What You Need To Know (12/15/16): The Fed Rate Increases, Uber’s Self-Driving Cars Run Red Lights

Here’s what you need to know this morning:

  • The Federal Reserve increased their rate by .25%, strengthening the value of the dollar while causing the markets to dip a bit. For more on the Fed’s decision, read our report here. If you don’t know what the Fed rate is, read this.
  • Oracle ($ORCL), the technology company that pretty much powers everything, and Adobe ($ADBE), the software company used by millions of professionals, both have earnings calls tonight. Both stocks are up in the past year, and have strong investor sentiment.
  • No, the Dow did not hit a record 20,000 points. In fact, in went down, as did all other indexes. Here’s to hoping it performs better today.

What we’re reading this morning:

Trump’s 17 cabinet-level picks have more money than a third of American households combined” by Dan Kopf, Quartz
Trump picked some pretty wealthy people to be in charge of his cabinet, and they have over $9.5 billion in combined wealth.

Elon Musk and Uber CEO Travis Kalanick will advise Trump on business issues” by Colin Lecher, The Verge
The tech industry will have some influence on Trump’s decisions after all.

Yahoo Says 1 Billion User Accounts Were Hacked” by Vindu Goel and Nicole Perlroth, The New York Times
Yahoo reveals they were hacked (again). We’ll have a detailed analysis of Yahoo’s hack later today.

What we’re watching this morning:

Speaking of Uber, the ride-sharing company doesn’t have permission from San Francisco to test their self-driving cars. While the idea of self-driving cars sounds cool, someone caught this self-driving Uber running a red light.