Wall Street jumps; Nasdaq near 12-year high

NEW YORK (Reuters) - Stocks climbed on Friday, pushing the S&P 500 to a fresh five-year high and putting the Nasdaq within a hair of a 12-year intraday high, following a batch of encouraging domestic and international economic reports.


Data showing stronger international trade in China and Germany, and a report indicating the U.S. trade deficit had narrowed in December, pointed to improving global demand.


"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.


The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1 percent. Gains in LinkedIn Corp and AOL Inc following their quarterly results helped the sector.


The benchmark S&P 500 <.spx>, up more than 6 percent for the year, is on track for six straight weeks of gains for the first time since August 2012.


But an advance has been tougher in recent days as investors await strong trading incentives to drive the index further upward.


"I think we're in the middle of a trading range and I'd put plus or minus 5 percent around it. Fundamental factors are best described as neutral," Dickson said.


The Dow Jones industrial average <.dji> was up 40.94 points, or 0.29 percent, at 13,984.99. The Standard & Poor's 500 Index <.spx> was up 7.72 points, or 0.51 percent, at 1,517.11. The Nasdaq Composite Index <.ixic> was up 27.94 points, or 0.88 percent, at 3,193.08.


The Nasdaq was just 3 points shy of its highest level since November 2000.


Shares of LinkedIn jumped 21.1 percent to $150.31 after announcing quarterly profits and giving a bullish forecast for the year.


AOL Inc shares rose 7.5 percent to $33.77 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.


The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 4.2 percent at 12.94. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.


"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."


Data showed Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand, while German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.


Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.


(Additional reporting by Angela Moon; Editing by Bernadette Baum and Nick Zieminski)



Read More..

At War Blog: U.S. and Allies Conduct Drills in Persian Gulf, a Signal to Iran

Deterring Iran is a delicate balance of diplomacy, sanctions and military muscle-flexing, all intended to send a strong signal – without proving so provocative that the region is pushed toward war. One piece of the effort – halting the proliferation of illicit weapons – got a practice run in the Persian Gulf this week.

Although the exercise did not explicitly name an adversary, geography certainly pointed to Iran, as well as to militants of Al Qaeda still operating in the region. The exercise, which ended Thursday, included a headquarters simulation to test the policy-making and coordination among the American military and two dozen nations that joined, as well as an extensive component of military drills at sea, in the air and on land.

Pentagon officials do not hide the fact that halting suspected smugglers, and boarding their vessels and inspecting them, is in some ways easier than knitting together a coalition of countries to operate under the decade-old Proliferation Security Initiative.

While there may be quiet agreement that Iran is a threat to regional stability, many nations – especially Iran’s neighbors – want to avoid any appearance of belligerence that might make relations even worse. In fact, several of the countries in this week’s exercise declined to officially confirm their participation.

That alliance cohesion problem is not new. When the Proliferation Security Initiative was begun by the administration of President George W. Bush, South Korea initially refused to join, for fear of angering North Korea. The government in Seoul eventually reversed the decision, and South Korea is among the nonproliferation program’s current members, a number that has expanded to 102 nations from the original 11.

Separate from this current multinational exercise, American and Yemeni officials disclosed last week that a joint operation had interdicted a boat carrying a large load of explosives and weapons, including shoulder-launched antiaircraft weapons. Intelligence indicated that the shipment came from Iran and was destined for Houthi insurgent militants inside Yemen.

Even before the proliferation exercise ended this week, the American military’s Central Command announced the scheduling of another exercise to practice mine countermeasures and maritime security in waters of the Middle East. Those skills would be necessary if Iran tried to close the Strait of Hormuz. More than 20 nations will participate in the exercise, set to begin in May.

But budget difficulties in Washington may make sustaining a large American military presence in the region more difficult. The Pentagon announced this week that, temporarily at least, there would be only one aircraft carrier strike group on patrol in the region, down from the usual two. The reason: the Defense Department needs to save money.

Related Coverage:

Read More..

