Housing, job data push S&P to five-year high; Intel down late

NEW YORK (Reuters) - Stronger-than-expected data on housing starts and jobless claims lit a fire under stocks on Thursday, pushing the S&P 500 to a five-year high and its third day of gains.


A pair of economic reports lifted investors' sentiment. The number of Americans filing new claims for unemployment benefits fell to a five-year low last week and housing starts jumped last month to the highest since June 2008.


Strength in the housing and labor markets is key to sustained growth and higher corporate profits, helping to bring out buyers even on a day when earnings reports were mixed.


Gains were tempered by weakness in the financial sector, with Bank of America down 4.2 percent to $11.28 and Citigroup off 2.9 percent to $41.24 after their results.


In other negative earnings news, shares of chipmaker Intel fell 5.2 percent to $21.49 in extended-hours trading after the company forecast quarterly revenue that fell short of analysts' expectations. Intel had ended the regular session up 2.6 percent at $22.68.


The S&P 500 ended at its highest since December 2007 and now sits just 5.6 percent from its all-time closing high of 1,565.15.


"Having consolidated really for the last two weeks, the fact that we broke out, I think that that is sucking in quite a bit of money," said James Dailey, portfolio manager of TEAM Asset Strategy Fund in Harrisburg, Pennsylvania.


The Dow Jones industrial average <.dji> was up 84.79 points, or 0.63 percent, at 13,596.02. The Standard & Poor's 500 Index <.spx> was up 8.31 points, or 0.56 percent, at 1,480.94. The Nasdaq Composite Index <.ixic> was up 18.46 points, or 0.59 percent, at 3,136.00.


Better-than-expected earnings and revenue reported by online marketplace eBay late Wednesday helped the stock gain 2.7 percent to $54.33.


In the housing sector, PulteGroup Inc shares gained 4.9 percent to $20.29 and Toll Brothers Inc advanced 3.1 percent to $35.99. The PHLX housing sector index <.hgx> climbed 2.4 percent, reaching its highest close since August 2007.


Semiconductor shares <.sox> rose 2 percent to the highest close in eight months.


Financials were the only S&P 500 sector to register a slight decline for the day.


Bank of America's fourth-quarter profit fell as it took more charges to clean up mortgage-related problems. Citigroup posted $2.32 billion of charges for layoffs and lawsuits.


Energy shares led gains on the Dow as U.S. crude oil prices jumped more than 1 percent. Shares of Exxon Mobil were up 0.8 percent at $90.20 while shares of Chevron were up 0.7 percent at $114.75.


S&P 500 earnings are expected to have risen 2.3 percent in the fourth quarter, Thomson Reuters data showed. Expectations for the quarter have fallen considerably since October when a 9.9 percent gain was estimated.


Volume was roughly 6.5 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.


Advancers outpaced decliners on the NYSE by about 22 to 7 and on the Nasdaq by about 2 to 1.


(Additional reporting by Chuck Mikolajczak; Editing by Kenneth Barry and Nick Zieminski)



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IHT Rendezvous: IHT Quick Read: Jan. 17

NEWS The U.S. State Department said Americans were among hostages captured by Islamist extremists in Algeria on Wednesday, in what the attackers called retaliation for France’s intervention in Mali. Adam Nossiter and Scott Sayare report.

Nearly half of Germany’s gold reserves are held in a vault at the Federal Reserve Bank of New York — billions of dollars worth of postwar geopolitical history squirreled away for safe keeping. Now the German central bank wants to make a big withdrawal — 300 tons in all. Jack Ewing reports from Frankfurt.

The Federal Aviation Administration said Wednesday that it was grounding all Boeing 787s operated by United States carriers until it can determine what caused a new type of battery to catch fire on two planes in nine days. Other regulators around the globe followed suit. Christopher Drew, Jad Mouwad and Matthew L. Wald report.

China is hoping a huge investment in its universities can help leverage its population into 195 million college graduates by the end of the decade. Keith Bradsher reports from Sanya, China.

