(Newser) - An Australian teen whose legs were severed by a train while celebrating his 18th birthday died on Christmas Eve in the hospital, three days after the incident, ABC Australia reports. "The death of the young lad is very sad, very upsetting," Paul Hogan, mayor of Taree—where the... More »
(Newser) - As far as "best of 2014" lists go, the CIA has a pretty irresistible one: On Dec. 22 it started tweeting links to the 10 most popular articles of the year that it shared on Twitter, and the agency arrived at No. 1 yesterday, tweeting : "Reports of unusual... More »
(Newser) - The fate of Flight 8501 now appears to be a tragedy, not a mystery: Indonesian officials say search-and-rescue teams have recovered debris and bodies from the sea around 10 miles from where the AirAsia jet was last heard from on Sunday, in a spot roughly 100 miles from land. The... More »
(Newser) - Time Warner is still beating Comcast —if by "beating" we mean coming in first in "least popular company" surveys. The University of Michigan's American Consumer Satisfaction Index is out, and Time Warner Cable's ISP ranks dead last on a list of 230 household brands, scoring... More »
(Newser) - A 17-year-old Australian boy is dead after being attacked by what authorities suspect was a 13-foot-long great white—and a friend who was alongside him managed to survive after shooting the animal with his spear gun. "The shark hit me first, then attacked Jay," Matt Pullella wrote on... More »
(Newser) - Chris Rock was apparently unhappy when soon-to-be-ex-wife Malaak's statement made it sound like their decision to divorce was a mutual one, so, as TMZ puts it, his people "fired back ... making it clear HE was the one who filed for divorce." Now, sources connected to the couple... More »
Stocks slipped on the second-to-last trading day of the year as markets were quiet ahead of the New Years holiday, though the stock market will be open for a full day on Wednesday.
First, the scoreboard:
Dow: 17,983.1, -55.1, (-0.3%)
S&P 500: 2,080.3, -10.2, (-0.5%)
Nasdaq: 4,777.4, -29.5, (-0.6%)
And now, the top stories on Tuesday:
1. On Tuesday, housing data from the S&P/Case-Shiller home price index came in better than expected, as home prices rose 0.76% on a seasonally adjusted basis in October compared to the prior month, topping expectations for a 0.4% increase. Compared to last year, home prices also rose 4.5% in October, also better than expected. In comments on CNBC following the report, Yale professor Robert Shiller and one half of the Case-Shiller team, said the housing market in San Francisco looks "a little bubbly."
2. We got the final reading on consumer confidence for 2014, with the Conference Board's consumer confidence index coming in at 92.6, up from 88.7 last month but still a bit below expectations. Following the report, the Conference Board's Lynn Franco said, "Consumer confidence rebounded modestly in December, propelled by a considerably more favorable assessment of current economic and labor market conditions. As a result, the Present Situation Index is now at its highest level since February 2008."
3. It was a historic day on the floor of the New York Stock Exchange, as UBS floor director Art Cashin rang the opening bell to celebrate 50 years (!) since he joined the floor of the exchange. Cashin has long been a stalwart on the floor and is frequently seen on CNBC and other media outlets — including Business Insider — and as the NYSE's Rich Barry said in an email, "Most importantly it is Arthur, in his always calming and reassuring tone, which the media frequently seek out during periods of market turmoil. His is a voice that people have come to rely on and trust."
4. And it wouldn't be a celebration of Cashin's longevity on Wall Street without a bit of sound investing advice. As Business Insider's Andy Kiersz breaks down, Cashin shared a time-tested strategy with CNBC viewers in an appearance Tuesday morning: dollar-cost averaging.
5. Among the big stock losers on Tuesday were shares of oil services company Civeo, which provides housing accommodations for drilling and mining projects, which lost more than 50% after the company last night said it would suspend its dividend and reduce capital investment in 2015. The company, which was spun off from Oil States International earlier this year, is down more than 80% since that June split.
6. Gold rallied on Tuesday, spiking aggressively in late morning trade before settling at around $1,200 an ounce, more than $15/ounce higher than it was overnight. There was no obvious catalyst for the move higher in gold, though on a day when stocks were down, US Treasury bonds and gold — considered "safe haven" assets — gained some ground.