Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.


The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.


Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.


An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.


"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


"What we're looking for is demand. Demand from small business owners, from consumers."


EARNINGS AND ECONOMIC EXPECTATIONS


Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.


Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.


Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.


Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.


HOUSING, INDUSTRIAL DATA ON TAP


Next week will also feature the release of a wide range of economic data.


Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.


Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.


Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.


"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."


POLITICAL ANXIETY


Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.


The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.


Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.


The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.


"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.


The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.


"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."


(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)



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Russia rejects Assad exit as precondition for Syria deal


MOSCOW/BEIRUT (Reuters) - Russia voiced support on Saturday for international peace envoy Lakhdar Brahimi but insisted Syrian President Bashar al-Assad's exit cannot be a precondition for a deal to end the country's conflict.


Some 60,000 Syrians have been killed during the 21-month-old revolt and world powers are divided over how to stop the escalating bloodshed. Government aircraft bombed outer districts of Damascus on Saturday after being grounded for a week by stormy weather, opposition activists in the capital said.


A Russian Foreign Ministry statement following talks on Friday with the United States and Brahimi reiterated calls for an end to violence in Syria, but there was no sign of a breakthrough.


Brahimi said the issue of Assad, whom the United States, European powers and Gulf-led Arab states insist must step down to end the civil war, appeared to be a sticking point at the meeting in Geneva.


Russia's Foreign Ministry said: "As before, we firmly uphold the thesis that questions about Syria's future must be decided by the Syrians themselves, without interference from outside or the imposition of prepared recipes for development."


Russia has been Assad's most powerful international backer, joining with China to block three Western- and Arab-backed U.N. Security Council resolutions aimed to pressure him or push him from power. Assad can also rely on regional powerhouse Iran.


In Geneva, Russia called for "a political transition process" based on an agreement by foreign powers last June.


Brahimi, who is trying to build on the agreement reached in Geneva on June 30, has met three times with senior Russian and U.S. diplomats since early December and met Assad in Damascus.


Russia and the United States disagreed over what the June agreement meant for Assad, with Washington saying it sent a clear signal he must go and Russia contending it did not.


CONFLICT INTENSIFIES


Moscow has been reluctant to endorse the "Arab Spring" popular revolts of the last two years, saying they have increased instability in the Middle East and created a risk of radical Islamists seizing power.


Although Russia sells arms to Syria and rents one of its naval bases, the economic benefit of its support for Assad is minimal. Analysts say President Vladimir Putin wants to prevent the United States from using military force or support from the U.N. Security Council to bring down governments it opposes.


However, as rebels gain ground in the war, Russia has given indications it is preparing for Assad's possible exit, while continuing to insist he must not be forced out by foreign powers.


Opposition activists say a military escalation and the hardship of winter have accelerated the death toll.


Rebel forces have acquired more powerful anti-tank and anti-aircraft weapons during attacks on Assad's military bases.


President Assad's forces have employed increasing amounts of military hardware including Scud-type ballistic missiles in the past two months. New York-based Human Rights Watch said they had also used incendiary cluster bombs that are banned by most nations.


STALEMATE IN CITIES


The week-long respite from aerial strikes has been marred by snow and thunderstorms that affected millions displaced by the conflict, which has now reached every region of Syria.


On Saturday, the skies were clear and jets and helicopters fired missiles and dropped bombs on a line of towns to the east of Damascus where rebels have pushed out Assad's ground forces, the Syrian Observatory for Human Rights said.


The British-based group, which is linked to the opposition, said it had no immediate information on casualties from the strikes on districts including Maleiha and farmland areas.


Rebels control large swathes of rural land around Syria but are stuck in a stalemate with Assad's forces in cities, where the army has reinforced positions.


State TV said government forces had repelled an attack by terrorists - a term it uses for the armed opposition - on Aleppo's international airport, now used as a helicopter base.


Reuters cannot independently confirm reports due to severe reporting restrictions imposed by the Syrian authorities and security constraints.


On Friday, rebels seized control of one of Syria's largest helicopter bases, Taftanaz in Idlib province, their first capture of a military airfield.


Eight-six people were killed on Friday, including 30 civilians, the Observatory said.


(Writing by Oliver Holmes; Editing by Tom Pfeiffer)



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Microsoft may have exited gadget show prematurely






LAS VEGAS (AP) — Microsoft may have relinquished its starring role in America’s gaudiest gadget show a year too early.


