Wall Street climbs on China data; S&P nears resistance

NEW YORK (Reuters) - Stocks climbed on Thursday on optimism about global growth spurred by stronger-than-expected exports in China, the world's second-biggest economy, and the S&P 500 hovered around a five-year high.

Financial and energy stocks were the day's top gainers in afternoon trading. The financial sector index <.gspf> rose 1 percent and the energy sector <.gspe> was up 0.7 percent.

Financials benefited from events this week that added clarity to mortgage rules and banks' potential exposure to the housing market.

The government's consumer finance watchdog announced mortgage rules on Thursday that will force banks to use new criteria to determine whether a borrower can repay a home loan.

Earlier this week, several big mortgage lenders reached a deal with regulators to end a review of foreclosures mandated by the government.

Bank of America gained 2.6 percent to $11.73, while Morgan Stanley was up 3.2 percent at $20.24, one day after sources said the bank plans to cut jobs.

"It's a resolution. It's not hanging over their heads," said Kurt Brunner, portfolio manager at Swarthmore Group in Philadelphia, Pennsylvania.

Data showed China's export growth rebounded sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown.

"In and of itself it is being interpreted positively that they've stopped the downturn (in growth)," said Brunner. "If they continue to produce good growth, that's going to be supportive of our global manufacturers."

The benchmark Standard & Poor's 500 index hovered near a five-year closing peak of 1,466.47. On Friday, the index had closed at its highest since December 2007.

"The market is technically right at the level of resistance, near 1,465-1,467," said Randy Frederick, managing director of active trading and derivatives at Charles Schwab.

"A solid breakthrough above the level would be the start of a next leg higher, but it looks like it is going to be difficult to break above that level for now," Frederick said, citing concerns about the corporate earnings season and impending negotiations over the U.S. debt ceiling.

The Dow Jones industrial average <.dji> gained 40.53 points, or 0.30 percent, to 13,431.04. The Standard & Poor's 500 Index <.spx> rose 5.41 points, or 0.37 percent, to 1,466.43. The Nasdaq Composite Index <.ixic> edged up 0.42 points, or 0.01 percent, at 3,106.23.

Thursday's session had earlier included a dip that traders said was triggered by a trade in the options market that prompted a large amount of S&P futures to hit the market at the same time. That sent the S&P 500 index down rapidly but those losses were recouped by late afternoon.

Shares of upscale jeweler Tiffany dropped 5.1 percent to $60.02 after it said sales were flat during the holidays.

Herbalife Ltd stepped up its defense against activist investor Bill Ackman, stressing it was a legitimate company with a mission to improve nutrition and help public health. The stock was down 3 percent at $38.75.

(Editing by Nick Zieminski)

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Global Update: China Moves to Prevent Spread of Yellow Fever From Africa

In a move that underlines how many Chinese citizens now work in Africa, China’s quarantine officials recently urged greater efforts to make sure that a yellow fever epidemic now raging in Sudan does not come back to China.

Local health authorities were asked to scan all travelers arriving from Sudan for fevers. Chinese citizens planning travel to Sudan were advised to get yellow fever shots. Customs officers were told that containers arriving from Sudan might have stray infected mosquitoes inside.

Sudan’s epidemic is considered the world’s worst in 20 years. Sweden, Britain and other donors have paid for vaccinations. The United States Navy’s laboratory in Egypt has helped with diagnoses.

Estimates of the number of Chinese working in Africa, many in the oil and mining industries or on major construction projects, range from 500,000 to 1 million. Experts on AIDS have previously warned that the workers could become a new means of bringing that disease to China, which has a low H.I.V.-infection rate.

ProMED-mail, a Web site that follows emerging diseases, has tracked reports about the Sudan outbreak, with its moderators adding valuable context. China’s mosquito-killing winters make a large yellow fever outbreak there unlikely, moderators said. But Sudan’s containment efforts are troubled. For example, vaccinated people cannot get cards proving they have had shots, but the cards are reported to be for sale at police checkpoints.

Australia’s now-endemic dengue fever, according to ProMED moderators, may have come from mosquitoes arriving in containers from East Timor.

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Nintendo president describes Wii U sales as ‘not bad’

Nintendo’s (NTDOY) new Wii U gaming console came out of the gate strong and saw first-week sales reach 400,000 units in the U.S., however sales have since stalled and the system has been labeled a flop by some. While consumer interest in the company’s new console has slowed right out of the gate, Nintendo’s president recently said that he isn’t worried even though sales aren’t where he hoped they would be.

