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<br /> The year 2013 is on its way out but are we really planning a blast to ring in the New Year? The good news is – Indians are still undeterred by the falling <keyword id="6355302" type="ORGANIZATION" weightage="80" keywordseo="Rupee">rupee</keyword> and looking forward to outbound travel in the coming holidays, just like they did this summer. But the way they travel is definitely changing, according to a senior executive of a Delhi-based <keyword id="6607315" type="ORGANIZATION" weightage="100" keywordseo="OTA">OTA</keyword>. Overseas travel no longer means the ritual rush through <keyword id="6357117" type="COMPANY" weightage="80" keywordseo="bangkok">Bangkok</keyword> or <keyword id="6356662" type="COUNTRY" weightage="80" keywordseo="Singapore">Singapore</keyword> – the global destinations closest to home and perhaps the least expensive. Of course, these places are not yet marked off the list, but the experienced and the well-heeled seem to have caught the travel bug of a different kind.<br />
<br /> <keyword id="1960912" type="UNKNOWN" weightage="100" keywordseo="Offbeat-destinations">Offbeat destinations</keyword> are getting increasingly popular among Indians, says Saurabh Srivastava, vice-president (marketing &amp; product strategy) at ixigo.com, a travel planning site and search engine that aggregates and curates travel information to help consumers.<br />
<br /> “Of the 2.5 million visitors coming to our site month on month, we see some very clear and emerging trends. While the <keyword id="1960914" type="UNKNOWN" weightage="100" keywordseo="Regular-overseas-travellers">regular overseas travellers</keyword> are increasingly looking at offbeat destinations to try out something different, first-timers or those who haven’t ventured outside the country too much, are still looking at <keyword id="1960915" type="UNKNOWN" weightage="100" keywordseo="Popular-destinations">popular destinations</keyword> like Bangkok, Singapore, <keyword id="8695" type="COUNTRY" weightage="80" keywordseo="Malaysia">Malaysia</keyword> and <keyword id="6355478" type="COUNTRY" weightage="80" keywordseo="Australia">Australia</keyword> – the main attractions being <keyword id="6396451" type="UNKNOWN" weightage="100" keywordseo="beaches">beaches</keyword>, <keyword id="60543" type="UNKNOWN" weightage="100" keywordseo="Water-sports">water sports</keyword> and <keyword id="6368952" type="ORGANIZATION" weightage="100" keywordseo="shopping">shopping</keyword>,” he observes.<br />
<br /> We have talked to a number of <keyword id="722880" type="UNKNOWN" weightage="100" keywordseo="travel-agencies">travel agencies</keyword> and rounded up 12 out-of-the-ordinary (but up and coming) places that people are closely following (and booking) these holidays. Here is a quick look at each of them with a glimpse of the local flavour and the basic cost per person on a twin-sharing basis. However, costs are only indicative and are bound to change, depending on your <keyword id="472754" type="UNKNOWN" weightage="100" keywordseo="Tour-schedule">tour schedule</keyword>, quality of <keyword id="6358762" type="UNKNOWN" weightage="100" keywordseo="Package">package</keyword>, customisation and service provider. Also, prices may fluctuate as dates get closer.<br />
<br /> Try planning a holiday if you love these destinations too. Just remember, sometimes, the best travel happens farthest from <keyword id="823132" type="ENTERTAINMENT" weightage="80" keywordseo="home-and-away">home and away</keyword> from your everyday ambience. Catch the sun on a <keyword id="1553372" type="UNKNOWN" weightage="100" keywordseo="foreign-soil">foreign soil</keyword> this New Year and bon voyage!