After 13 straight years in the spotlight, Microsoft’s decision to scale back its presence at this week’s International CES deprived the software maker of a prime opportunity to explain and promote a new generation of redesigned computers running its radically remade Windows operating system.






The missed chance comes at a time when Microsoft Corp. could use a bully pulpit to counter perceptions that Windows 8 isn’t compelling enough to turn the technological tide away from smartphones and tablets running software made by Apple Inc. and Google Inc.


“They needed to be at this show in a very big way to show the progress they have made and what is it about 2013 that is going to make consumers really gravitate toward a Windows 8 machine,” said technology industry analyst Patrick Moorhead.


Since Windows 8 went on sale in late October, there has been little evidence to suggest the operating system will lift the personal computer industry out of a deepening downturn. Worldwide PC shipments during the final three months of last year dropped 6 percent from the same period in 2011, according to the research firm International Data Corp. The dip occurred despite the bevy of Windows 8 laptops and desktop machines that were on sale during the holiday shopping season.


Microsoft, though, insists things worked out at just fine during CES, even though it didn’t have a booth and only had a smattering of executives at the sprawling trade show, which drew some 156,000 people to Las Vegas.


The company, which is based in Redmond, Wash., decided it no longer makes sense to invest as much time and money in CES as it once did. The company says the show’s early January slot doesn’t mesh with the timing of its major product releases. Windows 8, for instance, was still more than nine months away from hitting the market when Microsoft CEO Steve Ballmer kicked off last year’s CES with a keynote address that was billed as the company’s swan song at the show.


“We are very comfortable with our decision,” Microsoft spokesman Frank Shaw said. “It has been a productive show for us this year.”


Microsoft’s retreat from CES puzzled some attendees curious about Windows 8. For instance, when Michael Sullivan showed up at computer maker Asus’ booth, which was stocked with Windows 8 computers, there was no one around to discuss the machines or the software.


“This is unusual,” said Sullivan, CEO of computer sales firm Spec 4 International Inc. “I don’t understand why a successful company isn’t bringing executives here.”


Asus invited some CES attendees to learn more about Windows 8 at a nearby hotel, away from the show’s main trade show. Asus has left its booth unmanned in previous years at CES, but the void wasn’t as noticeable when Microsoft’s own representatives were canvassing the floor.


NPD DisplaySearch analyst Richard Shim thought Microsoft should have had more people helping to staff its partners’ booths because, he said, no one understands how Windows 8 works better than the company that made it.


“Whenever you have a new product rolling out, it’s always helpful to communicate your message directly as opposed to counting on your partners,” Shim said.


Microsoft elected to curtail its CES presence largely because the show’s marketing value has diminished. In recent years, companies such as Apple and Google have shown that they can command more attention by holding their own exclusive events to unveil products just before they go on sale. Neither Apple nor Google had a major presence at CES.


In a sign that it is embracing its rivals’ strategy, Microsoft staged separate events last year in Los Angeles and New York to unveil Surface, a Windows-powered tablet computer, and Windows 8.


Nevertheless, both Shim and Moorhead believe would have been better off waiting until after this year’s CES to surrender its top billing on the marquee. That way, Ballmer could have used this year’s opening CES keynote to talk about Windows 8′s advantages as a finished product.


“Ballmer could have talked about the operating system more completely and built more hype around it, especially since Microsoft has been getting beaten up so far over Windows 8′s performance,” Shim said.


When Ballmer ended Microsoft’s 13-year streak of kicking off CES, he was only able to provide a peek at a makeover of the operating system that was still months away from being completed.


Microsoft touts Windows 8 as a breakthrough that will enable people to straddle the divide between personal computers and tablets. The revamped operating system is built to respond to the touch of a finger so it can work on tablet computers while still retaining the ability to respond to commands from keyboards and mice on laptop and desktop machines. To take advantage of Windows 8′s versatility, many PC makers are building convertible devices that can work as a tablet or a laptop.


But reviews of the new operating system have been lukewarm. Critics have been panning it as too confusing and cumbersome.


Microsoft used part of a CES technology forum presented by J.P. Morgan to try to build more enthusiasm. The company revealed that 60 million copies of Windows 8 have been sold so far, putting it on the same pace as the previous version — Windows 7 — at the same juncture of its release. But it’s unclear how many of those Windows 8 licenses are installed on computers that are still sitting in stores or warehouses.


Investors have been so unimpressed with the reception to the new Windows products that Microsoft’s stock price has slipped 4 percent since the operating system’s Oct. 26 release. Meanwhile, the bellwether Standard & Poor’s 500 index has gained 4 percent. Microsoft’s stock closed Friday at $ 26.83, up 37 cents.


