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Wednesday, December 17, 2014

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December 17, 2014
Russian State TV Just Ran A Bigoted Segment On What Races To Shun On New Year's Russian State TV Just Ran A Bigoted Segment On What Races To Shun On New Year's
by Glenn Kates on Dec 17, 2014, 1:42 PM
You always want to avoid drinking with somebody...


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9-Year-Old's Joyride Ends With 2 Kids Dead (Newser Happy Hour 6-pack)

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


9-Year-Old's Joyride Ends With 2 Kids Dead

9-Year-Old's Joyride Ends With 2 Kids Dead

(Newser) - On Friday night, 9-year-old Ty'Jun Thigpen got hold of his mom's car keys and climbed into her Mercury in Scott County, Miss., along with three other children. The joyride ended in tragedy when Ty'Jun noticed the blue lights of a Mississippi Highway Patrol safety checkpoint along a... More  »

 
7th Heaven Dad: Yes, I Molested Girls

7th Heaven Dad: Yes, I Molested Girls

(Newser) - The accusations are true: 7th Heaven actor Stephen Collins has confessed in a statement to People that he did, in fact, have inappropriate sexual contact with three minors. The 67-year-old says the incidents, which he "deeply regret[s]," took place between 1973 and 1994 and that he has "... More  »

 
Dalai Lama: I Could Be the Last One

Dalai Lama: I Could Be the Last One

(Newser) - The current Dalai Lama says he could be the last, and it could be for the best. "The Dalai Lama institution will cease one day. These man-made institutions will cease," he told the BBC in an interview. "There is no guarantee that some stupid Dalai Lama won'... More  »

 
Interview Premiere Axed, Theaters Get OK to Pull It

Interview Premiere Axed, Theaters Get OK to Pull It

(Newser) - It's not looking good for The Interview: The movie's New York City premiere has been canceled after a threat from the Sony hackers , and Sony Pictures says theaters that had arranged to show it are free to pull it. Carmike Cinemas, the country's fourth-largest cinema chain, has... More  »

 
18K Tons of Concrete Head for Bottom of Gulf of Mexico

18K Tons of Concrete Head for Bottom of Gulf of Mexico

(Newser) - Workers are planning to dump 18,000 tons of concrete into the Gulf of Mexico—for a good reason. Hurricanes and changing currents have destroyed the reef system in Gulf waters around Florida's Collier County, according to the Community Foundation of Collier County , so the county, along with the... More  »

 
CNN's #AskACop Doesn't Go So Well (for Cops)

CNN's #AskACop Doesn't Go So Well (for Cops)

(Newser) - It's been a year of epic hashtag fails: first #MyNYPD , then #CosbyMeme , and now CNN's #AskACop. In advance of the station's "Cops Under Fire" town hall segment last night, hosted by Don Lemon, CNN put a call out for people to tweet questions to its panel... More  »

 

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STOCKS HAVE BEST DAY OF THE YEAR: Here's What You Need To Know

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December 17, 2014

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The S&P 500 had its best day of the year to end a three-day losing streak after the Federal Reserve's latest monetary policy statement saw the Fed say it would be "patient" before raising interest rates for the first time since before the Financial Crisis. 

First, the scoreboard:

  • Dow: 17,356.8, +288, (+1.7%)
  • S&P 500: 2,012.9, +40, (+2.04%)
  • Nasdaq: 4,644.3, +96.5, (+2.1%)

And now, the top stories on Wednesday:

1. It was all about the Fed. On Wednesday, the Federal Reserve released its latest monetary policy statement, replacing "considerable time" with "patient" when describing how it plans to approach the beginning of interest rate hikes, or what the Fed calls "policy normalization." Here's the key passage from the Fed statement: "Based on its current assessment, the Committee judges that it can be patient in beginning to normalize the stance of monetary policy." The Fed added that it sees this guidance as "consistent" with its prior guidance that it would wait a "considerable time" between the end of QE and the beginning of interest rate hikes. 

2. Fed Chair Janet Yellen also held a press conference following the meeting, and added some more color around what "patience" really means, saying that the Fed expects to keep rates pegged near 0% for "at least the next couple of meetings." Yellen again emphasized that the Fed would monitor incoming data, and said that faster than expected improvements in the economy could warrant more aggressive action, while economic conditions that disappoint could see the Fed keep rates lower for a longer time than it currently expects. 

3. Yellen was also asked about the impact that oil could have on consumer prices, as the declining price of oil is expected to keep headline inflation — which doesn't strip out the more volatile costs of food and energy — well below the Fed's target. Yellen said that the impacts of oil prices on inflation are likely to be "transitory," adding that in the past, when inflation expectations have been "well-anchored" these declines in commodity prices have not had a lasting impact on inflation. 

