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Start of "Santa Claus rally" dampened by "cliff' worries

Label: Business

NEW YORK (Reuters) - U.S. stocks edged lower on Monday as caution over the potential for volatility driven by worries about the U.S. "fiscal cliff" dampened enthusiasm at the start of a seasonally strong period for equities.

Investors are betting Congress will reach a deal to avert most of the austerity measures due to come into force at the start of next year. That has led to the best year for stocks since the post-financial crisis rebound. But those gains may be quickly reversed if a deal is not reached soon.

The S&P 500 index posted its biggest drop in more than a month on Friday as a Republican plan to avoid the cliff - $600 billion in tax hikes and spending cuts that could tip the U.S. economy into recession - failed to gain traction on Thursday night.

Sharp moves like that highlight how headlines from Washington can whipsaw markets, especially during the thinly traded period over the Christmas holiday.

Still, with the S&P 500 up 0.7 percent in December and on course for its strongest month since September, some analysts are predicting that stocks will find their footing during a market seasonality known as the "Santa Claus rally."

"Right now we've seen some very constructive action in the market so I think that bodes well for this being a positive seasonal 'Santa' period over the coming seven days," said Ari Wald, a technical analyst at The PrinceRidge Group.

He noted an all-time high in the NYSE advance-decline line, which compares advancing and declining stocks, as indication of strong participation in the rally off November lows.

"Pull-backs are buying opportunities," said Wald. "There has been really great participation on this move, a lot of small- and mid-cap stocks behaving well, pushing out to the upside; we're seeing some good leadership from offensive sectors of the market as well."

A high ratio of advancing stocks to declining issues shows there is broad participation across the equity market.

The Santa seasonality covers the last five trading days of the year and the first two of the new year. Since 1928, the S&P 500 has averaged a gain of 1.8 percent during this period and risen 79 percent of the time, according to data from PrinceRidge.

The Dow Jones industrial average <.dji> dropped 51.76 points, or 0.39 percent, to 13,139.08. The Standard & Poor's 500 Index <.spx> fell 3.49 points, or 0.24 percent, to 1,426.66. The Nasdaq Composite Index <.ixic> lost 8.41 points, or 0.28 percent, to 3,012.60.

The S&P 500 is up more than 13 percent for the year, having recovered nearly all the losses suffered in the wake of the U.S. election. The yearly gain would be the best since 2009.

Some U.S. lawmakers expressed concern on Sunday the country would go over the cliff, as some Republicans charged that was President Barack Obama's goal. Talks are stalled with Obama and House of Representatives Speaker John Boehner out of Washington for the holidays.

"It does seem like we are continuing through the same drift of the same thing we've had the past couple of weeks - 'cliff' talk," said Nick Scheumann, wealth partner at Hefty Wealth Partners in Auburn, Indiana.

"You can't trade on what you don't know and we truly don't know what they are going to do," he said.

Congress is expected to return to Washington next Thursday as President Barack Obama returns from a trip to Hawaii. As the deadline draws closer, a 'stop-gap' deal appears to be the most likely outcome of any talks.

Trading volume was muted, with U.S. equity markets closing at 1 p.m. (1800 GMT) ahead of the Christmas Day holiday on Tuesday.

In addition, a number of European markets operated on a shortened session, with other markets closed.

U.S. retailers may not see a sales surge from this weekend as ho-hum discounts and fears about imminent tax hikes and cuts in government spending give Americans fewer reasons to open their wallets in the last few days before Christmas.

Aegerion Pharmaceuticals Inc said the U.S. Food and Drug Administration approved Juxtapid capsules in patients with homozygous familial hypercholesterolemia, but will conduct a post-approval study to test long-term safety and efficacy. Shares fell 1.8 percent to $25.25.

Herbalife Ltd dipped 4.4 percent to $26.06 after the company said it expects to exceed its previously announced repurchase authorization guidance and has retained Moelis & Company as its strategic adviser. The declines put the stock on track for a ninth straight decline.

Yum Brands Inc advanced 1.8 percent to $65.01 after Shanghai's food safety authority said the level of antibiotics and steroids in the company's KFC chicken was within official limits.