A clearer picture of the early reception to Windows 8 may emerge Jan. 24 when Microsoft is scheduled to report its earnings for the three months spanning the holiday shopping season.


Although he wasn’t the main attraction, Ballmer made a cameo appearance during Qualcomm Inc. CEO Paul Jacobs’ opening address at this year’s show.


Ballmer’s acceptance of Qualcomm’s invitation to join Jacobs on stage surprised some people because Qualcomm has emerged as a threat to Intel Corp., a longtime Microsoft ally that makes most of the processors in Windows computers. Instead of touting Windows 8, Ballmer spent his time hailing a streamlined version of the operating system, dubbed Windows RT, which runs on tablets using processors that rely on technology designed by ARM, another Intel rival.


Microsoft’s top executive in charge of technical strategy appeared on stage at Samsung Electronics’ invitation to reveal a Windows phone featuring a flexible color display. The electronics of the phone are in a little box, and the thin, bendable screen is attached to it, looking much like a piece of paper.


That left Intel and other Microsoft partners, including PC makers Samsung, Sony, Asus, Acer and Hewlett-Packard Co., to do most of the boasting about Windows 8 at their own CES booths.


“Our partners are doing that very effectively,” Shaw said. “You couldn’t walk through the (CES) floor without seeing people doing really interesting things with Windows 8.”


But there were other times when it appeared Microsoft’s partners could have used some help.


Sony exhibitor John Guzman, for instance, seemed stumped when an Associated Press reporter visited the company’s CES booth and asked whether a machine running Windows 8 or the more advanced Windows 8 Pro would be a better fit for journalistic work.


“That is more of a Microsoft question,” Guzman said, adding that no Microsoft representatives were around.


___


Liedtke reported from San Francisco. AP Technology Writer Peter Svensson contributed to this story.


Gadgets News Headlines – Yahoo! News





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Buzzmakers: Dina Lohan's Black Eye And New The Voice Clips

What had ET readers buzzing this week?

1. Dina Lohan's Black Eye Photos

Following Dina Lohan's shocking claims that her husband Michael abused her during their marriage (and Michael's denial), ET has obtained vintage photos of the mother of four with a black eye.

Click here for the shocking pics.

2. 'The Voice' Coaches Dish on New Season

It looks like Adam Levine is off the hook for the upcoming season of The Voice, as Blake Shelton has a new man crush on Usher.

During the Television Critics Association Press Tour, the singers revealed that Shelton's uncomfortable advances towards Levine -- done in jest -- have now been turned to the newest male addition on the coaching panel.

"He's left me for Usher now," Levine joked. "So he gets to spend the season making Usher feel uncomfortable."

"And I think I'm doing a really good job of that, by the way," Shelton added. "I've said and done about everything that crosses the line."

While Shelton's focused on Usher, the rest of the fellas seem to have eyes for Shakira, who will also be joining the show for the upcoming season.

"She's so sexy," said host Carson Daly.

"She's a sweetheart," Levine agreed.

Season four of The Voice premieres March 25 on NBC. Click here for the panel's new interviews!

3. Miranda Lambert Defends Her Chris Brown Comments

Country crooner Miranda Lambert has no intention of retracting her statements made this past year about R&B singer Chris Brown and his domestic abuse in 2009 towards his on-again, off-again girlfriend Rihanna.

At the Grammy Awards this past year, Lambert, 29, tweeted following Brown's performance, writing: "He beat on a girl. not cool that we act like that didn't happen."

"I didn't feel right about not saying something. The loudmouth that I am, I say what I think," she told Redbook magazine of the tweet. "I wanted everyone to know that I don't agree with the message it's sending to young women."

Adding to her opinion of Brown, Lambert, who is married to The Voice judge Blake Shelton, said, "It's not okay. At all. To be celebrated after doing something like that. I don't think it's right, I never will, and I will stand by what I said till the day that I die."

4. Diane Lane After Husband Josh Brolin's Arrest

As news broke of Josh Brolin's New Year's Day arrest, ET caught up with Brolin's wife Diane Lane at the Palm Springs International Film Festival, where she appeared sans her husband.

Lane arrived cheerful and relaxed alongside her Nights of Rodanthe co-star Richard Gere, whom she presented the Chairman's Award.