Mindy McCready Committed to Treatment Facility















02/07/2013 at 03:15 PM EST







Mindy McCready and David Wilson


Courtesy Mindy McCready


Just three weeks after Mindy McCready lost her boyfriend, songwriter David Wilson, the embattled country singer has suffered another setback.

In an emergency hearing on Wednesday, a judge ordered McCready to be committed to a treatment facility to cope with mental health and alcohol issues. During the hearing, McCready, 37, admitted to drinking too much alcohol, blaming her overindulgence on her grief at Wilson's death.

McCready's two children – Zander, 6, and Zayne, 9 months – have been removed from her home and are currently in foster care.

Zayne's father was David Wilson. Zander's father is singer Billy McKnight.

It's not the first time that trouble has found McCready, who has a long history of drug abuse, arrests, rehab and suicide attempts.

In an exclusive interview with PEOPLE, Billy McKnight calls the latest development "devastating" and is trying to gain sole custody of his son. McKnight acknowledges that he has faced his own personal demons. He battled substance abuse, and was arrested and charged with attempted murder in 2005 after a physical altercation with McCready.

Despite his difficult past, McKnight, 46, says it's all behind him. "I've been sober for years," he says. "All those problems ended when Mindy and I split up. I have been doing everything right. I'm gainfully employed, doing well in my career. I am clean. I live in a gated community. I can provide for Zander and give him stability."

McKnight has a lawyer and will be heading to Arkansas. "I'm going to fight for my son," he says. "I can't even talk to him and ask him how he's doing, because the Arkansas courts took Mindy's word that I was dangerous. It's time for me to fight for Zander's best interest. I want my son back."

McCready could be in treatment for up to 21 days. Meanwhile, authorities in Cleburne County, Ark., are investigating the circumstances surrounding David Wilson's death.

Although initial media reports claimed that Wilson died of a self-inflicted gunshot wound, police have not yet ruled the case a suicide. (A source in the Sheriff's office tells PEOPLE that investigators are awaiting autopsy, ballistic and toxicology reports to determine how, exactly, Wilson died.)

McCready has neither been named nor cleared as a suspect in Wilson's death.

McCready's rep did not immediately return calls and emails for comment.

Read More..

Southern diet, fried foods, may raise stroke risk


Deep-fried foods may be causing trouble in the Deep South. People whose diets are heavy on them and sugary drinks like sweet tea and soda were more likely to suffer a stroke, a new study finds.


It's the first big look at diet and strokes, and researchers say it might help explain why blacks in the Southeast — the nation's "stroke belt" — suffer more of them.


Blacks were five times more likely than whites to have the Southern dietary pattern linked with the highest stroke risk. And blacks and whites who live in the South were more likely to eat this way than people in other parts of the country were. Diet might explain as much as two-thirds of the excess stroke risk seen in blacks versus whites, researchers concluded.


"We're talking about fried foods, french fries, hamburgers, processed meats, hot dogs," bacon, ham, liver, gizzards and sugary drinks, said the study's leader, Suzanne Judd of the University of Alabama in Birmingham.


People who ate about six meals a week featuring these sorts of foods had a 41 percent higher stroke risk than people who ate that way about once a month, researchers found.


In contrast, people whose diets were high in fruits, vegetables, whole grains and fish had a 29 percent lower stroke risk.


"It's a very big difference," Judd said. "The message for people in the middle is there's a graded risk" — the likelihood of suffering a stroke rises in proportion to each Southern meal in a week.


Results were reported Thursday at an American Stroke Association conference in Honolulu.


The federally funded study was launched in 2002 to explore regional variations in stroke risks and reasons for them. More than 20,000 people 45 or older — half of them black — from all 48 mainland states filled out food surveys and were sorted into one of five diet styles:


Southern: Fried foods, processed meats (lunchmeat, jerky), red meat, eggs, sweet drinks and whole milk.


—Convenience: Mexican and Chinese food, pizza, pasta.


—Plant-based: Fruits, vegetables, juice, cereal, fish, poultry, yogurt, nuts and whole-grain bread.