[More from BGR: Smooth sailing is over for Apple]

“At the end of the Christmas season, it wasn’t as though stores in the U.S. had no Wii U left in stock, as it was when Wii was first sold in that popular boom,” Nintendo President Satoru Iwata said in an interview with Reuters. “But sales are not bad, and I feel it’s selling steadily.”

[More from BGR: New ‘higher-end’ iPhone reportedly launching by June, low-end model could be coming as well]

The executive declined to give specific details on sales or forecasts, although he did say that Nintendo plans to focus on developing attractive software for its 3DS handheld to appeal to new users, and will seek new ways to increase Wii U sales in a changing market.

Nintendo previously announced that it hopes to sell 5.5 million Wii U devices by the end of March and more than 24 million Wii U games in the same timeframe.

This article was originally published by BGR

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It's a Girl for Rosie O'Donnell

Mom & Babies
Celebrity Baby Blog

01/09/2013 at 03:30 PM ET

It’s baby number five for Rosie O’Donnell!

The comedian and wife Michelle Rounds welcomed daughter Dakota through adoption on Saturday, Jan. 5, her rep confirms to PEOPLE. Weighing in at 5 lbs., 5 oz., “moms and baby are healthy and happy.”

O’Donnell, 50, Tweeted the happy news Wednesday.

“We [are] thrilled to announce the arrival of [our] daughter Dakota – #withloveandthanks – AMEN,” she writes, sharing a snapshot of herself cuddling with Rounds and their new baby.

O’Donnell is already mom to children Vivienne, 10, Blake, 13, Chelsea, 15, and Parker, 17, with her ex, Kelli Carpenter.

After suffering a heart attack and dealing with Rounds’ desmoid tumors diagnosis last year, O’Donnell tells PEOPLE, “I will gladly stay home. I want to try to work hard at getting myself healthy, on Mich and I getting started and maybe finding a baby.”

Courtesy Rosie O’Donnell

– Sarah Michaud with reporting by Liz McNeil

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Retooling Pap test to spot more kinds of cancer

WASHINGTON (AP) — For years, doctors have lamented that there's no Pap test for deadly ovarian cancer. Wednesday, scientists reported a tantalizing hint that one day, there might be.

Researchers are trying to retool the Pap, a test for cervical cancer that millions of women get, so that it could spot early signs of other gynecologic cancers, too.

How? It turns out that cells can flake off of tumors in the ovaries or the lining of the uterus, and float down to rest in the cervix, where Pap tests are performed. These cells are too rare to recognize under the microscope. But researchers from Johns Hopkins University used some sophisticated DNA testing on the Pap samples to uncover the evidence — gene mutations that show cancer is present.

In a pilot study, they analyzed Pap smears from 46 women who already were diagnosed with either ovarian or endometrial cancer. The new technique found all the endometrial cancers and 41 percent of the ovarian tumors, the team reported Wednesday in the journal Science Translational Medicine.

This is very early-stage research, and women shouldn't expect any change in their routine Paps. It will take years of additional testing to prove if the so-called PapGene technique really could work as a screening tool, used to spot cancer in women who thought they were healthy.

"Now the hard work begins," said Hopkins oncologist Dr. Luis Diaz, whose team is collecting hundreds of additional Pap samples for more study and is exploring ways to enhance the detection of ovarian cancer.

But if it ultimately pans out, "the neat part about this is, the patient won't feel anything different," and the Pap wouldn't be performed differently, Diaz added. The extra work would come in a lab.

The gene-based technique marks a new approach toward cancer screening, and specialists are watching closely.

"This is very encouraging, and it shows great potential," said American Cancer Society genetics expert Michael Melner.

"We are a long way from being able to see any impact on our patients," cautioned Dr. Shannon Westin of the University of Texas MD Anderson Cancer Center. She reviewed the research in an accompanying editorial, and said the ovarian cancer detection would need improvement if the test is to work.

But she noted that ovarian cancer has poor survival rates because it's rarely caught early. "If this screening test could identify ovarian cancer at an early stage, there would be a profound impact on patient outcomes and mortality," Westin said.

More than 22,000 U.S. women are diagnosed with ovarian cancer each year, and more than 15,000 die. Symptoms such as pain and bloating seldom are obvious until the cancer is more advanced, and numerous attempts at screening tests have failed.

