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Tuesday, December 23, 2014

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December 23, 2014
Business Insider's 2014 IGNITION Conference Brought Some Of The Best Minds In Tech And Media Together Business Insider's 2014 IGNITION Conference Brought Some Of The Best Minds In Tech And Media Together
by Business Insider on Dec 23, 2014, 9:48 AM
In December we hosted our annual IGNITION...


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New 'Bourbon Virus' Kills Kansas Man (Newser Happy Hour 6-pack)

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


New 'Bourbon Virus' Kills Kansas Man

New 'Bourbon Virus' Kills Kansas Man

(Newser) - A deadly virus new to science may be lurking in the woods of Kansas, according to researchers at the University of Kansas Hospital. A man who died in the state in June is the only known victim of the "Bourbon Virus," which is believed to be tick-borne and... More  »

 
Today Boots Amy Adams for Clamming Up on Sony

Today Boots Amy Adams for Clamming Up on Sony

(Newser) - First rule about Sony email hacks: Don't talk about Sony email hacks. Or so go the reports about Amy Adams' aborted appearance on the Today show. Adams, who was in New York to promote her new movie, Big Eyes, was reportedly uncomfortable answering questions about the hack, in which... More  »

 
Mystery Allergic Reaction Kills Girl, 11, on Vacation

Mystery Allergic Reaction Kills Girl, 11, on Vacation

(Newser) - On Thanksgiving Day, Paige Warner and her family flew to Honolulu for the 11-year-old's first trip to Hawaii. She "was so excited," recounts mom Karin Carpenter, who explains that after a holiday dinner of white rice and soy sauce—Paige had "extensive" food allergies—her daughter... More  »

 
Screens Mess With Our Sleep—Even If We Get 8 Hours

Screens Mess With Our Sleep—Even If We Get 8 Hours

(Newser) - Your iPad or smartphone could well be hurting your sleep patterns, even if you're getting in a full eight hours of shuteye, researchers say—and the effects could be long-term. Over a five-night period, researchers in Boston had some subjects read for four hours a night on an iPad;... More  »

 
'Mississippi Burning' Convict Won't Confess

'Mississippi Burning' Convict Won't Confess

(Newser) - Edgar Ray Killen has granted his first interview since being imprisoned in 2005 for the killing of three young civil rights workers 50 years ago, but he still refuses to discuss the events of 1964, much less confess. The 89-year-old, speaking to the AP inside the Mississippi State Penitentiary, says... More  »

 
North Korea's Internet Back Up

North Korea's Internet Back Up

(Newser) - After a mysterious outage that analysts believe lasted for around nine hours, Internet service has been at least partially restored for the handful of North Koreans who were allowed to get online in the first place. Experts say they've detected denial-of-service attacks on the country's Internet, but while... More  »

 

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DOW 18,000 AFTER 5.0% GDP: Here's What You Need To Know

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December 23, 2014

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This US economy is on fire. A stunning revision to Q3 GDP helped propel the US stock markets to record highs.

First, the scoreboard:

  • Dow: 18,024.1, +64.7, (+0.3%)
  • S&P 500: 2,082.1, +3.6, (+0.1%)
  • Nasdaq: 4,765.4, -16.0, (-0.3%)

And now, the top stories on Friday:

1. GDP! Q3 GDP growth was just revised up to 5.0%, from last month's estimate of 3.9%. This is the fastest pace of growth since Q3 2003. This was also much stronger than the 4.3% expected by economists. Personal consumption growth was revised up significantly to 3.2% from 2.2%.

2. Adjusted GDP! GDP skeptics often point to fluctuations in inventories and trade as factors distorting the truth. BMO Capital's Jennifer Lee notes that all of the popular adjusted GDP metrics still hit multiyear highs. "Real gross domestic purchases (or GDP ex net exports) grew 4.1% annualized (was estimated at 3.0%), the second quarter in a row of 4%-plus gains. Final domestic demand (or GDP ex inventories and net exports) grew 4.1% annualized (was estimated at 3.2%), a four-year high. Final sales (or GDP ex inventories) grew 5.0% annualized (was estimated at 4.1%), an eight-year high."