<b>Want To Vacation Abroad? These 12 Places Are Creating The
Buzz These Holidays</b>

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Heinz-Peter Bader/Reuters</span></p><p class="caption">Members of the State Opera ballet dance during a dress rehearsal of "Etudes" in Vienna December 12, 2013. The performance is part of "Ballet-Hommage" which will premiere on December 15, 2013.</p></div><p></p></div></div>US stocks hit all-time highs again on Thursday, rallying for the fifth straight day.</p><p>Earlier in the morning, the Dow touched 1<span>8,537.57, while</span> the S&amp;P jumped to 2,168.99 - new intra-day highs.</p><p>As for how they finished, let's head to the scoreboard:</p><ul><li><strong>Dow:</strong> 18,520.45 (+0.8%)</li><li><strong>S&amp;P 500:</strong> 2,163.57 (+0.6%)</li><li><strong>Nasdaq:</strong> 5,034.06 (+0.6%)</li><li><strong>WTI crude oil:</strong> $45.44 (+1.5%)</li><li><strong>10-year Treasury yield:</strong> 1.532 (+4.4%)</li></ul><p><strong>1. <a href="http://www.businessinsider.com/producer-price-index-june-2016-2016-7">Producer prices rose more than expected</a>.</strong> The producer price index (PPI) for final demand rose by 0.5% in June, according to the Labor Department. Economists were expecting a 0.3% increase. <span>The jump in prices was led by the index for final demand services, notably those related to securities brokerage and dealing, which increased 7.7%. Meanwhile, t<span>he index for final demand goods jumped by 0.8%, the most since May 2015, and was led by a 9.9% jump in the gas-price index. </span></span></p><p><strong>2. <a href="http://www.businessinsider.com/initial-jobless-claims-july-14-2016-7">Initial jobless claims held steady</a>.</strong> Initial jobless claims held steady at 254,000 from the prior week. Economists were expecting them to rise slightly to 265,000. Claims have not risen above 300,000 for 71 straight weeks now - the longest stretch since 1973.</p><p><strong>3. <a href="http://www.businessinsider.com/consumer-reports-tesla-turn-off-autopilot-2016-7">Consumer reports wants Tesla to turn off part of its Autopilot technology</a>.</strong> The influential consumer review magazine <span>said </span><a href="http://www.businessinsider.com/tesla-model-s-federal-government-investigation-2016-6">the recent fatal crash</a><span> that occurred while the Autopilot feature was engaged on a Tesla Model S </span><a href="http://www.businessinsider.com/how-the-tesla-autopilot-crash-affects-the-tesla-brand-2016-7">should give pause</a><span> to the <span>"company's aggressive roll-out of self-driving technology.</span></span><span style="line-height: 1.5em;"> The report continued: </span><span style="line-height: 1.5em;">"Consumer Reports experts believe that these two messages - your vehicle can drive itself, but you may need to take over the controls at a moment's notice - create potential for driver confusion."</span></p><p><strong>4. <a href="http://www.businessinsider.com/jpmorgan-q2-earnings-2016-7">JPMorgan</a><a href="http://www.businessinsider.com/jpmorgan-q2-earnings-2016-7"> beats.</a></strong> The firm reported <span>adjusted earnings per share of $1.46 on revenue of $25.20 billion. <span>Analysts were expecting adjusted earnings of $</span><span>1.43</span><span> a share on revenue of $24.50 billion, according to Bloomberg. </span></span><span>"Throughout the recent uncertainty and turbulence in the markets, we continued to be there for our clients - solid and steadfast to meet their needs, execute their transactions and provide liquidity," CEO Jamie Dimon said in a statement.</span></p><p><strong>5. <a href="http://www.businessinsider.com/delta-reducing-usuk-capacity-because-of-brexit-2016-7">Delta just said the "B" word...</a></strong><a href="http://www.businessinsider.com/delta-reducing-usuk-capacity-because-of-brexit-2016-7"></a> Delta Air Lines <span>announced adjusted earnings per share of $1.47 (versus $1.42 expected, according to Bloomberg) on operating revenue of $10.4 billion ($10.5 billion forecast.) And then the </span>company announced one of the <a href="http://www.businessinsider.com/companies-complaining-brexit-hurting-business-2016-7">impacts that Britain's unexpected decision last month</a> to leave the European Union would have on its operations: "With the additional foreign currency pressure from the steep drop in the British pound and the economic uncertainty from Brexit, Delta has decided to reduce 6 points of U.S.-U.K. capacity from its winter schedule." It's not unlikely that other firms will be referencing Brexit as well as we move through earnings season.</p><p><a href="http://www.businessinsider.com/citron-short-valeant-again-2016-7"></a><strong>6. <a href="http://www.businessinsider.com/trump-mike-pence-vice-president-2016-7">Multiple sources report that Donald Trump will select Indiana governor Mike Pence as his VP choice</a>.</strong> Capital Hill newspaper first reported on Thursday morning that Trump is expected to pick Indiana governor Mike Pence as his running mate, citing a Republican "with direct knowledge of the decision." However, a senior Trump communications adviser <a href="https://twitter.com/JasonMillerinDC/status/753628365739859968">cautioned on Twitter</a> <span>that Trump had not yet made an official decision on his vice presidential choice.