Endometrial cancer affects about 47,000 women a year, and kills about 8,000. There is no screening test for it either, but most women are diagnosed early because of postmenopausal bleeding.

The Hopkins research piggybacks on one of the most successful cancer screening tools, the Pap, and a newer technology used along with it. With a standard Pap, a little brush scrapes off cells from the cervix, which are stored in a vial to examine for signs of cervical cancer. Today, many women's Paps undergo an additional DNA-based test to see if they harbor the HPV virus, which can spur cervical cancer.

So the Hopkins team, funded largely by cancer advocacy groups, decided to look for DNA evidence of other gynecologic tumors. It developed a method to rapidly screen the Pap samples for those mutations using standard genetics equipment that Diaz said wouldn't add much to the cost of a Pap-plus-HPV test. He said the technique could detect both early-stage and more advanced tumors. Importantly, tests of Paps from 14 healthy women turned up no false alarms.

The endometrial cancers may have been easier to find because cells from those tumors don't have as far to travel as ovarian cancer cells, Diaz said. Researchers will study whether inserting the Pap brush deeper, testing during different times of the menstrual cycle, or other factors might improve detection of ovarian cancer.

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Wall Street up after Alcoa earnings news

NEW YORK (Reuters) - Stocks rose on Wednesday as Alcoa's better-than-expected revenue and a positive outlook boosted investor confidence ahead of an earnings season expected to show lackluster results.

The session's rise was the first of the week after the market retreated from the S&P 500's highest point in five years, hit last Friday. Worries about a weak earnings season kept the markets down earlier in the week.

Shares of Alcoa Inc were trading flat after early gains, following the company's earnings release after the bell on Tuesday. The largest U.S. aluminum producer said it expects global demand for aluminum to grow in 2013.

Traders have been cautious as the current quarter was shaping up like the previous one, with companies lowering expectations in recent weeks, said James Dailey, portfolio manager of TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.

"So the big question and focus is on revenue, and Alcoa had better-than-expected revenue," which calmed the market a little, Dailey said.

Overall, corporate profits were expected to beat the previous quarter's meager 0.1 percent rise. Both earnings and revenues in the fourth quarter were expected to grow by 1.9 percent, according to Thomson Reuters data.

The lowered expectations also leave room for companies to surprise investors even if their results are not particularly strong, analysts said.

The Dow Jones industrial average <.dji> gained 59.47 points, or 0.45 percent, at 13,388.32. The Standard & Poor's 500 Index <.spx> rose 3.86 points, or 0.26 percent, at 1,461.01. The Nasdaq Composite Index <.ixic> was up 14.93 points, or 0.48 percent, at 3,106.74.

Clearwire Corp shares jumped 7.7 percent to $3.15 after Dish Network bid $2.28 billion for the company, trumping a previous Sprint offer and setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.

Herbalife Ltd stock rose 4 percent to $39.89 following news that hedge fund manager Dan Loeb took a stake of more than 8 percent in the nutritional supplements seller, according to a regulatory filing. Prominent short-seller Bill Ackman had previously accused the company of being a "pyramid scheme," which Herbalife has vehemently denied.

Facebook Inc shares rose above $30 per share for the first time since July 2012, trading up 4.7 percent at $30.43. Facebook, which has been tight-lipped about its plans after its botched IPO in May, invited the media to its headquarters next week.

Apollo Group Inc slid after heavier losses early on, a day after it reported lower student sign-ups for the third straight quarter and cut its operating profit outlook for 2013. Apollo's shares were last off 6.6 percent at $19.55.

(Reporting by Gabriel Debenedetti; additional reporting by Angela Moon; Editing by Nick Zieminski)

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China Says It Will Overhaul Re-education System

BEIJING — China will start overhauling its draconian system of re-education through labor in the coming year, according to the state news media, signaling the incoming leadership’s determination to alter one of the government’s more widely despised cudgels for punishing petty criminals, religious dissidents, petitioners and other perceived social irritants.

The brief announcement on Monday, by the official Xinhua news agency, lacked details, but legal advocates said they were hopeful that the five-decade-old system for locking up offenders without trial would be significantly modified, if not abolished altogether.

“If true, this would be an important advance,” said Zhang Qianfan, a law professor at Peking University who has long pushed for the system’s demise. “It’s a tool that is widely abused.”