3. Stocks! The Dow and S&P 500 set new intraday highs today. The Dow got as high as 18,069.22 and the S&P 500 got as high as 2,086.73. Here are some fun stats from Intercontinental Exchange managing director Charlie Brown: "I am told that it has been 172 days since the Dow closed above 17,000.  This would make it the 5th fastest trip between thousands on the Dow, with the record being 35 days in 1999 when it rocketed from 10,000 to 11,000. To put this in context it was 5,200 days for the Dow to rise from 1,000 to 2,000 in 1972."

4. Durable Goods Miss. There was a lot of economic data today, and not all of it was good. Durable goods orders fell 0.7% in November, which was worse than the 3.0% increase expected by economists. Nondefense capital goods orders excluding aircraft, or core capex, grew 0.0%; economists were looking for 1.0%. "Durable goods orders from the Census Bureau are subject to frequent revision; however, at currently reported levels, we view the data as consistent with a slower pace of investment spending and manufacturing activity," Barclays' Jesse Hurwitz said.

5. New Home Sales Miss. The pace of new home sales unexpectedly fell 1.6% to an annualized rate of 438,000 units, which was lower than the 460,000 unit rate expected by economists. "We have seen both existing and pending home sales lose a bit of steam recently, as well," BNP Paribas' Derek Lindsey reminded.

6. But Consumer Confidence Is Up! The University of Michigan's consumer confidence index surged to 93.6 in December, the highest level since January 2007. "Consumers held the most favorable long-term prospects for the national economy in the past decade," said Richard Curtin, the survey's director via Reuters. "Importantly, the 2014 gains in jobs and wages were widespread across all population subgroups and regions."

7. And Personal Spending Is Up! Personal income climbed by 0.4% in November as personal spending growth accelerated to 0.6%. "We suspect that stronger real consumer spending data will help support Q4 growth momentum despite potentially weaker investment activity hinted at by the weaker durable goods orders report earlier this morning," TD Securities Gennadiy Goldberg said.

Don't Miss: If You Missed The Rally, Then You Just Made The Most Classic Mistake In Investing »

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E-COMMERCE BENCHMARKS REVEALED: How Top Retailers Stack Up On Mobile And The Web

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Business Insider Select
 
December 23, 2014
E-COMMERCE BENCHMARKS REVEALED: How Top Retailers Stack Up On Mobile And The Web E-COMMERCE BENCHMARKS REVEALED: How Top Retailers Stack Up On Mobile And The Web

Many top retailers underperform across a series of important e-commerce metrics.
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THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem
THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem
A look at the trends that will shape the payments industry going forward.   Read»
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The Microsoft Engine That Nailed The World Cup Is Predicting Every NFL Game — Here Are Its Picks For Week 17
The Microsoft Engine That Nailed The World Cup Is Predicting Every NFL Game — Here Are Its Picks For Week 17
Microsoft Cortana had a lackluster Week 16, correctly...  Read»
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This Simple Equation Will Tell You How Much Of Your Portfolio To Invest In Stocks
This Simple Equation Will Tell You How Much Of Your Portfolio To Invest In Stocks
A balanced investment portfolio is important to have throughout your...  Read»
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12 Podcasts That Will Make You Smarter About Money
I know a lot of people have rough commutes. After living in two major...  Read»
Mark Cuban Explains How His Confidential Messaging App Cyber Dust Works
VIDEO: Mark Cuban tells us how his new app Cyber Dust helps erase his social media footprint and keep information confidential.  Read»
HOUSE OF THE DAY: Comedian Dennis Miller Is Selling His Gorgeous California Beach Home For $22.5 Million
Comedian Dennis Miller, known for his years on Saturday Night Live, is...  Read»
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We Tested Which Alcohol Goes Best With Eggnog — Here Are The Results
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Make this Christmas easy on everyone by having a festive, holiday drink...  Read»
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Sallie Krawcheck Remembers Her Twenties Being 'A Lost Journey' — Until One Amazing Day Changed Everything
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America's Top 10 New Bike Lanes
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A well-designed bike lane can make the road safer for bicyclists...  Read»
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Why Are Christmas Trees Triangle Shaped?
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Evergreen trees – such as spruces, pines and firs – have the shape...  Read»
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See Also
Why Businesses And Cities Will Be The Largest Adopters Of The 'Internet of Things'
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