Fleur Pellerin, a deputy finance minister in France, is the point woman in President François Hollande’s campaign to stimulate innovation. But in trying to put a French imprint on the digital economy, she has been drawn into a growing number of disputes with U.S. technology companies like Google, Twitter and Amazon. Eric Pfanner and David Jolly report from Paris.

The dark, double-breasted suits have long been a mainstay, but now Silvio Berlusconi, the former prime minister of Italy, has taken to wearing the occasional fedora. It lends him a rakish, retro air as he embarks on what many Italians, foreign investors and no doubt Chancellor Angela Merkel of Germany hoped would never happen: another election campaign. Rachel Donadio reports from Rome.

A judge in Siberia on Wednesday rejected an appeal by a member of the punk protest band Pussy Riot to be released temporarily so that she could be with her 5-year-old son while he was growing up, telling the courtroom that having a small child “did not prevent her from committing a serious crime.” Ellen Barry reports from Moscow.

ARTS Art Basel, the Switzerland-based grandfather of international art fairs, has announced the lineup of its first Asian fair. Joyce Lau reports from Hong Kong.

An Italian professor is attempting to turn Karkemish, an ancient city site on the banks of the Euphrates, on Turkey’s southern border and inside a restricted military zone, into a public archaeology park. The war in Syria is not the first conflict to disrupt his plans. Suzanne Fowler reports from Karmemish, Turkey.

FASHION Two fashion behemoths — LVMH Moët Hennessy Louis Vuitton and PPR — have turned to a new, young generation of designers. Suzy Menkes writes from Paris.

SPORTS Pep Guardiola, the world’s most sought-after soccer coach, will take over as head coach of the German powerhouse Bayern Munich at the conclusion of the season. Andrew Keh reports.

The Knicks will play the Pistons on Thursday before a capacity crowd in London, but that doesn’t mean interest in basketball is intense. Steven Cotton writes from London.

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Mysterious Samsung smartphone pictured with Verizon branding







Earlier this week, a mysterious Samsung (005930) smartphone appeared on GLBenchmark’s database with the model number SCH-I425. The number fell in line with previous Verizon (VZ) devices, leading us to speculate that it could be the Stratosphere III. New images posted by Engadget on Wednesday confirmed that the handset is real, however it does not feature earlier Stratosphere devices’ signature QWERTY keyboard. The device resembles the Galaxy S III mini, although the smartphone includes four capacitive buttons rather than Samsung’s physical home key. As the benchmarks revealed, the SCH-I425 is also equipped with a 720p display, a 1.4GHz dual-core Snapdragon S4 processor, 4G LTE and Android 4.1.2. While the actual screen size is unknown, it appears to be in the 4-inch range. A second image of the unannounced phone follows below.


[More from BGR: The true genius of Facebook’s Graph Search]






This article was originally published on BGR.com


Wireless News Headlines – Yahoo! News





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American Idol's New Judges Make Their Debut






American Idol










01/16/2013 at 11:00 PM EST







From left: Randy Jackson, Mariah Carey, Ryan Seacrest, Nicki Minaj and Keith Urban


Michael Becker/FOX.


American Idol is back!

Season 12 premiered Wednesday night with the first auditions in New York City. And fans hoping to get a taste of drama from new judges Mariah Carey and Nicki Minaj were not disappointed.

"Right away we knew it was going to be an interesting couple of days," host Ryan Seacrest said at the start of the two-hour episode.

And he was right. (Spoilers ahead!) While fellow newbie Keith Urban and veteran judge Randy Jackson were all about the business of finding talented singers, there was immediate tension between Carey and Minaj, who wore a drum major's hat to her first day on the job.

"We can have accessories?" Carey said disapprovingly after taking her seat at the panel. "I didn't know that was allowed."

"Why did you have to reference my hat?" Minaj responded.

Later, when Carey boasted about her holiday hit, "All I Want for Christmas," Minaj clenched her fists, gritted her teeth and used the b-word. Carey's response? "I rebuke it," she said.

The two women talked over each other at times, rolled eyes and seemed to annoy one another. More than once Carey said "Nicki" like an frustrated mother calls her child out for misbehaving. And Minaj pushed Carey's buttons by talking in a British accent.