"[Brolin] is actually with my wife [actress Carey Lowell] tonight, so everything's fine," joked Gere when asked how Brolin felt about missing the event.

"We have an arrangement," Lane kidded. "It's all good."

5. Fierce Fashions: The 2013 People's Choice Awards

The sparkling stars of film, TV and music donned their red carpet best as they kicked off awards season Wednesday night at the 2013 People's Choice Awards in Los Angeles.

Visit our gallery for all the stunning styles!

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Hospitals crack down on workers refusing flu shots


CHICAGO (AP) — Patients can refuse a flu shot. Should doctors and nurses have that right, too? That is the thorny question surfacing as U.S. hospitals increasingly crack down on employees who won't get flu shots, with some workers losing their jobs over their refusal.


"Where does it say that I am no longer a patient if I'm a nurse," wondered Carrie Calhoun, a longtime critical care nurse in suburban Chicago who was fired last month after she refused a flu shot.


Hospitals' get-tougher measures coincide with an earlier-than-usual flu season hitting harder than in recent mild seasons. Flu is widespread in most states, and at least 20 children have died.


Most doctors and nurses do get flu shots. But in the past two months, at least 15 nurses and other hospital staffers in four states have been fired for refusing, and several others have resigned, according to affected workers, hospital authorities and published reports.


In Rhode Island, one of three states with tough penalties behind a mandatory vaccine policy for health care workers, more than 1,000 workers recently signed a petition opposing the policy, according to a labor union that has filed suit to end the regulation.


Why would people whose job is to protect sick patients refuse a flu shot? The reasons vary: allergies to flu vaccine, which are rare; religious objections; and skepticism about whether vaccinating health workers will prevent flu in patients.


Dr. Carolyn Bridges, associate director for adult immunization at the federal Centers for Disease Control and Prevention, says the strongest evidence is from studies in nursing homes, linking flu vaccination among health care workers with fewer patient deaths from all causes.


"We would all like to see stronger data," she said. But other evidence shows flu vaccination "significantly decreases" flu cases, she said. "It should work the same in a health care worker versus somebody out in the community."


Cancer nurse Joyce Gingerich is among the skeptics and says her decision to avoid the shot is mostly "a personal thing." She's among seven employees at IU Health Goshen Hospital in northern Indiana who were recently fired for refusing flu shots. Gingerich said she gets other vaccinations but thinks it should be a choice. She opposes "the injustice of being forced to put something in my body."


Medical ethicist Art Caplan says health care workers' ethical obligation to protect patients trumps their individual rights.


"If you don't want to do it, you shouldn't work in that environment," said Caplan, medical ethics chief at New York University's Langone Medical Center. "Patients should demand that their health care provider gets flu shots — and they should ask them."


For some people, flu causes only mild symptoms. But it can also lead to pneumonia, and there are thousands of hospitalizations and deaths each year. The number of deaths has varied in recent decades from about 3,000 to 49,000.


A survey by CDC researchers found that in 2011, more than 400 U.S. hospitals required flu vaccinations for their employees and 29 hospitals fired unvaccinated employees.


At Calhoun's hospital, Alexian Brothers Medical Center in Elk Grove Village, Ill., unvaccinated workers granted exemptions must wear masks and tell patients, "I'm wearing the mask for your safety," Calhoun says. She says that's discriminatory and may make patients want to avoid "the dirty nurse" with the mask.


The hospital justified its vaccination policy in an email, citing the CDC's warning that this year's flu outbreak was "expected to be among the worst in a decade" and noted that Illinois has already been hit especially hard. The mandatory vaccine policy "is consistent with our health system's mission to provide the safest environment possible."


The government recommends flu shots for nearly everyone, starting at age 6 months. Vaccination rates among the general public are generally lower than among health care workers.


According to the most recent federal data, about 63 percent of U.S. health care workers had flu shots as of November. That's up from previous years, but the government wants 90 percent coverage of health care workers by 2020.


The highest rate, about 88 percent, was among pharmacists, followed by doctors at 84 percent, and nurses, 82 percent. Fewer than half of nursing assistants and aides are vaccinated, Bridges said.


Some hospitals have achieved 90 percent but many fall short. A government health advisory panel has urged those below 90 percent to consider a mandatory program.


Also, the accreditation body over hospitals requires them to offer flu vaccines to workers, and those failing to do that and improve vaccination rates could lose accreditation.


Starting this year, the government's Centers for Medicare & Medicaid Services is requiring hospitals to report employees' flu vaccination rates as a means to boost the rates, the CDC's Bridges said. Eventually the data will be posted on the agency's "Hospital Compare" website.


