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Thursday, January 22, 2015

Daily Alert: Media

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January 22, 2015
A State-Run Chinese Newspaper Faked An Op-Ed Under An American Journalist's Name A State-Run Chinese Newspaper Faked An Op-Ed Under An American Journalist's Name
by Christina Sterbenz on Jan 22, 2015, 1:34 PM
In early January, New Yorker writer Peter...


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STOCKS RALLY AFTER THE ECB: Here's What You Need To Know

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January 22, 2015

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Stocks staged a huge rally on Thursday after the European Central Bank announced it would start a long-anticipated quantitative easing program to stave off deflation in the eurozone. 

First, the scoreboard:

  • Dow: 17,813.98, +259.7, (+1.5%)
  • S&P 500: 2,063.15, +31, (+1.5%)
  • Nasdaq: 4,750.4, +83,(+1.8%)

And now, the top stories on Thursday:

1. Thursday was all about the ECB. The ECB announced on Thursday that starting in March it will purchase €60 billion of bonds per month until September 2016, more than the €50 billion that was expected after reports leaking the amount surfaced on Wednesday. ECB president Mario Draghi said a "large majority" of the ECB board was in favor of the package, but did not make it sound like a unanimous decision from his comments.

2. And while much was made of the per-month amount of purchases exceeding expectations, Business Insider's Tomas Hirst argues that the most important sentence in the ECB's statement was that it would continue purchases, "until [the ECB sees] a sustained adjustment in the path of inflation." In short, as Hirst writes, the ECB on Thursday announced an open-ended commitment to purchasing assets until inflation picks up. The ECB, like the Fed, has a mandate for "price stability," and is targeting 2% inflation. Currently, year-on-year inflation in the ECB is running at around 0.4% and is expected to fall as the price of oil has cratered in the last several months. 

3. Also in central bank news, the Danmarks Nationalbank, the Danish central bank, lowered its main deposit rate to -0.35% from -0.2% in response to the ECB's announcement. The Danmarks Nationalbank is currently the only European central bank maintaining its currency peg against the euro after the Swiss National Bank last week abandoned its peg as the devaluation of the euro made this level prohibitive to continue targeting. 

4. In the US, the weekly report on initial jobless claims fell to 310,000 from last week's revised level of 317,000, though this was still higher than the 300,000 that was expected. In a note following the report, Ian Shepherdson at Pantheon Macro said that seasonal adjustments are likely still impacting the number, and that the trend in claims is still near 290,000. 

5. Following the ECB's announcement, the euro fell to an 11-year low against the US dollar, falling below 1.14 to as low as 1.1365. A year ago, the euro was worth around 1.37 to the dollar. Thursday's gains in US stocks also pushed them back into the green for the year. 

6. Earnings season is kicking into high gear, and next week we will get one of the most anticipated reports on Wall Street: Apple. In a note to clients on Thursday, top Apple analyst Gene Munster of Piper Jaffray outlined the five things Apple needs to focus on, in order: iPhone, iOS, Apple Watch, Mac, and Emerging Products. So, it is simply all about iPhone. 

Don't Miss: Here Are The Owners Of European Sovereign Debt »

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Dad Arrested for Giving Cannabis Oil to Dying Girl, 2 (Newser Happy Hour 6-pack)

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


Dad Arrested for Giving Cannabis Oil to Dying Girl, 2

Dad Arrested for Giving Cannabis Oil to Dying Girl, 2

(Newser) - A 2-year-old girl was recently given a 50/50 chance of surviving stage 4 neuroblastoma cancer, and dad Adam Koessler wants to do everything in his power to boost those chances. The Australian man started putting cannabis oil in Rumer's food and noticed "extremely beneficial" and even "miraculous"... More  »

 
Frilled Shark With 300 Teeth Caught Off Australia

Frilled Shark With 300 Teeth Caught Off Australia

(Newser) - Fishermen off the coast of Australia were startled to haul in something none of them had ever seen before: a rare species of "living fossil" shark virtually unchanged since before dinosaurs went extinct. The frilled shark they caught was around 5 feet long, almost as big as they get,... More  »