But as the two formerly feuding judges have said in recent interviews, the show should be about the hopeful contestants – and there were a handful of talented singers who earned golden tickets to Hollywood:

• Tenna Torres, who attended Camp Mariah and had previously sung for the singer, impressed the panel with her version of "You've Got a Friend," and made her idol very proud.

• Christina "Isabelle," who told a story of losing weight and finding confidence, had Minaj saying, "OMG! OMG!" with her version of "Summertime."

• Frankie Ford, who sings for change on the New York City subway system, stumbled at first but delivered a soulful version of the Eurythmics' "Sweet Dreams." "I like your big voice," Urban said. "There's a lot of musicality in the tone."

Added Carey: "You have an inner glow, which is always beautiful to see."

• Despite hearing loss in both ears, Angela Miller, who sang "Mama Knows Best" by Jessie J, was "definitely one of the best," according to Jackson.

• And Ashlee Feliciano thrilled the female judges with her version of Corinne Bailey Rae's "Put Your Records On." "So pretty," Minaj said. "I want to come to your show ... I'm so inspired by you."

"The potential is great. It was beautiful," Carey said. "You should be really proud of yourself."

At the end of the first two days of auditions, the re-invented Idol panel had done its job: the judges praised the talented singers and handed out 41 tickets to Hollywood; they sent home the kooky contestants (often sweetly) and offered constructive criticism and an invitation to come back next year to the ones still on their way to greatness.

"We gel well in a weird crazy way," Minaj said at the end of the show. Carey said, "I agree."

We'll see how long that lasts! Auditions continue Thursday (8 p.m. ET) on Fox.

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Large study confirms flu vaccine safe in pregnancy


NEW YORK (AP) — A large study offers reassuring news for pregnant women: It's safe to get a flu shot.


The research found no evidence that the vaccine increases the risk of losing a fetus, and may prevent some deaths. Getting the flu while pregnant makes fetal death more likely, the Norwegian research showed.


The flu vaccine has long been considered safe for pregnant women and their fetus. U.S. health officials began recommending flu shots for them more than five decades ago, following a higher death rate in pregnant women during a flu pandemic in the late 1950s.


But the study is perhaps the largest look at the safety and value of flu vaccination during pregnancy, experts say.


"This is the kind of information we need to provide our patients when discussing that flu vaccine is important for everyone, particularly for pregnant women," said Dr. Geeta Swamy, a researcher who studies vaccines and pregnant women at Duke University Medical Center.


The study was released by the New England Journal of Medicine on Wednesday as the United States and Europe suffer through an early and intense flu season. A U.S. obstetricians group this week reminded members that it's not too late for their pregnant patients to get vaccinated.


The new study was led by the Norwegian Institute of Public Health. It tracked pregnancies in Norway in 2009 and 2010 during an international epidemic of a new swine flu strain.


Before 2009, pregnant women in Norway were not routinely advised to get flu shots. But during the pandemic, vaccinations against the new strain were recommended for those in their second or third trimester.


The study focused on more than 113,000 pregnancies. Of those, 492 ended in the death of the fetus. The researchers calculated that the risk of fetal death was nearly twice as high for women who weren't vaccinated as it was in vaccinated mothers.


U.S. flu vaccination rates for pregnant women grew in the wake of the 2009 swine flu pandemic, from less than 15 percent to about 50 percent. But health officials say those rates need to be higher to protect newborns as well. Infants can't be vaccinated until 6 months, but studies have shown they pick up some protection if their mothers got the annual shot, experts say.


Because some drugs and vaccines can be harmful to a fetus, there is a long-standing concern about giving any medicine to a pregnant woman, experts acknowledged. But this study should ease any worries about the flu shot, said Dr. Denise Jamieson of the Centers for Disease Control and Prevention.


"The vaccine is safe," she said.


___


Online:


Medical journal: http://www.nejm.org


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Asian shares retreat on caution ahead of Chinese data

TOKYO (Reuters) - Asian shares fell on Thursday, erasing earlier gains amid worries about the global growth outlook as investors remained cautious ahead of Chinese data on Friday.


The MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> fell 0.2 percent, extending declines for a third consecutive session, led by a slump in Chinese shares. The index's financial sector <.miapjfn00pus> was down 0.2 percent despite robust earnings reports overnight from Goldman Sachs and JPMorgan Chase .


The Shanghai Composite Index <.ssec> slid 1 percent, retreating further from a 7-1/2-month high and wiping earlier gains in Hong Kong <.hsi> which fell 0.1 percent.


Shares of Japanese suppliers of Dreamliner declined after U.S. regulators said it would temporarily ground Boeing Co's 787s after battery failures caused one of the Dreamliner passenger jets to make an emergency landing in Japan.


GS Yuasa Corp , which makes the batteries for Boeing's new 787 Dreamliner, tumbled 5 percent while Mitsubishi Heavy Industries Ltd , which makes the wings, dropped 0.6 percent.


Growth-sensitive sectors dented Hong Kong shares ahead of a slew of key Chinese economic data including fourth-quarter GDP, December industrial output, retail sales and house price, which will offer clues on the health of Asia's biggest economy.


"I think people are still just taking profit from the out-sized jump in the A-share market earlier this week," said Hong Hao, chief equity strategist at Bank of Communication International Securities, referring to onshore Chinese shares where foreign investors have limited access.


"We are early in this rotation into cyclicals at the start of a new economic cycle in China, so some are still operating as in a bear market, selling into strength and clocking profits by rotating swiftly between sectors," Hong added.


Australian shares <.axjo> bucked the general bear trend and added 0.4 percent to a 20-month closing high, after data showing an unexpected fall in Australian employment in December raised the chances for another interest rate cut. The prospect of further policy easing sent the Australian dollar down to session lows of $1.0494 from $1.0560 before the data.


Investor concerns about the global economy flared again after the World Bank on Wednesday sharply cut its outlook for world growth this year.


European markets are seen easing, with financial spread-betters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open down as much as 0.2 percent. A 0.1 percent fall in U.S. stock futures hinted at a weak start on Wall Street. <.l><.eu><.n/>


YEN NERVOUS BEFORE BOJ


The dollar and the euro were choppy, as both currencies pared back some of their recent outsized gains against the yen after a Japanese official this week expressed concerns about excessive yen weakness.


The yen is expected to remain on a weakening trend amid expectations for bolder BOJ monetary easing measures as part of the new government's push to drive Japan out of years of deflation and economic slump.


But markets were nervous about their short yen positions ahead of the Bank of Japan's January 21-22 policy meeting, with traders expecting the BOJ to adopt a 2 percent inflation target next week. Some market players say there could be selling in dollar/yen afterwards, based on "buy the rumor, sell the fact."


"The BOJ will probably disappoint to some degree. They'll deliver what the market expects but no more than that," said Gareth Berry, G10 FX strategist for UBS in Singapore.


Japan's benchmark Nikkei average <.n225> closed up 0.1 percent, after tumbling 2.6 percent for its largest daily decline in eight months on Wednesday. <.t/>


The dollar rose 0.4 percent to 88.71 yen, off its peak since June 2010 of 89.67 touched on Monday, while the euro gained 0.4 percent to 117.95 yen, after surging to its highest since May 2011 of 120.13 yen on Monday.


COMMODITIES SEEN RISING


While investor concerns remain about the global economy, the relatively better risk environment is seen benefiting commodities, but instability in the Middle East and Africa and tensions between Japan and China could undermine sentiment.


"Investment focus for 2013 is shifting to economically sensitive areas as global recovery takes place, boosting commodities prices," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory.


The rally in platinum to 3-month highs this week, regaining its premium over gold for the first time since March 2012, is an indication of risk positive tone, he said.


Brent futures slipped on Thursday as signs of a weakening global economic outlook revived demand worries, but the contract stayed above $109 a barrel on supply concerns after Islamist militants attacked an Algerian gas field.


(Additional reporting by Clement Tan in Hong Kong and Masayuki Kitano in Singapore; Editing by Shri Navaratnam)



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Bomb Strikes Disputed Iraqi City of Kirkuk







BAGHDAD (AP) — A powerful suicide car bomb struck the local headquarters for the party of a key Kurdish leader early Wednesday in the disputed Iraqi city of Kirkuk, killing at least four and wounding dozens, according to officials.