—Sweets: Added fats, breads, chocolate, desserts, sweet breakfast foods.


—Alcohol: Beer, wine, liquor, green leafy vegetables, salad dressings, nuts and seeds, coffee.


"They're not mutually exclusive" — for example, hamburgers fall into both convenience and Southern diets, Judd said. Each person got a score for each diet, depending on how many meals leaned that way.


Over more than five years of follow-up, nearly 500 strokes occurred. Researchers saw clear patterns with the Southern and plant-based diets; the other three didn't seem to affect stroke risk.


There were 138 strokes among the 4,977 who ate the most Southern food, compared to 109 strokes among the 5,156 people eating the least of it.


There were 122 strokes among the 5,076 who ate the most plant-based meals, compared to 135 strokes among the 5,056 people who seldom ate that way.


The trends held up after researchers took into account other factors such as age, income, smoking, education, exercise and total calories consumed.


Fried foods tend to be eaten with lots of salt, which raises blood pressure — a known stroke risk factor, Judd said. And sweet drinks can contribute to diabetes, the disease that celebrity chef Paula Deen — the queen of Southern cuisine — revealed she had a year ago.


The National Institute of Neurological Disorders and Stroke, drugmaker Amgen Inc. and General Mills Inc. funded the study.


"This study does strongly suggest that food does have an influence and people should be trying to avoid these kinds of fatty foods and high sugar content," said an independent expert, Dr. Brian Silver, a Brown University neurologist and stroke center director at Rhode Island Hospital.


"I don't mean to sound like an ogre. I know when I'm in New Orleans I certainly enjoy the food there. But you don't have to make a regular habit of eating all this stuff."


___


Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP


Read More..

Wall Street dips on renewed euro zone fears

NEW YORK (Reuters) - Stocks fell on Thursday as comments by the ECB president on the euro raised worries about Europe's outlook and curbed investors' appetite for risky assets.


The euro currency dropped against the safe-haven dollar and yen after European Central Bank President Mario Draghi said the exchange rate was important to growth and price stability, which investors took as a sign the bank is concerned about the euro's advance in recent days.


Materials shares were among the weakest performers on the S&P 500, with the S&P 500 materials index <.splrcma> down 0.7 percent, while housing stocks also declined. A housing sector index <.hgx> was off 1.4 percent.


Despite the day's decline and weakness earlier this week, the stock market has been in an almost uninterrupted uptrend for most of the year, with the S&P 500 gaining more than 5 percent for 2013.


Many investors could see buying opportunities in the decline.


"I don't think there's the systemic risk that we had some time ago of bank failures in Europe and so forth. They seem to be ahead of that sort of crisis," said Dan Veru, chief investment officer of Palisade Capital Management, in Fort Lee, New Jersey.


The Dow Jones industrial average <.dji> was down 67.95 points, or 0.49 percent, at 13,918.57. The Standard & Poor's 500 Index <.spx> was down 6.31 points, or 0.42 percent, at 1,505.81. The Nasdaq Composite Index <.ixic> was down 16.76 points, or 0.53 percent, at 3,151.72.


Top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.


Macy's Inc rose 1.5 percent to $40.09 after reporting January same store sales rose 11.7 percent.


But Ann Inc dropped 6.7 percent to $30.59 after forecasting fourth-quarter sales below analysts' expectations.


Fund manager David Einhorn's Greenlight Capital on Thursday said it has sued Apple Inc and said the company needs to do more to unlock value for shareholders. Apple shares gained 0.6 percent to $457.43.


Akamai Technologies Inc lost 15.6 percent to $35.06 as the worst performer on the S&P 500 after the Internet content delivery company forecast current-quarter revenue below analysts' expectations.


(Additional reporting by Angela Moon; Editing by Kenneth Barry and Nick Zieminski)



Read More..

The Lede: Video of Protests Across Tunisia After an Opposition Leader Is Gunned Down

Video of a protest outside the interior ministry in Tunis on Wednesday from the blog Nawaat.