</span></p><p><strong>Additionally:</strong></p><p><a href="http://www.businessinsider.com/art-cashin-conspiracy-theory-stock-rally-2016-7">Art Cashin says a "conspiracy theory" is going around that explains the latest stock rally</a>.</p><p><a href="http://www.businessinsider.com/economy-not-drowning-in-debt-2016-7">The world isn't "drowning in debt," even though there's more of it than ever before</a>.</p><p><a href="http://www.businessinsider.com/vietnams-students-test-well-and-a-new-paper-has-figured-out-why-2016-7">Vietnam's students perform mysteriously well on tests, and a new paper investigates why</a>.</p><p><a href="http://www.businessinsider.com/hong-kong-is-on-the-path-to-an-outright-recession-2016-7">Hong Kong is on the path to an "outright recession."</a></p><p><a href="http://www.businessinsider.com/linkedin-just-beginning-internet-merger-and-acqusition-2016-7">LinkedIn was just the beginning of internet M&amp;A.</a></p><p><a href="http://www.businessinsider.com/life-of-boris-johnson-2016-7">The life of Boris Johnson in pictures</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/virtual-reality-stock-market-tech-companies-vr-james-altucher-2016-4">Virtual reality could help the stock market reach all-time highs in 2016 and 2017</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="4zcDc2MzE6qW7b3gErOyoLPEpteZQliM" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

STOCKS HIT ALL-TIME HIGHS: Here's what you need to know

<p>If you've ever wanted to seem like an <keyword id="51418" type="UNKNOWN" weightage="60" keywordseo="architecture">architecture</keyword> buff and don't have a lot of time to study, the <a href="http://vimeo.com/56974716" target="_blank">ABC's of Architecture Vimeo vid</a> is for you.</p>
<p>The minute and half animated short from user <a href="http://vimeo.com/fedelpeye">fedelpeye</a> lists the world's most famous architects in alphabetical order with cartoon designs of their most famous buildings.</p>
<p>Check it out below:</p>
<p></p>
<p>And here's the full list of featured architects, via <a href="http://gizmodo.com/5974354/learn-the-abcs-of-architecture" target="_blank">Gizmodo</a>:</p>
<p>Alvar AAlto - Säynätsalo Town hall - Finland<br /> Luis Barragán - Satellite Towers - Mexico City<br /> Santiago Calatrava - Satolas Airport Railway Station - Lyon France<br /> Luís Domènech i Montaner - Antoni TÀpies foundation - Barcelona<br /> Eduardo Souto de Moura - Paula Rego's House of Stories - Cascais Portugal<br /> Norman Foster - London City Hall - England<br /> Frank Gehry - Guggenheim Bilbao - Spain<br /> Herzog &amp; de Meuron - Beijing National Stadium - China<br /> Arata Isozaki - Palau Sant Jordi - Barcelona<br /> Philip Johnson - The Glass House - New Canaan, Connecticut<br /> Louis Kahn - National Parliament of Bangladesh - Dhaka City<br /> le corbusier - Villa Savoye - Poissy, Francia<br /> Ludwig Mies van der Rohe - Barcelona Pavilion - Spain<br /> Oscar niemeyer - National Congress of Brazil, Brasília<br /> Joseph Maria Olbrich - Secession Building - Vienna - Austria<br /> César Pelli - Petronas Twin Tower - Kuala Lumpur, Malaysia<br /> Giacomo Quarenghi - The Smolny Institute - St. Petersburg, Russia.<br /> Renzo Piano + Richard Rogers - Pompidou Centre - Paris, Francia<br /> Álvaro Siza - Ibere Camargo Foundation - Porto Alegre, Brazil<br /> Kenzo Tange - Tokyo Olympic Stadium - Japan<br /> Jørn Utzon - Sydney Opera House - Australia<br /> William Van Alen - Chrysler Building - New York City<br /> Frank Lloyd Wright - Guggenheim New York - United States<br /> Lannis Xenakis - Philips Pavilion - Expo '58 in Brussels<br /> Minoru Yamasaki - World Trade Center - NYC<br /> Zaha Hadid - The Pierres Vives building - Montpellier, France</p>

The Who's Who of Architecture In Under 2 Minutes

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p><strong>Warning: This article contains some spoilers for "Mission: Impossible - Rogue Nation."</strong></p><p>In "<a href="http://www.techinsider.io/mission-impossible-rogue-nation-review-2015-7">Mission: Impossible - Rogue Nation</a>," Tom Cruise jumps through windows, spends <a href="http://www.businessinsider.com/mission-impossible-rogue-nation-how-tom-cruise-did-underwater-stunt-2015-7">a really long amount of time underwater</a>, and <a href="http://www.businessinsider.com/tom-cruise-mission-impossible-airplane-stunt-8-takes-2015-7">hangs onto the side of an airplane</a>.</p><p>Yet, even with all of these flashy stunts, the biggest stand out in the film is actress Rebecca Ferguson, who stars as Ilsa Faust.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>Faust is a formidable friend, and sometimes foe, to Cruise's Ethan Hunt. She bails him out of a few tough situations while still helping out the villainous&#xa0;<span>Solomon Lane (Sean Harris).</span>&#xa0;</p><p>They first meet after Ilsa frees Ethan&#xa0;after he is taken prisoner by the Syndicate, the same shadowy organization that she happens to work for. With very little hope of bringing the Syndicate down, Ethan turns to Ilsa for help. Throughout the film, she repeatedly helps and betrays Hunt and the Impossible Missions Force (IMF).