(Reporting By Edward Krudy; Editing by Chizu Nomiyama and Dan Grebler)

Afghan policewoman kills coalition contractor in Kabul: NATO

Label: World

KABUL (Reuters) - An Afghan woman wearing a police uniform shot dead on Monday a civilian contractor working for Western forces in the police chief's compound in Kabul, NATO said.

The incident is likely to raise troubling questions about the direction of an unpopular war.

It appeared to be the first time that a woman member of Afghanistan's security forces carried out such an attack.

There were conflicting reports about the victim.

A spokesman for the NATO-led International Security Assistance Force (ISAF) said a U.S. police adviser was killed by an Afghan policewoman. Then ISAF said in a statement only that it was a "contracted civilian employee" who was killed.

Mohammad Zahir, head of the police criminal investigation department, described the incident as an "insider attack" in which Afghan forces turn their weapons on Western troops they are supposed to be working with. He initially said the victim was a U.S. soldier.

After more than 10 years of war, militants are capable of striking Western targets in the heart of the capital, and foreign forces worry that Afghan police and military forces they are supposed to work with can suddenly turn on them.

The policewoman approached her victim as he was walking in the heavily guarded police chief's compound in a bustling area of Kabul. She then drew a pistol and shot him once, a senior police official told Reuters.

The police complex is close to the Interior Ministry where in February, two American officers were shot dead at close range at a time anger gripped the country over the burning of copies of the Muslim holy book at a NATO base.

"She is now under interrogation. She is crying and saying 'what have I done'," said the official, of the police officer who worked in a section of the Interior Ministry responsible for gender awareness issues.

TIPS FOR TROOPS

The insider incidents, also known as green-on-blue attacks, have undermined trust between coalition and Afghan forces who are under mounting pressure to contain the Taliban insurgency before most NATO combat troops withdraw by the end of 2014.

Security responsibilities in a country plagued by conflict for decades will be handed to Afghan security forces.

Many Afghans fear a civil war like one dominated by warlords after the withdrawal of Soviet occupying forces in 1989 could erupt again, or the Taliban will make another push to seize power if they reject a nascent peace process.

At least 52 members of the NATO-led International Security Assistance Force have been killed this year by Afghans wearing police or army uniforms.

Insider attacks now account for one in every five combat deaths suffered by NATO-led forces in Afghanistan, and 16 percent of all U.S. combat casualties, according to 2012 data.

Hoping to stop the increase in the attacks, Afghan Defense Ministry officials have given their troops tips in foreign culture.

They are told not to be offended by a hearty pat on the back or an American soldier asking after your wife's health.

NATO attributes only about a quarter of the attacks to the Taliban, saying the rest are caused by personal grievances and misunderstandings. Last year, there were 35 deaths in such attacks.

Afghan forces are vulnerable to "insider attacks" of their own. In Jawzjan province in the north, a police commander shot and killed five comrades overnight, the Interior Ministry said.

Last year, he defected from the Taliban, said the ministry.

Taliban spokesman Zabihullah Mujahid said in a statement that the commander had rejoined the Taliban. That could not be confirmed.

(Writing by Michael Georgy; Editing by Robert Birsel)

British retailers start online sales early

Label: Technology

LONDON (Reuters) – British retailers have brought forward their Christmas clearance sales online in the hope that shoppers will log on to buy bargains and offset lackluster spending in stores.

Marks & Spencer launched its sale online at midday on Monday, it said on its website, while department store John Lewis said it would cut online prices when its stores close at 1700 GMT. Debenhams has already started its online sale.

Retailers in recent years have started sales online on Christmas Day, ahead of the clearances in stores from Boxing Day, but are increasingly launching their online offers before Christmas after delivery deadlines for the day have passed.

Hard-pressed shoppers have been leaving it later to buy presents in the hope that retailers would slash prices, the British Retail Consortium said.

It was forecasting that 5 billion pounds ($ 8.1 billion) would be spent in the shops on Saturday and Sunday combined, the last weekend before Christmas.