As my colleagues Monica Marks and Kareem Fahim report, there were protests across Tunisia on Wednesday following the assassination of Chokri Belaid, a leader of the secular opposition.

Video shot by activist bloggers for the independent Tunisian site Nawaat showed protesters rallying outside the interior ministry on the tree-lined Avenue Habib Bourguiba in Tunis early in the day, and then being chased from the street by police officers who fired tear gas into the crowd and beat demonstrators.

Video from the Tunisian blog Nawaat of police officers attacking protesters in Tunis on Wednesday.

After the avenue was cleared, witnesses reported that a small crowd accompanied the ambulance carrying Mr. Belaid’s body down the same street.

As news of the assassination spread, there were protests in other cities and reports of attacks on the offices of Ennahda, the ruling Islamist party. Mr. Belaid had criticized Ennahda’s leaders for failing to condemn violent attacks on his party’s activists by young Islamists, in a television appearance shortly before his death, the French radio station Europe 1 reported.

Agence France-Presse video showed protesters marching in Sidi Bouzid, the town where the Tunisian revolt began.

More video of the demonstration in Tunis, and a clip of protesters occupying the headquarters of Ennahda in the city of Sfax, was posted online by Jadal, a Tunisian news site set up by the Institute for Peace and War Reporting.

Video from the Tunisian news site Jadal, said to show protesters occupying the offices of the ruling party in Sfax on Wednesday.

A demonstration outside the office of Ennahda in the coastal city of Mahdia was caught on video by a Nawaat blogger.

Before the demonstration at the interior ministry was attacked by the police, activists in the crowd posted updates on the protest on Twitter.

Among the chants, witnesses reported, were calls for the resignation of the interior minister, Ali Larayedh, a leader of Ennahda who is a former dissident.

Mr. Larayedh called the assassination of Mr. Belaid a “terrorist act” and “a blow to the democratic transition experience in Tunisia,” the state news agency reported.

One member of the crowd was Amira Yahyaoui, the president of the rights organization Al Bawsala, who suggested that Tunisians had waited long enough for an overhaul of the country’s notoriously brutal police force. After Mr. Balaid’s death, she wrote, it was “necessary to go inside the interior ministry and clear out the incompetents and, worse, the facilitators” who had allowed such acts of political violence to take place.

Read More..

Cat with Eyebrows Has More Than 20,000 Instagram Followers















02/06/2013 at 03:20 PM EST



What do Charlie Chaplin, Brooke Shields and Leonard Nimoy all have in common? Those unmistakable brows.

Now, a cat named Sam is joining the ranks.

The feline – who has over 20,000 Instagram followers – is wowing the world with his peculiar set of bushy black brows. In the more than 50 photos posted on the sharing site, Sam's raised eyebrows are the main attraction, making him seem surprised in some shots and worried in others.

According to a biography on samhaseyebrows.com, the 2-year-old kitty was abandoned in a cat carrier in front of his owner's house in March 2012.

"This website was created not only to share Sam with the world, but to help out other animals who did not have the fortune, like Sam did, of being adopted," writes the cat's anonymous owner, who says a portion of the proceeds from the sale of posters and T-shirts will go to the Brooklyn-based animal rescue group Empty Cages Collective.

And for the skeptics out there, Sam's owner has posted more magnified photos of those unbelievable arches above his eyes.

"Sam is saddened (and permanently worried/confused) to hear that some people think his eyebrows aren't real," his owner wrote last month. "Dun dun dun!!! Here are some close ups of Sam's brows!"

Read More..

Critics seek to delay NYC sugary drinks size limit


NEW YORK (AP) — Opponents are pressing to delay enforcement of the city's novel plan to crack down on supersized, sugary drinks, saying businesses shouldn't have to spend millions of dollars to comply until a court rules on whether the measure is legal.


With the rule set to take effect March 12, beverage industry, restaurant and other business groups have asked a judge to put it on hold at least until there's a ruling on their lawsuit seeking to block it altogether. The measure would bar many eateries from selling high-sugar drinks in cups or containers bigger than 16 ounces.