</p><p>Her character is <a href="http://www.thedailybeast.com/articles/2015/08/01/the-second-coming-of-lauren-bacall-mission-impossible-star-rebecca-ferguson-s-breakout-turn.html">inspired by</a>&#xa0;Ingrid Bergman's Ilsa from "Casablanca", according to an interview Ferguson did with The Daily Beast. Coincidentally, much of the film was shot in Casablanca in Morocco.</p><p>Faust is a skilled&#xa0;fighter, and the fact that she did most of her own stunts makes scenes like this even more impressive:&#xa0;</p><p></p><p>She even helps get Tom Cruise out of a few tough situations, especially when they need to make a quick escape after trying to stop&#xa0;an assassination attempt:</p><p></p><h3><strong>Who is Rebecca Ferguson?</strong></h3><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>Ferguson is a Swedish actress who was born and raised in Stockholm. Now 31 years old, she&#xa0;has had roles in various Swedish TV shows and movies&#xa0;since 1999, when she was still a teenager.</p><p>However, she has also starred in many&#xa0;English and American movies prior to "Rogue Nation." She played Queen Elizabeth in&#xa0;<span>2013 Starz miniseries</span>&#xa0;"The White Queen", a role which earned her a Golden Globe nomination.</p><p>Her only previous American movie role was&#xa0;in 2014's "Hercules" alongside Dwayne "The Rock" Johnson. However, that is likely to change, given "Rogue Nation"'s big&#xa0;<a href="http://www.boxofficemojo.com/weekend/chart/">$55.5 million opening weekend</a>. Ferguson already has a few roles planned on the horizon. She is currently filming "Florence Foster Jenkins" alongside Meryl Streep and Hugh Grant.</p><p>While Cruise has gotten most the attention for doing his own stunts, Ferguson also took most of the action into her own hands as well.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p><a href="http://www.people.com/article/rebecca-ferguson-mission-impossible-rogue-nation-what-to-know">According to People</a>, Ferguson took notes from watching Cruise perform his own stunts, then underwent a month of intense training. Her action scenes couldn't have been easy for her to shoot. Her very first day of shooting, which took place at the Vienna State Opera, required her to overcome her fear of heights, <a href="http://www.thedailybeast.com/articles/2015/08/01/the-second-coming-of-lauren-bacall-mission-impossible-star-rebecca-ferguson-s-breakout-turn.html">according to The Daily Beast</a>.</p><p><span>"I had vertigo and I did a 120-foot free fall," <a href="http://www.people.com/article/rebecca-ferguson-mission-impossible-rogue-nation-what-to-know">Ferguson&#xa0;told People</a>. "I'm still patting myself on the shoulder for that one." </span></p><p>You can see Rebecca Ferguson steal the show from Tom Cruise in "Mission: Impossible - Rogue Nation," now playing in theaters.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/tom-cruise-stunts-mission-impossible-rogue-nation-2015-7">This 'Mission Impossible' behind-the-scenes footage of a 53-year-old Tom Cruise hanging off a plane is terrifying</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="IzbjA4djopCYzW9_4w3zercU8vZchV3a" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Here's the actress who steals the spotlight from Tom Cruise in 'Mission: Impossible - Rogue Nation'

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Stocks lost ground in the final hour of trading but held on to gains to start June in the green.</p><p>First, the scoreboard:</p><ul><li><span style="line-height: 1.5em;"><strong>Dow:</strong> </span><span style="color: #222222; line-height: 1.5em;">18,097.61, +86.93, (0.48%)</span></li><li><span style="color: #222222; line-height: 1.5em;"><strong>S&amp;P 500:</strong> </span><span style="color: #222222; line-height: 1.5em;">2,118.09, +10.70, (0.51%)</span></li><li><span style="color: #222222; line-height: 1.5em;"><strong>Nasdaq:</strong> </span><span style="color: #222222; line-height: 1.5em;">5,096.18, +26.15, (0.52%)</span></li></ul><p><span style="color: #222222; line-height: 1.5em;">And now, the top stories on Monday:.</span></p><ol><li>Economic data was plenty in the morning. In manufacturing numbers, <span style="color: #222222; line-height: 1.5em;">the </span><a href="http://www.businessinsider.com/markit-manufacturing-pmi-may-2015-6">Purchasing Manager's Index</a><span style="color: #222222; line-height: 1.5em;"> reading from Markit Economics came in at 54.0 in May, falling from the previous month but beating the forecast for 53.8. New orders rose at the slowest pace so far this year while manufacturing job creation grew at the fastest pace since November 2014. And, t</span><span style="color: #222222; line-height: 1.5em;">he <a href="http://www.businessinsider.com/ism-manufacturing-may-2015-6">ISM Manufacturing index rose in May</a>, coming in at 52.8 and beating expectations for 52.0.