Established by Mao Zedong in the 1950s to swiftly neutralize political opponents, re-education through labor has evolved into a sprawling extralegal system of 350 camps where more than 100,000 people toil in prison factories and on farms for up to four years. Sentences are meted out by local public security officials, and defendants have no access to lawyers and little chance for appeal.

Since the 1980s, legal scholars and human rights advocates have been urging an end to the system and urging that the prosecution of minor offenses be shifted to criminal courts. The campaign has been re-energized in recent months by several cases, widely promoted in the news media, in which people were consigned to the camps for criticizing or simply annoying local party officials.

Among the more notable cases was that of Ren Jianyu, a college graduate turned village official in southwestern China who was sent to a work camp for “subversion” after investigators found in his closet a T-shirt that declared “Freedom or death.” In November, local officials, apparently cowed by a welter of condemnation in newspapers and on the Internet, cut short his two-year sentence.

A similar backlash also persuaded officials in Hunan Province last summer to free a woman, Tang Hui, who was given an 18-month sentence after she repeatedly protested that the seven men who had raped and forced her 11-year-old daughter into prostitution had been treated too leniently.

But any jubilation that the system might be on its way out was tempered by the manner in which the news emerged. Details of a conference held by top judicial and legal officials were reported online on Monday by a number of news media outlets — including word that the party would “stop using the system” within a year. Those accounts, however, were later deleted, leaving only the brief Xinhua account.

Chen Dongsheng, a bureau chief for the official Legal Daily who listened to a closed-circuit telecast of the meeting, told The Associated Press that Meng Jianzhu, chief of the Communist Party’s politics and law committee, had pledged to end the system, saying it had “played a useful role in the past, but conditions had now changed.”

But Mr. Chen’s microblog postings on the subject promptly disappeared, and he could not be reached for comment.

In its own report, Xinhua used the word “reform,” suggesting the changes to the system labor might be less than sweeping. Such changes could involve giving the system the legislative authority it currently lacks and subjecting decisions to some level of judicial review, although China’s party-controlled courts rarely rule in favor of defendants.

In a separate account of the same meeting, Xinhua included comments by Mr. Meng and Xi Jinping, the incoming president, but left out any mention of re-education through labor. Mr. Xi, who has promised to strengthen the nation’s legal system since his elevation to party secretary in November, reiterated his support for greater rule of law, saying the government should “improve empathy and public credibility of legal affairs work, striving to ensure that the public feels that justice is served in every law case.”

Rights advocates are pleased that the issue is on the leadership’s agenda but said that the devil would be in the details. Previous proposals for change, they noted, have included an 18-month cap on sentences, weekend furloughs for prisoners and access to lawyers for defendants. But such modifications alone, they said, would leave intact the bones of a system that violates international legal conventions as well as Chinese law.

“The risk is we’ll get re-education lite — a system that perpetuates the ability of police to deprive people of liberty for significant periods of time without trial or judicial oversight,” said Nicholas Bequelin, a senior researcher at Human Rights Watch. “My fear is that such a system would end up being harder to do away with.”

Patrick Zuo contributed research.

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Sony unveils Xperia Z Android phone with full HD display

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Harley Pasternak: How Better Sleep Keeps Your Weight Down

Only on People.com

By Harley Pasternak

01/08/2013 at 03:45 PM EST

Harley Pasternak

Courtesy Harley Pasternak

Sleep well, stay lean!

When I don't get a good night's sleep, I'm exhausted, grumpy and starving! Needless to say, I don't have the energy to do my daily workout, and I eat everything in sight. After a few sleepless nights, I swear I feel myself actually getting a little heavier ... and I probably am!

There are several reasons why not getting enough (quality) sleep can make you gain weight.

The first has to do with your hormones – specifically, ghrelin and leptin. Ghrelin is an appetite-stimulating hormone produced in your stomach that tells your body when it should eat. Leptin influences energy expenditure and basically tells you when to stop eating. When you don't get enough sleep, your leptin levels decrease, so you feel less satisfied and eat more to compensate. And your ghrelin levels rise, so your appetite increases. Studies have shown that you may eat up to 20 percent more food because of this.

