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Thursday, January 15, 2015

Aniston Talks About Ex, Gets Slammed by His Widow (Newser Happy Hour 6-pack)

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


Aniston Talks About Ex, Gets Slammed by His Widow

Aniston Talks About Ex, Gets Slammed by His Widow

(Newser) - Four sentences in a New York Times profile last week have set off quite a firestorm for Jennifer Aniston. Aniston, unprompted and without naming names, mentioned to the Times an old boyfriend of hers who died after their relationship ended. He wasn't even named in the piece: "He... More  »

 
Blogger to Be Lashed 50 Times in Round 2—of 20

Blogger to Be Lashed 50 Times in Round 2—of 20

(Newser) - Saudi Arabia tomorrow will deliver another 50 lashes to an imprisoned man whose crime was creating a blog perceived as a slight to Islam. Raif Badawi got his first 50 lashes last Friday, and he will continue to get 50 each Friday until he reaches a grand total of 1,... More  »

 
Mysterious 132-Year-Old Rifle Found in National Park

Mysterious 132-Year-Old Rifle Found in National Park

(Newser) - It was "the gun that won the West"—and it may have been leaning against a tree for more than a century. While surveying Nevada's Great Basin National Park in November, an archaeological crew spotted a Winchester Model 1873 in the woods. It was a lucky sighting:... More  »

 
Girl Dies After Being Shaken by Father—15 Years Ago

Girl Dies After Being Shaken by Father—15 Years Ago

(Newser) - When little Baylee Rose Duggins was just 3 months old, she was hospitalized after being shaken by her biological father—and 15 years later, she died as a result of that abuse. Baylee suffered severe head trauma, and the resulting brain damage left her legally blind and unable to walk,... More  »

 
Glitter-Bomb Site Founder Wants to Quit

Glitter-Bomb Site Founder Wants to Quit

(Newser) - The founder of the obscenity-filled ShipYourEnemiesGlitter.com would really like to stop shipping your enemies glitter. Yes, after an intense 24 hours that saw thousands of orders and a million people visit his website—which crashed under all the clicks, Fast Company reports—Australian Mathew Carpenter says he's ready... More  »

 
Connecticut Jolted by 12th Earthquake in Week

Connecticut Jolted by 12th Earthquake in Week

(Newser) - There's no fracking or tectonic plate boundaries in Connecticut, so experts haven't got a ready explanation for a swarm of earthquakes that has hit the eastern part of the state over the last week. There have been 12 quakes since last Thursday, the strongest of them a 3.... More  »

 

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STOCKS FALL AFTER SWISS STUNNER: Here's What You Need To Know

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January 15, 2015

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It was a wild day in the markets with the big news coming from Switzerland early in the morning after the Swiss National Bank announced that it would no longer peg the franc at 1.20 against the euro, sending currency, bond, and stock markets into chaos around the world. Stocks in the US were volatile, but ultimately finished lower for the fourth time this week and the fifth straight trading day.

First, the scoreboard:

  • Dow: 17,320.7, -106.4, (-0.6%)
  • S&P 500: 1,992.7, -18.6, (-0.9%)
  • Nasdaq: 4,570.8, -68.5, (-1.5%)

And now, the top stories on Thursday:

1. A total stunner out of Switzerland. Early Thursday morning the Swiss National Bank announced that it would abandon its ceiling of pegging the franc at 1.20 against the euro, sending the franc surging and creating havoc in currency markets. The SNB also took its interest rate even further into negative territory, to -0.75% from -0.25%, and in a statement the bank said, "The euro has depreciated considerably against the US dollar and this, in turn, has caused the Swiss franc to weaken against the US dollar. In these circumstances, the SNB concluded that enforcing and maintaining the minimum exchange rate for the Swiss franc against the euro is no longer justified."

2. Following the SNB's actions, Christine Lagarde, head of the IMF, was on CNBC and told the network that the IMF was not aware that the SNB was going to take the action they did on Thursday. "I find it a bit surprising that he did not contact me, but, you know, we'll check on that. By the way, the IMF used to be the referee of any currency variation. That has changed over time," Lagarde told CNBC.

3. Crude oil had a wild day, rising more than 5% early in the day as West Texas Intermediate crude topped $51 before coming back down to around $47 in afternoon trade. Also in the commodity space, gold had a big day, rising more than 2% to around $1,262 an ounce, as the precious metal continues its strong performance to begin the year. 

4. Stocks in the US had another volatile day and lost ground for the fourth time this week and the fifth day in a row overall. In an afternoon email, Rich Barry at the NYSE wrote, "Today is further proof that 'Volatility' is the theme for 2015."

5. In the US, we had a rash of economic data come out Thursday morning, with the weekly report on initial jobless claims showing that claims unexpectedly rose last week to 316,000, up from 294,000 last week. Ian Shepherdson at Pantheon Macro attributed the increase to seasonal adjustments, and said that next week might see an elevated claims number as well.

6. Energy costs continue to weigh on prices across businesses, as the producer price index showed that prices fell 0.3% in December, though this was slightly less than expected. "Core" prices, which exclude good and energy, rose 0.3% month-on-month in December and 2.1% compared to last year. On Friday morning we'll also get a reading on inflation as the latest consumer price index report will be released at 8:30 am ET. 

7. We also got manufacturing updates from the New York and Philadelphia Federal Reserve districts, with these reports running counter to one another as activity in the New York region ticked higher in January while Philadelphia saw the pace of growth slow markedly from the prior month. 

8. Citigroup and Bank of America were the latest US banks to report earnings, with both banks missing Wall Street estimates for earnings per share. 

Don't Miss: One Of The Best Predictors Of Recessions Is Rapidly Approaching The Here-Comes-A-Recession Level »

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