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The second strongest solar flare of Cycle 24 in terms of X-Ray Flux, just peaked around Active Sunspot 1429. This major event measured X5.4 at 00:24 UTC. A coronal mass ejection will likely result and due to the sunspots more geoeffective position, there will be a chance for some sort of impact.
UPDATE
***The Solar X-Rays are currently showing another rise in X-Ray Flux output at 01:10 UTC. It is currently reading at X1.3.
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A bright Coronal Mass Ejection (CME) is now seen in the new STEREO Behind COR2 images.