The second factor has to do with how lack of sleep leads not only to poor food choices but to decreased energy expenditure during the day. When we're tired, we're more likely to choose convenience over health when it comes to meals and snacks. We tell ourselves it's easier and faster to stop at the drive-through on the way home rather than prepare a nutritious meal. Also, we're more drawn to sugary sweets for an energy boost, which are just empty calories. Plus, we don't have the energy to go through the normal motions of our day, much less exercise, so we're burning minimal calories.

Finally, the longer you're awake, the more time you have to eat. If you eat dinner at 7 and don't go to bed until 12:30, you're probably going for a late snack. If you go to bed before you get hungry again, you're saving hundreds of calories and getting the rest your brain and body needs.

So let's resolve this year to get more sleep. Here are some tips my clients have shared with me over the years that have helped them get more zzz's.

1. Get ready for bed as soon as you get home.

This stops the "I'm too tired for bed" cycle that many of us know all too well – eating dinner and then watching TV or reading until we're already half asleep. Right when you get home, change in to your comfy clothes, wash your face, take out your contacts, etc. This mentally and physically prepares us for bed.

2. Make your bedroom a tech-free zone.

TVs and iPads and phones give us unnecessary stimulation when we're supposed to be relaxing. Then all night they're chirping and chiming at us – jeopardizing the quality of our sleep, which can be just as harmful as diminished quantity.

3. Be active all day.

Studies show that people who are physically active get more quality sleep than those who aren't. Go for a walk in the morning before work, and after dinner.

4. Have a caffeine cut-off.

As a self-professed coffee addict, this one is the hardest for me. Over years of trial and error, I've found that if I cut off caffeine intake by 2 p.m., I have a more restful night's sleep.

5. Plan ahead for tomorrow.

This one is key for my wife. Every night she lays out what she's going to wear the next day, and packs her lunch and snacks and sticks them in the fridge. She goes to bed knowing she won't have to scramble in the morning, which helps her rest easier.

6. Try sensory deprivation.

Don't laugh, but my wife and I both sleep with earplugs in. We find that by shutting out any and all sounds, we fall asleep faster and stay asleep longer. Try it. You'll see what I mean.

What are your favorite sleep tips? Tweet me @harleypasternak – and let me know.

Check back every Wednesday for more insider tips from celebrity trainer Harley Pasternak on Hollywood's hottest bodies – and learn how to get one yourself! Plus: Follow Harley on Twitter at @harleypasternak

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Report: Death rates from cancer still inching down

WASHINGTON (AP) — Death rates from cancer are continuing to inch down, researchers reported Monday.

Now the question is how to hold onto those gains, and do even better, even as the population gets older and fatter, both risks for developing cancer.

"There has been clear progress," said Dr. Otis Brawley of the American Cancer Society, which compiled the annual cancer report with government and cancer advocacy groups.

But bad diets, lack of physical activity and obesity together wield "incredible forces against this decline in mortality," Brawley said. He warned that over the next decade, that trio could surpass tobacco as the leading cause of cancer in the U.S.

Overall, deaths from cancer began slowly dropping in the 1990s, and Monday's report shows the trend holding. Among men, cancer death rates dropped by 1.8 percent a year between 2000 and 2009, and by 1.4 percent a year among women. The drops are thanks mostly to gains against some of the leading types — lung, colorectal, breast and prostate cancers — because of treatment advances and better screening.

The news isn't all good. Deaths still are rising for certain cancer types including liver, pancreatic and, among men, melanoma, the most serious kind of skin cancer.

Preventing cancer is better than treating it, but when it comes to new cases of cancer, the picture is more complicated.

Cancer incidence is dropping slightly among men, by just over half a percent a year, said the report published by the Journal of the National Cancer Institute. Prostate, lung and colorectal cancers all saw declines.

But for women, earlier drops have leveled off, the report found. That may be due in part to breast cancer. There were decreases in new breast cancer cases about a decade ago, as many women quit using hormone therapy after menopause. Since then, overall breast cancer incidence has plateaued, and rates have increased among black women.

Another problem area: Oral and anal cancers caused by HPV, the sexually transmitted human papillomavirus, are on the rise among both genders. HPV is better known for causing cervical cancer, and a protective vaccine is available. Government figures show just 32 percent of teen girls have received all three doses, fewer than in Canada, Britain and Australia. The vaccine was recommended for U.S. boys about a year ago.

Among children, overall cancer death rates are dropping by 1.8 percent a year, but incidence is continuing to increase by just over half a percent a year. Brawley said it's not clear why.

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