Several leading doctor groups support mandatory flu shots for workers. And the American Medical Association in November endorsed mandatory shots for those with direct patient contact in nursing homes; elderly patients are particularly vulnerable to flu-related complications. The American Nurses Association supports mandates if they're adopted at the state level and affect all hospitals, but also says exceptions should be allowed for medical or religious reasons.


Mandates for vaccinating health care workers against other diseases, including measles, mumps and hepatitis, are widely accepted. But some workers have less faith that flu shots work — partly because there are several types of flu virus that often differ each season and manufacturers must reformulate vaccines to try and match the circulating strains.


While not 100 percent effective, this year's vaccine is a good match, the CDC's Bridges said.


Several states have laws or regulations requiring flu vaccination for health care workers but only three — Arkansas, Maine and Rhode Island — spell out penalties for those who refuse, according to Alexandra Stewart, a George Washington University expert in immunization policikfriedenes and co-author of a study appearing this month in the journal Vaccine.


Rhode Island's regulation, enacted in December, may be the toughest and is being challenged in court by a health workers union. The rule allows exemptions for religious or medical reasons, but requires unvaccinated workers in contact with patients to wear face masks during flu season. Employees who refuse the masks can be fined $100 and may face a complaint or reprimand for unprofessional conduct that could result in losing their professional license.


Some Rhode Island hospitals post signs announcing that workers wearing masks have not received flu shots. Opponents say the masks violate their health privacy.


"We really strongly support the goal of increasing vaccination rates among health care workers and among the population as a whole," but it should be voluntary, said SEIU Healthcare Employees Union spokesman Chas Walker.


Supporters of health care worker mandates note that to protect public health, courts have endorsed forced vaccination laws affecting the general population during disease outbreaks, and have upheld vaccination requirements for schoolchildren.


Cases involving flu vaccine mandates for health workers have had less success. A 2009 New York state regulation mandating health care worker vaccinations for swine flu and seasonal flu was challenged in court but was later rescinded because of a vaccine shortage. And labor unions have challenged individual hospital mandates enacted without collective bargaining; an appeals court upheld that argument in 2007 in a widely cited case involving Virginia Mason Hospital in Seattle.


Calhoun, the Illinois nurse, says she is unsure of her options.


"Most of the hospitals in my area are all implementing these policies," she said. "This conflict could end the career I have dedicated myself to."


__


Online:


R.I. union lawsuit against mandatory vaccines: http://www.seiu1199ne.org/files/2013/01/FluLawsuitRI.pdf


CDC: http://www.cdc.gov


___


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


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Wall Street falls, pressured by Wells Fargo, banks

NEW YORK (Reuters) - Stocks edged lower on Friday after Wells Fargo & Co , the first major bank to kick off fourth-quarter earnings season for the financial sector, reported a decline in net interest margin despite a record profit in the latest quarter.


Wells Fargo, the fourth-biggest U.S. bank and the nation's largest home lender, said its fourth-quarter net interest margin - a key measure of how much money banks make from loans - fell, even as profit jumped 24 percent. The bank also made fewer mortgage loans than in the third quarter.


"It (Wells Fargo results) is weighing on the sector. We are keeping our fingers crossed that this won't be a sector thing and more confined to Wells Fargo, but it's definitely playing a factor today," said Larry Peruzzi, senior equity trader at Cabrera Capital Markets LLC in Boston.


The bank's shares fell 1.4 percent to $34.92. The S&P 500 financial sector index <.gspf> fell 0.6 percent and the KBW Banks index <.bkx> fell 1 percent. Bank of America Corp , JPMorgan Chase & Co and Citigroup Inc are due to report results next week.


Overall earnings were expected to grow by 1.9 percent in this earnings season, according to Thomson Reuters data.


The Dow Jones industrial average <.dji> was up 6.12 points, or 0.05 percent, at 13,477.34. The Standard & Poor's 500 Index <.spx> was down 2.37 points, or 0.16 percent, at 1,469.75. The Nasdaq Composite Index <.ixic> was down 2.19 points, or 0.07 percent, at 3,119.56.


Also keenly watched Friday were shares of Dow component Boeing , which fell 2.6 percent to $75.11 after a cracked cockpit window and an oil leak on separate flights in Japan compounded safety concerns about its new 787 Dreamliner. The U.S. Department of Transportation said the jet would be subject to a review of its critical systems by regulators.