Richard Dodd, the BRC’s head of Media and Campaigns, said weekend trading had met expectations.

“Christmas, ultimately once all the final sums are done, will turn out to be acceptable but not exceptional,” he said.

He said the sector expected a modest increase in cash spending against a year go, but not necessarily any significant increase in real terms once inflation was stripped out.

Many British families‘ budgets are stretched, according to a survey from Markit that showed the biggest deterioration in household finances for seven months.

Analyst Howard Archer at IHS Global Insight said the weakening in household finances could not come at a worse time for retailers, and it highlighted why many people appeared to have been careful in their Christmas shopping this year.

“The suspicion has to be that consumers will be especially keen to take advantage of genuine major bargains in the sales to acquire items that they cannot otherwise afford or are reluctant to make at the moment,” he said.

“However, we suspect that people will likely to be more careful in buying – or reluctant to buy – items that they don’t really want or need in the sales.”

($ 1 = 0.6180 British pounds)

(Reporting by Paul Sandle; Editing by Louise Heavens)

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Mariah Carey All I Want For Christmas Is You Covers

Label: Lifestyle

While never an underperformer, it's safe to say that Mariah Carey's All I Want For Christmas Is You became infinitely more popular following it's rousing inclusion in 2003's Love Actually.

PHOTOS - Sexy Celebrity Santas

Since Olivia Olson smashed the song in Richard Curtis' new holiday classic, it's been covered everywhere from Glee to the Today show -- even Mariah herself has re-released a version she recorded with Justin Bieber.

PHOTOS - Stars Sit on Santa's Lap

But which cover is king? Take a listen to all the options below and then weigh in on which version of All I Want For Christmas Is You is the biggest gift of all!

Mariah Carey's 1994 Original

Shania Twain's 1998 Cover

Olivia Olson's Cover From Love Actually

Miley Cyrus' 2007 Cover

John Mayer's 2008 Cover

Amber Riley's 2011 Glee Cover

Mariah Carey & Justin Bieber's 2011 Deut

Mariah Carey's 2012 Late Night Acoustic Cover

Carly Rose Sonenclar's 2012 X Factor Cover

Demi Lovato's 2012 Christmas in Washington Cover

WHICH IS YOUR FAVORITE? VOTE BELOW!

Predicting who's at risk for violence isn't easy

Label: Health

CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.

Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.

But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.

"They're yellow flags. They only become red flags once the blood is spilled," he said.

Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.

Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)

Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.

Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.

"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."

The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."

In a guidelines for families, the academy lists several risk factors for violence, including:

—Previous violent or aggressive behavior

—Being a victim of physical or sexual abuse

—Guns in the home

—Use of drugs or alcohol

—Brain damage from a head injury

Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.

Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.

Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.

According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.

Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.

Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.

And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.

All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.

Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.

Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.

Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.

___

Online:

American Academy of Child & Adolescent Psychiatry: http://www.aacap.org

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

Wall Street Week Ahead: A lump of coal for "Fiscal Cliff-mas"

Label: Business

NEW YORK (Reuters) - Wall Street traders are going to have to pack their tablets and work computers in their holiday luggage after all.

A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff" will push the economy into recession.

Thursday's debacle in the U.S. House of Representatives, where Speaker John Boehner failed to secure passage of his own bill that was meant to pressure President Obama and Senate Democrats, only added to worry that the protracted budget talks will stretch into 2013.

Still, the market remains resilient. Friday's decline on Wall Street, triggered by Boehner's fiasco, was not enough to prevent the S&P 500 from posting its best week in four.

"The markets have been sort of taking this in stride," said Sandy Lincoln, chief market strategist at BMO Asset Management U.S. in Chicago, which has about $38 billion in assets under management.

"The markets still basically believe that something will be done," he said.

If something happens next week, it will come in a short time frame. Markets will be open for a half-day on Christmas Eve, when Congress will not be in session, and will close on Tuesday for Christmas. Wall Street will resume regular stock trading on Wednesday, but volume is expected to be light throughout the rest of the week with scores of market participants away on a holiday break.