</span></li><li><span style="color: #222222; line-height: 1.5em;"><a href="http://www.businessinsider.com/personal-income-and-spending-june-1-2015-6">Personal income rose</a> 0.4% (0.3% expected) and spending was flat (0.2% expected) in April. The Personal Consumption Expenditures index, a measure of inflation, rose 0.1% month-over-month and 0.2% year-over-year on a "core" basis, which strips out the volatile costs of food and energy. Including these items, prices were flat in April and rose 0.1% year-over-year. "The April income and spending figures are another reminder that even though their incomes are rising at a healthy pace, households are still reluctant to boost spending more freely," wrote Capital Economics' Paul Ashworth in a note to clients after the data.</span></li><li><span style="color: #222222; line-height: 1.5em;"><a href="http://www.businessinsider.com/construction-spending-june-1-2015-6">Construction spending rose 2.2% in April</a>, more than economists' expectations for a 0.7% decline after a drop by 0.6% in March. In a note to clients after the data, Barclays economists wrote, "Upward revisions to Q1 data, including private residential, private nonresidential and public nonresidential construction spending imply a modest upward revision to investment figures in Q1 GDP. Together, these boosted our Q1 GDP tracking estimate one-tenth to -0.6%."</span></li><li><span style="color: #222222; line-height: 1.5em;"><a href="http://www.businessinsider.com/intel-is-buying-altera-for-54-a-share-2015-6">Intel is buying Altera for $54 a share</a> in an all-cash deal worth $16.7 billion. Altera had rejected an unsolicited offer in April. Intel, the world's largest chipmaker, is looking to expand into making chips for products like smart cars, beyond just those used in personal computers. This announcement follows news just last Thursday that Avago Tech is buying Broadcom for $37 billion - the biggest deal in the semiconductor industry. Altera shares jumped as much as 6%; Intel shares fell by around 1%.</span></li><li><span style="color: #222222; line-height: 1.5em;"><a href="http://www.businessinsider.com/gopro-new-cameras-and-share-price-june-1-2015-6">GoPro shares soared about 7% after it announced a new camera</a>. <span>The GoPro Hero+ LCD is a touchscreen device that fe<span>atures built-in WiFi and Bluetooth, can record 1080p60 video, and boasts up to two hours of recording time. <span>Last Thursday, GoPro </span><a href="http://www.businessinsider.com/gopro-share-price-may-28-2015-5">shares rallied</a><span> by 7% after CEO Nick Woodman said that the company is developing a six-camera virtual-reality recording system and a drone. </span></span></span></span></li><li><span style="color: #222222;"><a href="http://www.businessinsider.com/robert-shiller-stock-market-bubble-2015-5">Former Fed chair Ben Bernanke says stocks may not be overvalued</a>, after all. In a new blog post, he wrote, "Stock prices have risen rapidly over the past six years or so, but they were also severely depressed during and just after the financial crisis. Arguably, the Fed's actions have not led to permanent increases in stock prices, but instead have returned them to trend." Over the weekend, Yale professor and Nobel Laureate Robert Shiller said there is a "bubble element" to stocks, although he didn't go as far as calling it a classic bubble.</span></li></ol><p><strong>DON'T MISS: <a href="http://www.businessinsider.com/morgan-stanley-on-consumer-economy-risk-2015-6">You are the biggest threat to the economy »</a></strong></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/body-language-tricks-become-likable-2015-5">5 ways to change your body language to make people like you</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="prdnBkdTrvWNa0u8RHujLJuUBkcchhZZ" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

STOCKS RISE: Here's what you need to know

<p><div class="KonaFilter image-container float_right"><div class="image on-image"><p class="source">REUTERS/ Heinz-Peter Bader</p><p class="caption">Members of the State Opera ballet dance during a dress rehearsal of "Etudes" in Vienna December 12, 2013.</p></div><p></p></div>Good morning. Here's what you need to know.</p>
<ul>
<li>Asian markets were mixed in overnight trading. Japan's Nikkei closed up 0.40%, Korea's KOSPI was down 0.26%, and Hong Kong's Hang Seng edged up 0.12%. Markets in Europe were all higher, and U.S. futures were pointing north.</li>
<li>The House of Representatives <a href="http://www.businessinsider.com/house-passes-budget-bill-deal-paul-ryan-patty-murray-2013-12">easily passed a budget bill</a> yesterday evening after Senator Patty Murphy (D-Sen.) and Representative Paul Ryan (R-Wis.) brokered the deal. <span>The House voted in favor of the legislation by a 332-94 margin, and it now moves on to the Senate. "<span>The mini-bargain - the 'Bipartisan Budget Act of 2013' - sets discretionary spending levels a little above $1 trillion for the next two years, while repealing and replacing some cuts of sequestration," explains our Brett LoGiurato. "<span>In fiscal year 2014, spending is set at $1.012 trillion, which sits about halfway between the proposed levels of the House and Senate budgets. Law under sequestration calls for caps of $967 billion."</span></span></span></li>