"It would be a tremendous waste of expense, time, and effort for our members to incur all of the harm and costs associated with the ban if this court decides that the ban is illegal," Chong Sik Le, president of the New York Korean-American Grocers Association, said in court papers filed Friday.


City lawyers are fighting the lawsuit and oppose postponing the restriction, which the city Board of Health approved in September. They said Tuesday they expect to prevail.


"The obesity epidemic kills nearly 6,000 New Yorkers each year. We see no reason to delay the Board of Health's reasonable and legal actions to combat this major, growing problem," Mark Muschenheim, a city attorney, said in a statement.


Another city lawyer, Thomas Merrill, has said officials believe businesses have had enough time to get ready for the new rule. He has noted that the city doesn't plan to seek fines until June.


Mayor Michael Bloomberg and other city officials see the first-of-its-kind limit as a coup for public health. The city's obesity rate is rising, and studies have linked sugary drinks to weight gain, they note.


"This is the biggest step a city has taken to curb obesity," Bloomberg said when the measure passed.


Soda makers and other critics view the rule as an unwarranted intrusion into people's dietary choices and an unfair, uneven burden on business. The restriction won't apply at supermarkets and many convenience stores because the city doesn't regulate them.


While the dispute plays out in court, "the impacted businesses would like some more certainty on when and how they might need to adjust operations," American Beverage Industry spokesman Christopher Gindlesperger said Tuesday.


Those adjustments are expected to cost the association's members about $600,000 in labeling and other expenses for bottles, Vice President Mike Redman said in court papers. Reconfiguring "16-ounce" cups that are actually made slightly bigger, to leave room at the top, is expected to take cup manufacturers three months to a year and cost them anywhere from more than $100,000 to several millions of dollars, Foodservice Packaging Institute President Lynn Dyer said in court documents.


Movie theaters, meanwhile, are concerned because beverages account for more than 20 percent of their overall profits and about 98 percent of soda sales are in containers greater than 16 ounces, according to Robert Sunshine, executive director of the National Association of Theatre Owners of New York State.


___


Follow Jennifer Peltz at http://twitter.com/jennpeltz


Read More..

Wall Street pulls back after recent gains

NEW YORK (Reuters) - Stocks drifted lower on Wednesday as investors pulled back after the recent push to five-year highs on the S&P 500 and as worries about political problems in Europe weighed on sentiment.


Transportation stocks were among the worst performers, pressured by a 9.7 percent drop in CH Robinson Worldwide to $60.48 after the freight transport company posted a lower-than-expected adjusted quarterly profit.


The benchmark S&P 500 index has advanced 6 percent this year and reached to its highest since December 2007. The Dow industrials <.dji> have risen above 14,000 recently, making it a challenge for investors to push stocks higher in the absence of strong positive catalysts.


"The market is starting to feel a little tired, though we're holding together. I think a lot of people are wondering whether this (up trend) continues," said Frank Lesh, a futures analyst and broker at FuturePath Trading LLC in Chicago.


Also, investors have been speculating about leadership changes in Spain and Italy, as well as watching for comments from European leaders. European Central Bank policymakers are due to meet Thursday.


The Dow Jones industrial average <.dji> was down 27.37 points, or 0.20 percent, at 13,951.93. The Standard & Poor's 500 Index <.spx> was down 3.66 points, or 0.24 percent, at 1,507.63. The Nasdaq Composite Index <.ixic> was down 12.27 points, or 0.39 percent, at 3,159.31.


Both the S&P 500 and Nasdaq rose more than 1 percent on Tuesday.


The Dow Jones Transportation average <.djt> was down 0.4 percent after hitting another record high on Tuesday. The average is up 10.4 percent for the year so far and has made a series of new highs since mid-January.


Among shares trading higher, Time Warner Inc jumped 4.4 percent to $52.18 after reporting higher fourth-quarter profit that beat Wall Street estimates, as growth in its cable networks offset declines in film, TV entertainment and publishing units.