For the week, the three major U.S. stock indexes posted gains, with the Dow Jones industrial average <.dji> up 0.4 percent, the S&P 500 <.spx> up 1.2 percent and the Nasdaq Composite Index <.ixic> up 1.7 percent.

Stocks also have booked solid gains for the year so far, with just five trading sessions left in 2012: The Dow has advanced 8 percent, while the S&P 500 has climbed 13.7 percent and the Nasdaq has jumped 16 percent.

IT COULD GET A LITTLE CRAZY

Equity volumes are expected to fall sharply next week. Last year, daily volume on each of the last five trading days dropped on average by about 49 percent, compared with the rest of 2011 - to just over 4 billion shares a day exchanging hands on the New York Stock Exchange, the Nasdaq and NYSE MKT in the final five sessions of the year from a 2011 daily average of 7.9 billion.

If the trend repeats, low volumes could generate a spike in volatility as traders keep track of any advance in the cliff talks in Washington.

"I'm guessing it's going to be a low volume week. There's not a whole lot other than the fiscal cliff that is going to continue to take the headlines," said Joe Bell, senior equity analyst at Schaeffer's Investment Research, in Cincinnati.

"A lot of people already have a foot out the door, and with the possibility of some market-moving news, you get the possibility of increased volatility."

Economic data would have to be way off the mark to move markets next week. But if the recent trend of better-than-expected economic data holds, stocks will have strong fundamental support that could prevent selling from getting overextended even as the fiscal cliff negotiations grind along.

Small and mid-cap stocks have outperformed their larger peers in the last couple of months, indicating a shift in investor sentiment toward the U.S. economy. The S&P MidCap 400 Index <.mid> overcame a technical level by confirming its close above 1,000 for a second week.

"We view the outperformance of the mid-caps and the break of that level as a strong sign for the overall market," Schaeffer's Bell said.

"Whenever you have flight to risk, it shows investors are beginning to have more of a risk appetite."

Evidence of that shift could be a spike in shares in the defense sector, expected to take a hit as defense spending is a key component of the budget talks.

The PHLX defense sector index <.dfx> hit a historic high on Thursday, and far outperformed the market on Friday with a dip of just 0.26 percent, while the three major U.S. stock indexes finished the day down about 1 percent.

Following a half-day on Wall Street on Monday ahead of the Christmas holiday, Wednesday will bring the S&P/Case-Shiller Home Price Index. It is expected to show a ninth-straight month of gains.

U.S. jobless claims on Thursday are seen roughly in line with the previous week's level, with the forecast at 360,000 new filings for unemployment insurance, compared with the previous week's 361,000.

(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: rodrigo.campos(at)thomsonreuters.com)

(Reporting by Rodrigo Campos; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

Egyptians back new constitution in referendum

Label: World

CAIRO (Reuters) - An Islamist-backed Egyptian constitution won approval in a referendum, rival camps said on Sunday, after a vote the opposition said would sow deep social divisions in the Arab world's most populous nation.

The Islamist Muslim Brotherhood, which propelled President Mohamed Mursi to power in a June election, said an unofficial tally showed 64 percent of voters backed the charter after two rounds of voting that ended with a final ballot on Saturday.

An opposition official also told Reuters their unofficial count showed the result was a "yes" vote, while party spokesmen said there had been a series of abuses during the voting.

The main opposition coalition, the National Salvation Front, responded to the defeat by saying it was moving towards forming a single political party to challenge the Islamists who have dominated the ballot box since strongman Hosni Mubarak was overthrown two years ago.

Members of the opposition, taking heart from a low turnout of about 30 percent of voters, pledged to keep up pressure on Mursi through peaceful protests and other democratic means.

"The referendum is not the end of the road," said Khaled Dawoud, a spokesman for the National Salvation Front. "It is only the beginning of a long struggle for Egypt's future."

The referendum committee may not declare official results for the two rounds until Monday, after hearing appeals. If the outcome is confirmed, a parliamentary election will follow in about two months.

Mursi's Islamist backers say the constitution is vital for the transition to democracy, nearly two years after Mubarak was ousted in a popular uprising. It will provide the stability needed to help a fragile economy, they say.