The blast outside the offices of the Kurdistan Democratic Party caused widespread damage, mangling cars and tearing apart storefronts. The KDP is led by Massoud Barzani, the president of Iraq's largely autonomous Kurdish region, who has frequently sparred with Iraq's central governor in Baghdad.


Kirkuk provincial council chairman Hassan Torhan said 90 people have been wounded, suggesting the death toll could rise.


The blast comes amid rising tensions along Iraq's ethnic and sectarian divide.


Kirkuk, 290 kilometers (180 miles) north of Baghdad, is home to a mix of Arabs, Kurds and Turkomen, who all have competing claims to the oil-rich area. The Kurds want to incorporate it into their self-ruled region in Iraq's north, but Arabs and Turkomen are opposed.


The city is at the heart of a snaking swath of territory disputed between the Kurds, who have their own armed fighting force, and Iraq's central government. A shootout in another area along the contested area prompted both sides to rush troops and heavy weapons to the area in November.


Violence has fallen since the peak of insurgency several years ago, but lethal attacks still occur frequently.


There was no immediate claim of responsibility for Tuesday's attacks, but car bombs are the hallmark of Sunni insurgents such as al-Qaida in Iraq.


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Apple scoops PBS on “Downton Abbey” episodes, but PBS is cool with it






NEW YORK (TheWrap.com) – Apple is making the entire third season of “Downton Abbey” available on iTunes before every episode airs on PBS – and that’s just fine with PBS.


Fans who buy a season pass on iTunes beginning January 29 will get to see three episodes before they air on PBS. The Season 3 finale airs February 17.






But PBS CEO Paula Kerger isn’t worried that viewers will watch the show online, then tune out PBS. In fact, she says, Apple isn’t the only place Americans can see “Downton” before they can see it on her network.


“You can also buy the DVD sets. They’re being shipped at the end of January, and the DVD sets and Apple are going up at the same time,” Kerger told TheWrap. “I think that for people who are really passionate and want to have it, it’s a great thing.”


Kerger says she hopes more viewers will discover “Downton” on whatever format they like best – and then watch it on PBS next season.


“At the end of the day, my interest is just in seeing it get to the widest possible audience, and there are people that would pick it up on Apple that may not pick it up anywhere else,” she said.


The first episode of the third season premiered to a record 7.9 million viewers earlier this month. Many of those viewers, no doubt, caught up on the previous seasons online or through DVD viewing.


“Downton” airs in the U.K. in the fall but on PBS in January, which means PBS viewers must shield themselves from spoilers. That has led to some grumbling from American fans.


But Kerger said airing the show in January allows the show to get more attention domestically than it might otherwise receive in the crowded fall season.


Internet News Headlines – Yahoo! News





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It's a Boy for Elton John




Celebrity Baby Blog





01/15/2013 at 10:00 PM ET



Elton John Welcomes Second Child
George Pimentel/WireImage


Elton John is a father again!


The musician and David Furnish welcomed their second child, son Elijah Joseph Daniel Furnish-John, via surrogate on Friday, Jan. 11 in Los Angeles, the couple confirm to HELLO.


Born at 6:40 p.m., Elijah weighed in at 8 lbs., 4 oz.


John and Furnish, who married in 2005, are already parents to son Zachary Jackson Levon, 2.


“Both of us have longed to have children, but the reality that we now have two sons is almost unbelievable. The birth of our second son completes our family in a most precious and perfect way,” the couple say in a statement.


“It is difficult to fully express how we are feeling at this time; we are just overwhelmed with happiness and excitement.”


John, 65, has been open about his desire to expand their family.


“I know when he goes to school there’s going to be an awful lot of pressure, and I know he’s going to have people saying, ‘You don’t have a mummy,’” says the singer-songwriter of his decision to have another baby.


“It’s going to happen. We talked about it before we had him. I want someone to be at his side and back him up. We shall see.”


– Sarah Michaud


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Risk to all ages: 100 kids die of flu each year


NEW YORK (AP) — How bad is this flu season, exactly? Look to the children.


