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More Bad News From Yahoo

Beleaguered Internet firm Yahoo YHOO reported more bad news ahead of the bell this Thursday, announcing that a data breach in August 2013 compromised more than one billion (with a "b") accounts - the biggest data breach in history. The hackers - reportedly working on behalf of a foreign government - used forged cookies that did not require passwords for access to online accounts.

Yahoo shares are down in the pre-market on the report, but the stock is still up 24% from a year ago and more than 150% over the past five years. Although the breach occurred three years back, this may further prod a migration away from Yahoo email usage.

November's Consumer Price Index (CPI) rose 0.2%, as expected. Stripping out food & energy costs, the figure remains 0.2%. This marks the fourth straight rise in CPI - in-line with most inflation evidence in there domestic economy - and up 1.7% year over year. Core CPI year over year is 2.1%, unchanged from October.

Initial Jobless Claims were mostly in-line with expectations: 254K vs. 256K in the consensus estimate. Still north of 250K, which we dipped below only slightly over the past several weeks, but this remains consistent with a robust U.S. labor market. Continuing claims stayed steady at 1.202 million.

Futures are down slightly in today's pre-market; there appears to be a cooling-off period before the Dow mounts its attack on the psychologically pleasing 20,000. The Fed raising interest rates 25 basis points (to 0.50-0.75) was the least-newsworthy result possible from this week's FOMC meeting - either no move or one greater than a quarter-percent would have had a much greater impact on Wednesday trading.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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