The constitution was "a historic opportunity to unite all national powers on the basis of mutual respect and honest dialogue for the sake of stabilizing the nation," the Brotherhood said in a statement.

RECIPE FOR UNREST

The opposition accuses Mursi of pushing through a text that favors Islamists and ignores the rights of Christians, who make up about 10 percent of the population, as well as women. They say it is a recipe for further unrest.

The opposition said voting in both rounds was marred by abuses. However, an official said the overall vote favored the charter.

"The majority is not big and the minority is not small," liberal politician Amr Hamzawy said, adding that the National Salvation Front would use "all peaceful, democratic means" such as protests to challenge the constitution.

The vote was split over two days as many judges had refused to supervise the ballot, making a single day of voting impossible.

During the build-up to the vote there were deadly protests, sparked by Mursi's decision to award himself extra powers in a November 22 decree and then to fast-track the constitutional vote.

The new basic law sets a limit of two four-year presidential terms. It says the principles of sharia, Islamic law, remain the main source of legislation but adds an article to explain this. It also says Islamic authorities will be consulted on sharia - a source of concern to Christians and others.

ABUSES

Rights groups reported what they said were illegalities in voting procedures. They said some polling stations opened late, that Islamists illegally campaigned at some polling places, and complained of irregularities in voter registration.

But the committee overseeing the two-stage vote said its investigations showed no major irregularities in voting on December 15, which covered about half of Egypt's 51 million voters. About 25 million were eligible to vote in the second round.

The Brotherhood said turnout was about a third of voters.

The opposition says the constitution will stir up more trouble on the streets since it has not received sufficiently broad backing for a document that should be agreed by consensus, and raised questions about the fairness of the vote.

In the first round, the district covering most of Cairo voted "no," which opponents said showed the depth of division.

"I see more unrest," said Ahmed Said, head of the liberal Free Egyptians Party and a member of the opposition Front.

He cited "serious violations" on the first day of voting, and said anger against Mursi was growing. "People are not going to accept the way they are dealing with the situation."

At least eight people were killed in protests outside the presidential palace in Cairo this month. Islamists and rivals clashed in Alexandria, the second-biggest city, on the eves of both voting days.

(Writing by Edmund Blair and Giles Elgood; editing by Philippa Fletcher)

Video games and shooting: Is the NRA right?

Label: Technology

After a week of silence following the Sandy Hook school shooting that killed 20 first graders and six staff in Newtown, Conn., the National Rifle Association blamed the entertainment industry – specifically the producers of violent video games for inciting what has become a pattern of gun violence in the United States.

In describing the industry, NRA Vice President Wayne LaPierre said, “There exists in this country a callous, corrupt and corrupting shadow industry that sells, and sows, violence against its own people.”

Mr. LaPierre faulted the news media for failing to report on “vicious, violent video games” such as “Grand Theft Auto,” “Mortal Kombat,” and “Splatterhouse” as egregious examples. He also singled out “Kindergarten Killer,” a free, fairly obscure online game.

“How come my research department could find it and all of yours either couldn’t or didn’t want anyone to know you had found it?” he asked reporters.

Recommended: Second Amendment Quiz

Most academic research, as well as studies by the FBI and the US Secret Service, examining the link between violent video games and incident of violence does not support the gun lobby’s charge.

For example, a 2008 report by researchers at Harvard Medical School and Massachusetts General Hospital funded by the US Department of Justice found that violent video games may increase bullying or physical fighting in schools, but not mass gun violence.

“It’s clear that the ‘big fears’ bandied about in the press – that violent video games make children significantly more violent in the real world; that they will engage in the illegal, immoral, sexist and violent acts they see in some of these games – are not supported by the current research, at least in such a simplistic form,” the report states.

Joan Saab, director of the visual and cultural studies program at the University of Rochester in New York, says the gaming industry should share in the blame for promoting military weaponry to young people, but adds that the popularity of such games reflect the “larger culture we live in, which is heavily militarized,” in the midst of lengthy combat operations in Iraq and Afghanistan.