Walt Disney Co was up 0.7 percent at $54.66, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.


According to Thomson Reuters data, of 301 companies in the S&P 500 that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Bernadette Baum, Kenneth Barry and Nick Zieminski)



Read More..

The Lede Blog: North Korean Propaganda Video Uses 'Call of Duty' and 'We Are the World' to Imagine a Brighter World, Without Manhattan

Last Updated, 3:52 p.m. |UpdateWhen aliens strike, the climate goes berserk, the Russians invade, an asteroid threatens the Earth, New York City is often the first place to be destroyed. Hollywood has long used the city’s skyline to demonstrate what destruction looks like in action movies and video games. It seems as if North Korea, in seeking to show how an assault on America would play out, also has Manhattan squarely in its cross hairs.

A new propaganda video, posted Sunday on a Web site and a YouTube channel that serve as outlets for North Korean state media, shows a computer-animated representation of Lower Manhattan in flames as bombs rain down.

A video posted on a North Korean YouTube channel this week features images of Manhattan in flames.

As a blogger for Kotaku reports, the attack on Manhattan is lifted straight from the video game “Call of Duty: Modern Warfare 3,” and unfolds as a sweeping instrumental version of “We Are the World” plays in the background.

The copy of the video on YouTube was removed on Tuesday afternoon, after a copyright complaint from Activision, the video-game maker.

The cartoonish propaganda clip is one of a slew of recent videos that have been released by North Korea to promote the country’s missile program. Although the video might make some observers laugh, the tension over North Korea’s nuclear ambitions and missile program is deadly serious.

The United Nations Security Council voted on Jan. 22 to tighten sanctions against North Korea as punishment for a Dec. 12 rocket launch. In response, the North vowed to expand its nuclear program “both quantitatively and qualitatively” and conduct a third nuclear test at a “higher level.”

As our colleagues David Sanger and William Broad reported after December’s successful missile launch by North Korea, there is no evidence that the country currently has technology that can threaten the continental United States – much less New York.

Administration officials said that while the launching was successful — and advanced the North’s missile program — it was hardly a threat to the United States, despite a warning by Robert M. Gates in 2011, when he was secretary of defense, that the North would have a missile capable of reaching the United States by 2016.

The video begins with an image of a man in blue pajamas sleeping. He recounts a dream in words that appear on the screen. “I had a dream last night, a dream of soaring into space on board our Unha-9 rocket,” the man says.

Unha, Korean for galaxy, is the name of the North Korean rocket series. The latest one, launched in December, was the Unha-3. So the dreamer is imagining a future, more advanced version of the rocket. After first showing footage of a real rocket launch, the video shifts to animation.

“Our Kwangmyongsong-21 spacecraft got separated from the rocket and traveled through space,” he says.

Once again, the dream appears to show the advances North Korea hopes to make in the years to come. In December, the satellite launched by the North was rocket number 3. By the time the series reaches 21 in the man’s dream, the rocket looks like the American space shuttle. The animation at that point shows the spacecraft circling the globe in search of its target, the music from “We are the World” building as it moves closer to the United States.

“I see stars and the green Earth. I also see a unified Korea.” These words appear on screen as the video moves from animation back to real footage of people waving flags, in particular, a “Korea-is-one” flag. The video shows a unified, not divided, Korean Peninsula in blue, a symbol of Korean reunification.

Then the video shows an overhead image of New York draped in the American flag. “Meanwhile, I see black smoke rising somewhere in America,” the dreaming man says. “It appears that the headquarters of evil, which has had a habit of using force and unilateralism and committing wars of aggression, is going up in flames it itself has ignited.”

At this point in the video, the computer-animated scene copied from “Call of Duty” show Lower Manhattan in flames.

“Just imagine riding in a Korean spaceship. One day, my dream will come true,” the narrator says. “No matter how hard the imperialists try to isolate and stifle us, they will not stop our people’s path toward our final victory of achieving a unified, strong and prosperous Korea.”

Robert Mackey contributed reporting.

Read More..