<li>U.K. construction output <a href="http://www.bloomberg.com/news/2013-12-13/u-k-construction-rose-2-2-in-october-as-recovery-strengthened.html">rose 2.2% in October</a>, beating economist expectations. New private housing grew 5.3% year-over-year. "The report, along with an increase in industrial production in the same month, suggests the economy maintained momentum in the fourth quarter after growing 0.8 percent in the prior three months," reported Bloomberg's Scott Hamilton. "Bank of England Governor Mark Carney says that officials are monitoring the strength of the housing market for stability risks and have moved to damp mortgage activity."</li>
<li>Japan's industrial output increased 1% in October, beating the initial reading of a 0.5% bump. Shipments <a href="http://www.rttnews.com/2239205/japan-industrial-output-rises-more-than-initial-estimate.aspx?type=alleco">grew 2.3%</a> month-on-month, again beating the 1.8% rise estimated. The industrial output figure measures the amount of items produced by Japan's mining and manufacturing sectors.</li>
<li>Consumer confidence in New Zealand <a href="http://www.reuters.com/article/2013/12/13/newzealand-economy-confidence-idUSW9N0G502N20131213">reached a four year high</a>, according to a new survey. The ANZ-Roy Morgan survey index rose to 129.4 from 128.4 in November (any number above 100 is optimistic). The survey's growth indicator signaled a boost in spending and suggests a growth of close to about 5% by early next year, Reuters reports. </li>
<li>At 8:30 a.m. ET, we'll get U.S. producer price data. Economists are looking for producer prices to <a href="http://www.businessinsider.com/monday-scouting-report-dec-9-2013-2013-12">remain flat month-over-month</a>, up 0.1% excluding food and energy. "<span style="line-height: 1.5em; color: #222222;">With little change in energy prices over the past month and only tepid demand growth, we look for producer prices to have been little changed in November," wrote Wells Fargo's John Silvia. "Core price growth likely moderated over the month following a 1.7 percent increase in passenger car prices, which largely reflected the model year changeover."</span></li>
<li><span style="line-height: 1.5em; color: #222222;"><span style="line-height: 1.5em; color: #222222;">Ireland will become the <a href="http://www.businessinsider.com/ireland-is-officially-about-to-become-the-first-european-country-to-leave-its-bailout-program-2013-12">first eurozone country to leave its bailout program</a>, reports the Guardian's Henry McDonald. The <span>€85 billion ($72 billion) loan from the IMF, the European commission, and the European Central Bank (together known as the troika) formally expires this weekend. "</span></span></span><span style="color: #222222; line-height: 1.5em;">The general mood in Dublin remains one of resignation after three years of cuts in social welfare and state programmes with no visible euphoria on the streets," reports McDonald.</span></li>
<li><span style="color: #222222; line-height: 1.5em;">Jang Song-thaek, the uncle of North Korean leader Kim Jong-un and formerly one of his advisors, has been <a href="http://www.businessinsider.com/north-korea-jang-song-thaek-executed-2013-12">executed for treason</a>, according to state news agency KCNA. </span><span style="line-height: 1.5em; color: #222222;">"Despicable human scum Jang, who was worse than a dog, perpetrated thrice-cursed acts of treachery in betrayal of such profound trust and warmest paternal love shown by the party and the leader for him," the KCNA writes in its report.</span></li>
<li><span style="line-height: 1.5em; color: #222222;">A Chinese official has been <a href="http://www.businessinsider.com/sex-video-case-lands-another-china-official-in-jail-2013-12">sentenced to 14 years in jail for bribery</a> in the latest development in a strange sex tape story, Reuters reports. "</span><span style="color: #222222; line-height: 1.5em;">Han Shuming, a former district head in the southwestern city of Chongqing, was convicted of accepting bribes worth 4.4 million yuan ($724,759)," according to Reuters. "</span><span style="color: #222222; line-height: 1.5em;">Han was one of more than 20 officials and executives at state-owned companies who were investigated after a gang blackmailed them with secretly recorded sex videos."</span></li>
<li><span style="color: #222222; line-height: 1.5em;"><span style="color: #222222; line-height: 1.5em;">Mexico's Congress <a href="http://online.wsj.com/news/articles/SB10001424052702303932504579254013051981266?mod=WSJ_hp_LEFTWhatsNewsCollection">voted to end the 75-year monopoly of the state-owned oil firm</a> <span>Petróleos <span>Mexicanos, reports the Wall Street Journal's Juan Montes, Laurence Iliff, and David Luhnow. "<span>Proponents say the initiative will attract tens of billions of dollars in foreign investment, lift Mexico's sluggish economic growth, and add to a North American energy boom that could lower costs for manufacturers across the region," the Journal reports. "<span>Opponents from the leftist Party of the Democratic Revolution (PRD) tried to prevent discussion by blockading the entrances to the lower house's main voting hall."</span></span></span></span></span></span></li>
</ul>

10 Things You Need To Know Before The Opening Bell