Ms. Saab says that the NRA’s call for armed guards in schools would make that kind of military culture more pervasive for children.

“If there are more armed guards in schools, kids are exposed to more guns. That’s when fantasy and reality aren’t blurred. When there are guns in schools, it becomes real life and the day-to-day environment becomes more dangerous than the game,” she says. In Newtown, as in Aurora, Colo. and the sites of other mass shootings, the gunman was outfitted in military-style dress.

By blaming video games for gun violence, the NRA also puts itself in a vulnerable position because, as Mother Jones reports, the company partnered with gaming producer Cave Entertainment in 2006 for “NRA Gun Club,” a PlayStation 2 game that allows users to fire over 100 different brand-name handguns.

LaPierre did not specify if Congress should move forward in regulating the gaming industry, perhaps because previous attempts were not successful.

A US Supreme Court ruling in 2011 struck down a California law that made it a crime to sell or rent what it classified as violent video games to minors. The ruling said the law, signed by then-Gov. Arnold Schwarzenegger (R) in 2005, violates First Amendment protections.

In the wake of Sandy Hook, Senate Commerce Committee Chairman Jay Rockefeller introduced a bill that calls for the National Academy of Sciences to examine the possible links between violent video games and violent incidents caused by children.

Overall, gun-based video games do not wholly represent total gaming industry sales, according to data from VGChartz, a UK-based research firm that tracks gaming sales. In 2011, for example, just seven of the top 20 best-selling games in the US involve warfare simulation. The other titles – “Just Dance 3,” “Kinect Adventures!” “New Super Mario Bros. Wii,” “Madden NFL 12,” and “Pokemon Black/White” – are designed around sports, dance, and children’s cartoon characters.

All of the games LaPierre mentions are more than 15 years old, with some dating back to the 1980s, with their popularity waning. For example, total unit sales in the US for the “Mortal Kombat” franchise dropped 70 percent in 2012, compared to the previous year total. The game debuted in 1992.

Gaming experts say that the majority of the games LaPierre cited do not portray gun violence – “Mortal Kombat” involves hand-to-hand combat, for example. They say they do not understand why he did not single out “first person shooter” games such as blockbuster franchises like the “Call of Duty” series, which is based on simulated gun action and is considered one of the most hyper-violent on the market. In fact, according to news reports, the game was also a favorite of Adam Lanza, the Newtown gunman who spent hours at home playing it.

“Some of those games [LaPierre mentions] are older than the [Newtown] shooter,” who was 20, says Christopher Grant, editor-in-chief of Polygon.com, an online site based in New York City that covers gaming news and trends. “I have no idea why he chose them. My theory is he didn’t want to pick anything too modern [such as ‘Call of Duty’ or ‘Doom’] that might overlap unfavorably with something their own members might enjoy.”

“Call of Duty” is known as a favorite of the military and is often credited for driving up recruitment. Activision Blizzard, the company behind “Call of Duty,” has donated thousands of copies to the US Navy; the company also created a non-profit foundation to help returning US military veterans.

According to the NPD Group, a global market research firm, retail gaming sales in the US plummeted 20 percent in the first eight months of 2012 compared to the same time period the previous year, a trend that follows years of declining sales. Between 2008 and 2011, total sales of industry software and hardware dropped 20.5 percent. According to the gaming industry website Gamasutra, 2012 sales are expected to be the lowest since 2006.

The sales drop is representative of major shifts in the gaming industry, which is slowly moving away from console-based games to those that are played via smartphones, digital tablets, and online through social networks.

The change has produced a new type of gamer: They are generally older, more ethnically and economically diverse, and they feed their gaming appetite in smaller bites and on-the-go, as opposed to the traditional gamer profile of a few years ago, which tended to be young males playing for hours in one sitting.

The Entertainment Software Association, an industry trade group based in Washington, reports that the average gamer today is 30 years old, the most frequent game purchaser is 35 years old, and that almost half (47 percent) of all gamers are women.

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Buzzmakers: New X Factor and Miss Universe Winners

Label: Lifestyle

What had ET readers buzzing this week?

