems: a Single Wrench

Among Our Big Nuclear Problems: a Single Wrench

(Newser) - Just 10 days before the deadline to wrap up nuclear negotiations with Iran, Defense Secretary Chuck Hagel is expected to announce today that there are "systemic problems across the nuclear enterprise," at least according to two Pentagon studies. Senior defense officials tell the New York Times that academic... More  »

 
WVU Puts Frats on Ice After 'Catastrophic Emergency'

WVU Puts Frats on Ice After 'Catastrophic Emergency'

(Newser) - Two fraternity incidents in less than two weeks spurred West Virginia University to take rather drastic action yesterday: It suspended all frat and sorority activities. The moratorium was imposed after 18-year-old Nolan Michael Burch was found by police unconscious and not breathing Wednesday evening at the Kappa Sigma house; an... More  »

 

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Bill Nye Reveals Why Climate Change Is So Hard To Stop

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Business Insider Select
 
November 14, 2014
Bill Nye Reveals Why Climate Change Is So Hard To Stop Bill Nye Reveals Why Climate Change Is So Hard To Stop

VIDEO: Bill Nye gets into the debate about climate change, and says it's actually pretty simple. Here's what he'd do.
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Here's The Real Science Behind Why You Gain Weight — And How To Lose It
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BI Answers: Why do people gain weight, and how can it be avoided? Being...  Read»
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Loneliness Changes The Brain
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Loneliness increases the risk of poor sleep, higher blood pressure...  Read»
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How This 25-Year-Old Made $66,000 In A Month By Teaching An Online Course
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When the iPhone started taking over the US in 2008, Nick Walter was in...  Read»
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The 5 Most Important Things To Remember When Updating Your Résumé
After 16 years as a career coach, I've probably reviewed over 8,000...  Read»
Uber's CEO Doesn't Have A Perfect Uber Rating
When you take a ride in an Uber vehicle, the first things you'll notice...  Read»
America Is Still Bombing The Mysterious Khorasan Terrorist Group
US-led air strikes continued to target ISIS militants in Syria and Iraq...  Read»
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How One College Grad Paid Off $28,000 Of Debt While Earning $30,000
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The average college senior graduated with $29,400 in student...  Read»
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This One Chart Shows Tesla's Plan To Disrupt The Auto Industry
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The auto industry is home to some of the mightiest names in business —...  Read»
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Countries Around The World Are Worried About 'Killer Robots'
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Nations are becoming increasingly concerned over the threat of killer...  Read»
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Russia And Serbia Conducted A Spectacular Military Drill Today, Just Miles From NATO Ground
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