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div><span style="color: #222222; font-size: 15px; line-height: 22.5px;"></span></p><p>The Federal Reserve has closed a <a href="http://www.businessinsider.com/fed-funds-rate-chart-2015-12">7-year long, uncertain chapter</a> in US economic history.</p><p>In a <a href="http://www.businessinsider.com/dissents-may-show-feds-future-path-2015-12">unanimous decision</a> on Wednesday, the Fed's Federal Open Market Committee (FOMC) <a href="http://www.businessinsider.com/federal-reserve-announcement-december-16-2015-12">lifted its target fed funds rate</a> to a corridor of 0.25%-0.50% from 0$-0.25%.</p><p>"The Committee judges that there has been considerable improvement in labor market conditions this year, and it is reasonably confident that inflation will rise, over the medium term, to its 2% objective," the Fed said in its FOMC statement. "The stance of monetary policy remains accommodative after this increase, thereby supporting further improvement in labor market conditions and a return to 2% inflation."</p><p>In other words, the economy has improved enough to warrant a rate hike. But for the doubters, keep in mind that rates are still extremely low.</p><p>And as for the future of rates?</p><p>"The Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run," the Fed added. "However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data."</p><p><span style="font-size: 15px; line-height: 1.5em;">So as we now try to figure out what gradual means, here's your Monday Scouting Report:</span></p><p><strong>Top Stories</strong></p><ul><li><strong>Defining 'gradual'</strong>. On Friday, Richmond Fed President Jeffrey Lacker sees the Fed hiking rates four times in 2016. "That's half the rate at which we raised rates in the last tightening cycle," he said. "So that's what 'gradual' means to me." According to the Fed's "<a href="http://www.businessinsider.com/fed-dot-plot-december-2015-2015-12">dot plot,</a>" the median member of the FOMC see the fed funds rate ending 2016 somewhere between 1.25% and 1.5%.<br><br>"Having used the word gradual, along with showing four hikes in 2016, the Fed risks having market participants assign a definition to gradual as being every other meeting," Morgan Stanley's Ellen Zentner said. "We suspect inserting the word gradual was the only way to get a <a href="http://www.businessinsider.com/dissents-may-show-feds-future-path-2015-12">unanimous decision</a> to hike rates."<br><br>But ultimately, it's hard to say what "gradual" really means. Here's Bank of America Merrill Lynch's Ethan Harris and Michael Hanson: "Perhaps more interesting is what the Fed didn't do or say. While the FOMC repeated that they would go 'gradually' they did not offer more specific calendar guidance. They emphasized that the timing of future moves will depend on the data not the calendar. In the past year the Fed has only adopted calendar guidance as a last resort. And while Yellen repeated that the Fed would move gradually, she purposely stayed away from any discussion of specific meetings and noted the Fed remains data dependent."</br></br></br></br></li></ul><p><div class="KonaFilter image-container display-table"><div><div class="image"></div><p></p></div></div></p><p><strong>Economic Calendar</strong></p><ul><li><span style="text-decoration: underline;">Q3 GDP (Tues)</span>: Economists estimate Q3 GDP growth will be revised to 1.9% from <a href="http://www.businessinsider.com/us-gdp-q3-2015-11">last month's estimate of 2.1%</a>. Personal consumption growth is expected to be revised down to 2.9% from 3.0%. Here's Credit Suisse: "Since Q3 GDP's first revision, we have seen further downward revisions to manufacturing and wholesale inventories. The latest data on Q3 durable goods shipments also are looking weaker. And newly-released "hard data" on service spending suggest a downward revision to personal consumption on health care last quarter."</li><li><span style="text-decoration: underline;">Existing Home Sales (Tues)</span>: Economists estimate the pace of sales declined 0.4% to an annualized rate of 5.34 million units. Here's Wells Fargo's John Silvia: "Based on a three-month moving average, existing home sales are up almost four percent over the past year and are expected to continue to strengthen in 2016. The one sticking point, however, is the unusually low level of inventories, which is also keeping prices in a higher range than would otherwise be the case. Home prices have risen faster than incomes which means affordability is declining. Moreover, the recent increase in the Fed's short-term interest rate is causing some consternation about mortgage rates. Although mortgage rates are expected to increase somewhat, we are expecting a flatter yield curve, which means any increase should be relatively modest."</li><li><span style="text-decoration: underline;">Richmond Fed Manufacturing Index (Tues)</span>: Economists estimate this regional manufacturing index improved to -1 in December from -3 in November.</li><li><span style="text-decoration: underline;">Personal Income And Spending (Tues)</span>: Economists estimate income climbed 0.2% in November while spending increased by 0.3%. Here's Morgan Stanley's Ted Wieseman: "A slower gain in average hourly earnings and dip in hours worked pointed to only a slight uptick in wage and salary income in November after a strong October gain, which should lead to a muted gain in overall personal income. For spending, a pickup in core ex autos and gas retail sales (+0.6%) provides a boost, but unit auto sales were flat, Energy Department figures showed lower volumes on top of lower prices hitting gasoline spending, and another month of unusually warm weather likely depressed utilities demand again."