1. 'The X Factor' Crowns A Winner!

And the $5 million recording contract goes to…

Tate Stevens! The 37-year-old country crooner beat out runner-up 13-year-old Carly Rose Sonenclar for the top prize Thursday night. 35 million votes were cast Wednesday to determine victory for L.A. Reid's mentee.

Near tears, the Raymore, Missouri native thanked his fans for their overwhelming support.

"This is the best day of my life," said an emotional Stevens.

Girl group Fifth Harmony, mentored by Simon Cowell, placed third in the competition. Earlier in the night, the holiday themed finale saw performances by One Direction and Pitbull.

Auditions for an all-new season of The X Factor USA have already begun online. In-person auditions will start on March 6, 2013 in Los Angeles.

The celebrity judging panel has yet to be announced, but L.A. Reid has already taken himself out of the running. Spears has expressed interest in returning to the show for season three, but nothing has been confirmed.

2. Miss Universe 2012 Crowned

Beauties from 89 countries strutted their stuff Wednesday night in pursuit of the Miss Universe crown, but only one woman would earn the coveted title.

In the end a panel of ten celebrity judges, including Cee Lo Green and U.S. Olympic gold medalist Kerri Walsh Jennings, appointed Miss USA Olivia Culpo the winner.

The 20-year-old Rhode Island native beat out Miss Brazil (Gabriela Markus) Miss Philippines (Janine Tugonon), Miss Mexico (Irene Sofía Esser Quintero), and Miss Australia (Renae Ayris) for the distinction.

Culpo follows in the footsteps of Miss Angola, Leila Lopes, who earned the crown in 2011.

The two-hour show was broadcast live from Las Vegas with musical acts One Direction and Train lending their talents to the annual extravaganza.

3. Exclusive: Arsenio on His Late Night TV Return

Break out the Woof! Woof! fist pump: Arsenio Hall is coming back to late night TV in the Fall of 2013 after a 17-year break from the game, and only ET is behind the scenes with the timeless talk show host as he shoots his first-ever promo for The Arsenio Hall Show!

"[This is] the first time America will see anything on television about the show," says Arsenio. "Instead of a commercial where I do something like say, 'I'm baaaaack' -- and everybody's, 'Ugh' -- they've come up with a real, unique, creative angle that -- actually, I looked at dailies, and it scared me. I looked at the dailies and I frightened myself."

The trailer-length promo from CBS Television Distribution pays homage to horror movies and begins airing today on all Arsenio Hall Show affiliate stations, kicking off the campaign for the new late night syndicated talk show that will be seen all across the country next year.

"I'm real excited about this; so many things have changed in pop culture since I left the air," says Arsenio about his return to late night. "I can't wait."

The Arsenio Hall Show premieres on 9/9/13. Look for much more with Arsenio between now and then, only on ET!

4. Claire Danes Gives Birth

It's a boy!

Homeland star Claire Danes and her husband Hugh Dancy welcomed their very first child together on Monday, December 17, her rep confirms to People Magazine.

The proud parents named their bouncing baby boy Cyrus Michael Christopher Dancy.

Danes, 33, wed Dancy, 37, in 2009 after two years of dating.

5. President Obama is Time's Person of the Year

For 2012, Time Magazine has selected President Barack Obama as their Person of the Year.

"For finding and forging a new majority, for turning weakness into opportunity and for seeking, amid great adversity, to create a more perfect union, Barack Obama is Time's 2012 Person of the Year," Time's Managing Editor Richzard Stengel explained.

He also cited both of the president's re-elections, snagging over 50 percent of the popular vote, as one reason he received this honor.

This is the second year Time has tapped Obama as their Person of the Year -- he previously was selected in 2008 for becoming the first black president of the United States.

Time previously named the eight finalists for 2012's Person of the Year. They included: Bill and Hillary Clinton, Apple CEO Tim Cook, Malala Yousafzai (the Pakistani girl who was shot by the Taliban for her crusade for better girls' education), Yahoo! CEO Marissa Mayer, Egyptian president Mohamed Morsi and the three scientists who discovered the Higgs Boson particle.