4. Oil had another wild session on Wednesday. Near noon on Wednesday, WTI futures surged to nearly $59 a barrel after sitting near $55 for most of the morning. But during the afternoon, oil gave back almost all of these gains as the commodity remains highly volatile. 

5. With the Fed's latest policy statement, the Fed also released its latest Summary of Economic Projections, which also included the Fed's latest "dot plot" showing expectations for future interest rates. 

6. On Wednesday morning, the consumer price index fell by the most since December 2008. The "headline" index, which doesn't exclude the cost of food and gas, fell by 0.3% in November as the price of gas fell by 6.6% month-on-month. This was also the biggest monthly decline in gas prices since December 2008. "Core" inflation, which the Fed focuses on and strips out food and gas, rose by 0.1% in November and when compared to the prior year, rose 1.7%. 

Don't Miss: Saudi Arabia's Oil Strategy Is About More Than Destroying The US Shale Business »

SEE ALSO: Cuba Didn't Have A Choice Anymore

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Mobile Is Revolutionizing The Way Merchants Accept Payments And Manage Their Businesses

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Business Insider Select
 
December 17, 2014
Mobile Is Revolutionizing The Way Merchants Accept Payments And Manage Their Businesses Mobile Is Revolutionizing The Way Merchants Accept Payments And Manage Their Businesses

Some small retailers are reverting back to legacy point-of-sale systems.
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New Simulation Proves That Alcatraz's 'Ingenious' 1962 Escapees Could Have Survived
New Simulation Proves That Alcatraz's 'Ingenious' 1962 Escapees Could Have Survived
If they had timed their escape just right, three prisoners who slipped...  Read»
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A Reporter Drove For Lyft For A Week And Didn't Make Close To The Company's $35-An-Hour Claim
A Reporter Drove For Lyft For A Week And Didn't Make Close To The Company's $35-An-Hour Claim
Much has been written contrasting Uber's promise that drivers can...  Read»
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The Oil Price Drop Is Like Something You See In A Global Recession
The Oil Price Drop Is Like Something You See In A Global Recession
FA Insights is a daily newsletter from Business Insider that delivers...  Read»
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The Microsoft Engine That Nailed The World Cup Is Predicting Every NFL Game — Here Are Its Picks For Week 16
Microsoft Cortana had one of its best weeks of the year in Week 15...  Read»
A Series Of Big Storms Won't Be Enough To Fix The California Drought
Residents of California rejoiced last week when a series of winter...  Read»
Russia Has Surpassed The US In The Production Of Combat Aircraft
According to the Joint Stock Company UAC (United Aircraft-building...  Read»
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Scientists Only Just Figured Out Where Fat Goes When You Lose Weight
Scientists Only Just Figured Out Where Fat Goes When You Lose Weight
Tip: there is a lot of water involved.  Read»
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A Tycoon In Iraq Is Building A $20 Million Replica Of The White House Miles From ISIS Strongholds
A Tycoon In Iraq Is Building A $20 Million Replica Of The White House Miles From ISIS Strongholds
A Kurdish business tycoon is building a $20 million replica of the White...  Read»
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Here's How Many 'Super Nukes' American Scientists Thought It Would Take To Destroy The World In 1945
Here's How Many 'Super Nukes' American Scientists Thought It Would Take To Destroy The World In 1945
Shortly after the end of World War II, the scientists who developed the...  Read»
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Study Finds Teams With Gender Diversity Have Less Fun, But Do Better Work
Study Finds Teams With Gender Diversity Have Less Fun, But Do Better Work
A new study suggests that men and women don't necessarily enjoy working...  Read»
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See Also
Tiny Plastic Bits Too Small To See Are Destroying The Oceans
Tiny Plastic Bits Too Small To See Are Destroying The Oceans
There are at least 268,000 tonnes of plastic floating around in the...
  Read»  
Entrepreneurs Share 8 Tips To Boost Productivity During Holiday Chaos
Entrepreneurs Share 8 Tips To Boost Productivity During Holiday Chaos
The holiday season can be a stressful, busy time of year. Between...
  Read»  
The Acura NSX Supercar Is Officially Back — And It Will Have 3 Engines!
The Acura NSX Supercar Is Officially Back — And It Will Have 3 Engines!
Acura has finally released the first teaser photos of its long-awaited...
  Read»  
How A 13-Year-Old Hooked Mark Cuban On 'Shark Tank'
How A 13-Year-Old Hooked Mark Cuban On 'Shark Tank'
A special Christmas episode of ABC's Shark Tank saw one...
  Read»  


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