Market Report: Tablets at Buffalo Wild Wings and Applebee's and Bitcoins Explained

6 years 3 months 3 weeks ago Sunday, December 15 2013 Dec 15, 2013 Sunday, December 15, 2013 3:05:00 PM CST December 15, 2013 in News
By: William Joy, KOMU 8 Reporter
loading

COLUMBIA - U.S. stocks dropped the most since August this week.

The Dow Jones Industrial Average finished down 264 points to close at 15,755.36, a 1.65 percent drop. The NASDAQ finished at 4,000.98, down 1.51 percent, dropping 61 points, and the S&P 500, fell 1.65 percent to 1,775.32, with AT&T and Verizon being two of the biggest losers. The overall losses come as investors are increasingly worried about a taper from the federal reserve with better economic data coming out.

Looking at some of that economic data in the past four years reveals some interesting trends. According to a report from Bloomerg.com, spending on durable goods like automobiles or appliances has gone up 34 percent since the middle of 2009. On the other hand, spending on services like healthcare, rents, or utilities has only increased 6 percent. Economists are saying the reason for the difference is more young graduates living at home with their parents, so they continue to fall under family plans and don't pay rent.\

If you eat at Applebee's, Chili's or Buffalo Wild Wings, you'll be seeing a tablet sized change soon. Applebee's has announced they're going to start using tablets called E la Carte Presto tablets to allow customers to place orders and pay their checks. The restaurant says 1,800 locations will have the tablets by the end of next year. Buffalo Wild Wings is testing out the tablet and Chili's will be putting them in hundreds of their locations starting next year. Applebee's said when they tested the tablets, tips and appetizer sales increased.

A new currency called Bitcoin has been in the news a lot lately, so here's a quick explanation of it. First, Bitcoins are virtual, not hard currency, like an email versus a mailed letter. They're discovered during a process called "mining" which is just when people use computers to solve a very complex math problem, which releases new coins. The problem gets more difficult each time and so far 11 million coins have been discovered. There are only 21 million coins that will ever exist because of the way the computer program is set up. You keep Bitcoins in an online account called a "wallet" using a secure website. The downside is the website isn't FDIC insured like normal banks if your account is hacked and your money is stolen. It was originally popular with drug dealers because it's almost entirely anonymous, but it's becoming more mainstream. The currency isn't widely accepted yet, but sites like Wordpress or OkCupid already accept it and there's even a rumor Starbucks might accept it soon. Right now one Bitcoin is equal to roughly $900.

As far as the week ahead, on Wednesday housing starts and building permit numbers come out, which is a key component of judging economic growth. There will also be an announcement by the Federal Reserve, which is probably the highlight of the week. Thursday, the initial jobless claims come out, and employment is the main area people are looking at to judge the economy's health right now.

 

More News

Grid
List
ST. LOUIS COUNTY (CNN) - The Ferguson-Florissant school district in Missouri has suspended the home delivery of meals to students... More >>
34 minutes ago Tuesday, April 07 2020 Apr 7, 2020 Tuesday, April 07, 2020 7:52:00 AM CDT April 07, 2020 in News
Two insurers -- Allstate and American Family Insurance -- announced Monday they will give back about $800 million to their... More >>
8 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 11:49:00 PM CDT April 06, 2020 in News
KOMU 8's Emily Spain talked with registered dietitian Jennifer Tveitnes Monday about how to handle stress eating and keep eating... More >>
10 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 9:37:00 PM CDT April 06, 2020 in News
COLUMBIA— An invasive beetle that’s deadly to ash trees has now spread to 78 counties in Missouri, state conservation officials... More >>
11 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 8:34:00 PM CDT April 06, 2020 in News
COLUMBIA - The Missouri Department of Agriculture and the State Milk Board wrote an open letter Monday asking grocery stores... More >>
12 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 8:25:00 PM CDT April 06, 2020 in News
COLUMBIA — Columbia police arrested four suspects after reports of property damage and injuries resulting from BB gun shots. ... More >>
14 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 5:34:00 PM CDT April 06, 2020 in News
COLUMBIA - Governor Mike Parson answered citizens questions about the "Stay Home Missouri" order, specifically why non-essential businesses can remain... More >>
15 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 4:30:00 PM CDT April 06, 2020 in News
COLUMBIA - A temporary camp that was set up to help homeless people deal with the COVID-19 outbreak has been... More >>
16 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 4:25:00 PM CDT April 06, 2020 in News
COLUMBIA – Animal shelters are looking for alternative ways to allow adoptions and find foster homes during the COVID-19 pandemic.... More >>
16 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 3:39:00 PM CDT April 06, 2020 in News
COLUMBIA - Before the pandemic, women going into labor had the option to bring more than one person into the... More >>
17 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 2:38:00 PM CDT April 06, 2020 in News
COLUMBIA — As state and commercial testing is more available for the Missourians, the number of confirmed cases is rising.... More >>
18 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 2:20:00 PM CDT April 06, 2020 in News
MEXICO – On the first day of Missouri’s statewide stay-at-home order, communities without prior orders in place are now falling... More >>
18 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 2:16:00 PM CDT April 06, 2020 in News
COLUMBIA - The Columbia Police Department is asking for help to identify a suspect who threw rocks at windows of... More >>
19 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 1:15:00 PM CDT April 06, 2020 in News
CAMDEN COUNTY - John D. Varvera, 48, of Gravios Mills is charged with two felonies and denied bond after deputies... More >>
21 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 11:10:00 AM CDT April 06, 2020 in News
As COVID-19 spreads, KOMU 8 will continue to update you about the impacts on the community. KOMU 8 News... More >>
23 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 8:59:00 AM CDT April 06, 2020 in News
COLUMBIA - The University of Missouri will continue remote learning for the summer term due to the ongoing COVID-19 situation,... More >>
23 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 8:45:11 AM CDT April 06, 2020 in News
COLUMBIA - Columbia Public Schools announced updates to its learning system for students and staff, who have been working from... More >>
23 hours ago Monday, April 06 2020 Apr 6, 2020 Monday, April 06, 2020 8:44:00 AM CDT April 06, 2020 in News
COLUMBIA - The Columbia City Council approved a number of issues at their meeting Monday night. The council approved... More >>
1 day ago Sunday, April 05 2020 Apr 5, 2020 Sunday, April 05, 2020 9:44:00 PM CDT April 05, 2020 in News
Columbia, MO
Broken Clouds 64°
9am 66°
10am 67°
11am 69°
12pm 70°