</li><li><span style="text-decoration: underline;">Durable Goods Orders (Tues)</span>: Economists estimate orders fell 0.7% in November. Nondefense capital goods orders excluding aircraft, or core capex, is expected to have declined by 0.2%. Here's RBC Capital: "Boeing orders were quite strong in November and thus the nondefense aircraft space should support topline durable goods orders nicely. We look for a +1.5% read on the broad measure. The guts of the report will likely be mixed. The headwinds facing the manufacturing arena from a strong USD/weakening commodity complex/slower global growth remain in place and should weigh on capex orders in the near term. That being said, extremely easy base effects should make for a firmer capex profile in H1 2016."</li><li><span style="text-decoration: underline;">New Home Sales (Tues)</span>: Economists estimate the pace of sales climbed 2.0% to 505,000 units in November. Here's Credit Suisse: "New home sales may have posted some moderate improvement in November. The warm weather that month likely served as a marginal boost to selling activities, although the dip in the NAHB housing market index did not point to strong upside potential."</li><li><span style="text-decoration: underline;">U. Of Michigan Sentiment (Tues)</span>: Economists estimate this index of sentiment registered at 92.0 in December, up from the <a href="http://www.businessinsider.com/umich-consumer-confidence-december-11-2015-12">preliminary estimate of 91.8</a>. This would be up from <a href="http://www.businessinsider.com/university-of-michigan-consumer-confidence-index-2015-11">91.3 in November</a>. Here's HSBC: "Declining gasoline prices have helped boost sentiment, particularly for lower income households. On the other hand, some households expressed concerns about international economic conditions."</li><li><span style="text-decoration: underline;">Initial Jobless Claims (Thurs)</span>: Economists estimate initial claims declined to 270,000 from 271,000 a week ago. Here's Deutsche Bank's Joe LaVorgna: "Thursday's jobless claims figures should point to ongoing improvement in the labor market, which is a key reason why consumer attitudes should remain relatively upbeat."</li><li><a href="http://www.businessinsider.com/2015-stock-bond-market-holiday-calendar-trading-schedule-2015-11">US stock markets will close</a> at 1pm ET on Thursday, December 24 and they'll be closed all day on Friday December 25.</li></ul><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p><p><strong>Market Commentary</strong></p><p>Now that the Fed has begun hiking rates, the question is: Now what?</p><p>The answer isn't simple. Rate hikes happen because the Fed thinks the economy is in good shape, so that should be a bullish indicator. But rate hikes also mean higher borrowing costs, which is bearish.</p><p>Historically, <a href="http://www.businessinsider.com/how-stocks-move-around-first-fed-rate-hikes-2015-2">stocks have a tendency to just go up</a>. But that's not to say there isn't a <a href="http://www.businessinsider.com/stocks-and-interest-rates-2015-12">spike in volatility</a> in the near term.</p><p>Citi's Tobias Levkovich share we he's observed in a note to clients on Wednesday.</p><p>"History suggests that the first Fed Funds rate hike does not unsettle markets, but the third or fourth does generate concern," Levkovich said. "Given Citi's economists' view of the Fed taking the funds rate to 1.0% by the end of 2016, it is fair to suggest that the equity rally could be restrained by the latter half of next year."</p><p>This seems to imply that getting to between 1.25% and 1.5% by the end of the year as implied by the Fed's dot plot would mean a lot of volatility in 2016.</p><p>Levkovich adds that 2016 isn't just about rate hikes.</p><p>"Furthermore, the policy uncertainties tied to the upcoming elections could be another factor holding back investor positioning as to which sectors are poised to outperform or underperform," he said. "Valuation concerns abound, but a normalized earnings yield gap metric using higher bond yields suggests market gains in the next year."</p><p><a href="http://www.businessinsider.com/citi-levkovich-rising-labor-costs-pressure-profit-margins-sp600-2016-2015-12">Levkovich is overall positive</a> on the stock market. He sees the <a href="http://www.businessinsider.com/citi-mid-2016-sp-500-target-2015-5">S&amp;P 500 heading to 2,300 by mid-2016</a>. On September 4, he introduced a 2016 year-end target of 2,200.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/humanoid-robot-iran-engineering-2015-12">Engineers in Iran have created a robot that imitates human behavior with scary accuracy</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="swOXVreTpmpcmC5vvlg1enl_n61wKup7" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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