Best Buy shares rallied after its results showed a bit of a turnaround in its U.S. stores, though same-store sales were flat during the key holiday season. Shares jumped 12 percent to $13.69.


Basic materials shares were pressured after China's annual consumer inflation rate picked up to a seven-month high, narrowing the scope for the central bank to boost the economy by easing monetary policy. The S&P basic materials sector <.gspm> fell 0.6 percent.


Dendreon Corp shares jumped 14.7 percent to $5.85 after Sanford C. Bernstein upgraded the drugmaker's stock to "outperform" from "market-perform" and said it could be one of the best performers in 2013.


(Editing by Bernadette Baum, Nick Zieminski)



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Obama: U.S. forces to move to Afghan support role in spring

Jan 11 (Reuters) - Tiger Woods may guarantee packed galleries but even the oil-rich Qataris cannot afford the former world number one's appearance fee for the only European Tour event in the Gulf state. The American's involvement at the Jan. 23-26 Qatar Masters would cost a whopping $3 million, said Qatar Golf Association president Hassan al Nuaimi. "Tiger Woods demands $3 million just for an appearance, if he were to compete - which is not worth paying for a tournament of $2.5 million prize money," he told the Doha News. ...
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Sprint confirms it will launch BlackBerry 10 later this year









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Taylor Swift Grammy Promo

Multiple Grammy-award winning Taylor Swift appropriately graces 2013's first Grammy promo, which features the 23-year-old superstar inspiring the next generation of music virtuosos and legends.

The short clip is the first of The Recording Academy's ad campaign for this year's Grammys titled #TheWorldIsListening, which will feature both established and up-and-coming artists. The artists confirmed to be involved include Rihanna, who will tell her story in the first commercial titled "Slammed Door," while the Kills, Snoop Lion and Taylor Swift appear alongside emerging artists such as Grace Potter, Kishi Bashi and Dam-Funk in the second commercial. The Black Keys appear in the third and last commercial, titled "Soundcheck."

Related: The 2013 Grammy Nominations

In addition, #TheWorldIsListening campaign has created a new website, www.grammyamplifier.com, that allows musicians to share their tracks via SoundCloud for a chance to have their music tweeted out by a panel of musical icons, including Linkin Park, RZA, and Snoop Lion.

The ultimate goal? Giving emerging artists who have the potential to be the next generation of Grammy winners a serious platform.

Video: Grammys Flashback '05 -- Kanye Wins First of Many

The 55th Annual Grammy Awards airs Sunday, Feb. 10, 2013 on CBS at 8 p.m.

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Flu more widespread in US; eases off in some areas


NEW YORK (AP) — Flu is more widespread across the nation, but the number of hard-hit states has declined, health officials said Friday.


Flu season started early this winter, and includes a strain that tends to make people sicker. Health officials have forecast a potentially bad flu season, following last year's unusually mild one.


The latest numbers, however, hint that the flu season may already have peaked in some spots.


Flu was widespread in 47 states last week, up from 41 the week before, the Centers for Disease Control and Prevention said on Friday. Many cases may be mild. The only states without widespread flu are California, Mississippi and Hawaii


The hardest hit states dropped to 24 from 29. Those are states where large numbers of people have been treated for flu-like illness.


Those with less activity include Florida, Arkansas and South Carolina in South, the first region hit in the current flu season.


Nationally, 20 children have died from the flu. There is no running tally of adult deaths, but the CDC estimates that the flu kills about 24,000 people in an average year.


Flu vaccinations are recommended for everyone 6 months or older. Health officials are still recommending vaccinations, even in areas with widespread flu reports.


Nearly 130 million doses of flu vaccine were distributed this year, and at least 112 million have been used, according to CDC officials.


Vaccine is still available, but supplies may have run low in some locations, health officials say.


Also on Friday, CDC officials said a recent study of more than 1,100 people has concluded the current flu vaccine is 62 percent effective. That's in line with how effective the vaccine has been in other years.


The flu vaccine is reformulated each year, and officials say this year's version is a good match to the viruses going around.


Flu usually peaks in midwinter. Symptoms can include fever, cough, runny nose, head and body aches and fatigue. Some people also suffer vomiting and diarrhea, and some develop pneumonia or other severe complications.


Most people with flu have a mild illness. But people with severe symptoms should see a doctor. They may be given antiviral drugs or other medications to ease symptoms.


___


Online:


CDC flu: http://www.cdc.gov/flu/index.htm


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