 
London Mayor Hit With Huge US Tax Bill

London Mayor Hit With Huge US Tax Bill

(Newser) - Many Londoners might not know their mayor has an American passport as well as a British one—but Uncle Sam is certainly aware of it. Boris Johnson was born in New York, and as an American citizen, he's liable to pay American taxes, which he has reluctantly agreed to... More  »

 
Newtown Votes to Destroy Lanza Home

Newtown Votes to Destroy Lanza Home

(Newser) - The Newtown, Conn., home that one neighbor describes as "a constant reminder of the evil that resided there" is going to be destroyed. Officials in the town have voted to tear down the home where Adam Lanza lived and leave the land as open space, reports the Hartford Courant... More  »

 
Turning Up Voltage on E-Cigs Is a Very Bad Idea

Turning Up Voltage on E-Cigs Is a Very Bad Idea

(Newser) - It's still too early to say whether e-cigarettes cause cancer the way regular cigarettes do, researchers say, but what they can tell at this stage is that at high voltage, the vapor they produce is a lot higher in at least one carcinogen than traditional smokes. A new study... More  »

 
Anger Over NJ Cops Who Killed Man With Arms Raised

Anger Over NJ Cops Who Killed Man With Arms Raised

(Newser) - A police video of officers confronting and fatally shooting a black man in southern New Jersey has raised questions and anger over another death at the hands of police. The video of the Dec. 30 killing of Jerame Reid in Bridgeton after a nearly two-minute standoff was released this week.... More  »

 

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A Japanese Hashtag Is Mocking ISIS Amid Hostage Threats

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Business Insider Select
 
January 22, 2015
A Japanese Hashtag Is Mocking ISIS Amid Hostage Threats A Japanese Hashtag Is Mocking ISIS Amid Hostage Threats

A Japanese hashtag mocking ISIS after its threat to kill two Japanese...
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How To Get Smart About Negotiating Your Rent
How To Get Smart About Negotiating Your Rent
Everything is negotiable ... everything except the rent on your...  Read»
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9 Resources That Will Make You Smarter About Investing
9 Resources That Will Make You Smarter About Investing
Investing can be a daunting concept. But it's not like there aren't...  Read»
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LIVE! Tom Brady Speaks
LIVE! Tom Brady Speaks
New England Patriots quarterback Tom Brady is talking about the...  Read»
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Here's How Long The Apple Watch's Battery Will Last
Apple has said that its forthcoming Apple Watch will need to recharge...  Read»
11 Things You Should Be Renting Instead Of Buying
Recent years have seen the flowering of the rental economy. What...  Read»
Mysterious White Spot On Dwarf Planet Ceres Has Astronomers Baffled
There's a big white spot on Ceres and we don't know what it is. We've...  Read»
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The Euro Is Tanking And Stocks Are Ripping Higher
The Euro Is Tanking And Stocks Are Ripping Higher
The euro is tanking after the European Central Bank announced a...  Read»
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Wal-Mart-Owned Supermarket Asda Is Launching Its Own Ad Exchange To Compete With The Web's Biggest Publishers
Wal-Mart-Owned Supermarket Asda Is Launching Its Own Ad Exchange To Compete With The Web's Biggest Publishers
Asda wants to compete with big web publishers like The Guardian and The Telegraph.  Read»
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The FBI Staged A Lovers' Fight To Catch The Alleged Kingpin Of The Web's Biggest Illegal Drug Marketplace
The FBI Staged A Lovers' Fight To Catch The Alleged Kingpin Of The Web's Biggest Illegal Drug Marketplace
The alleged kingpin of the world's largest online narcotics emporium was...  Read»
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Big Oil Plays A Big Part In Selling Tobacco To Children
Big Oil Plays A Big Part In Selling Tobacco To Children
For decades, there was no organized way to track and prevent cigarette...  Read»
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