Twenty flu-related deaths have been reported in kids so far this winter, one of the worst tolls this early in the year since the government started keeping track in 2004.


But while such a tally is tragic, that does not mean this year will turn out to be unusually bad. Roughly 100 children die in an average flu season, and it's not yet clear the nation will reach that total.


The deaths this year have included a 6-year-old girl in Maine, a 15-year Michigan student who loved robotics, and 6-foot-4 Texas high school senior Max Schwolert, who grew sick in Wisconsin while visiting his grandparents for the holidays.


"He was kind of a gentle giant" whose death has had a huge impact on his hometown of Flower Mound, said Phil Schwolert, the Texas boy's uncle.


Health officials only started tracking pediatric flu deaths nine years ago, after media reports called attention to children's deaths. That was in 2003-04 when the primary flu germ was the same dangerous flu bug as the one dominating this year. It also was an earlier than normal flu season.


The government ultimately received reports of 153 flu-related deaths in children, from 40 states, and most of them had occurred by the beginning of January. But the reporting was scattershot. So in October 2004, the government started requiring all states to report flu-related deaths in kids.


Other things changed, most notably a broad expansion of who should get flu shots. During the terrible 2003-04 season, flu shots were only advised for children ages 6 months to 2 years.


That didn't help 4-year-old Amanda Kanowitz, who one day in late February 2004 came home from preschool with a cough and died less than three days later. Amanda was found dead in her bed that terrible Monday morning, by her mother.


"The worst day of our lives," said her father, Richard Kanowitz, a Manhattan attorney who went on to found a vaccine-promoting group called Families Fighting Flu.


The Centers for Disease Control and Prevention gradually expanded its flu shot guidance, and by 2008 all kids 6 months and older were urged to get the vaccine. As a result, the vaccination rate for kids grew from under 10 percent back then to around 40 percent today.


Flu vaccine is also much more plentiful. Roughly 130 million doses have been distributed this season, compared to 83 million back then. Public education seems to be better, too, Kanowitz observed.


The last unusually bad flu season for children, was 2009-10 — the year of the new swine flu, which hit young people especially hard. As of early January 2010, 236 flu-related deaths of kids had been reported since the previous August.


It's been difficult to compare the current flu season to those of other winters because this one started about a month earlier than usual.


Look at it this way: The nation is currently about five weeks into flu season, as measured by the first time flu case reports cross above a certain threshold. Two years ago, the nation wasn't five weeks into its flu season until early February, and at that point there were 30 pediatric flu deaths — or 10 more than have been reported at about the same point this year. That suggests that when the dust settles, this season may not be as bad as the one only two years ago.


But for some families, it will be remembered as the worst ever.


In Maine, 6-year-old Avery Lane — a first-grader in Benton who had recently received student-of-the-week honors — died in December following a case of the flu, according to press reports. She was Maine's first pediatric flu death in about two years, a Maine health official said.


In Michigan, 15-year-old Joshua Polehna died two weeks ago after suffering flu-like symptoms. The Lake Fenton High School student was the state's fourth pediatric flu death this year, according to published reports.


And in Texas, the town of Flower Mound mourned Schwolert, a healthy, lanky 17-year-old who loved to golf and taught Sunday school at the church where his father was a youth pastor.


Late last month, he and his family drove 16 hours to spend the holidays with his grandparents in Amery, Wis., a small town near the Minnesota state line. Max felt fluish on Christmas Eve, seemed better the next morning but grew worse that night. The family decided to postpone the drive home and took him to a local hospital. He was transferred to a medical center in St. Paul, Minn., where he died on Dec. 29.


He'd been accepted to Oklahoma State University before the Christmas trip. And an acceptance letter from the University of Minnesota arrived in Texas while Max was sick in Minnesota, his uncle said.


Nearly 1,400 people attended a memorial service for Max two weeks ago in Texas.


"He exuded care and love for other people," Phil Schwolert said.


"The bottom line is take care of your kids, be close to your kids," he said.


On average, an estimated 24,000 Americans die each flu season, according to the Centers for Disease Control and Prevention. People who are elderly and with certain chronic health conditions are generally at greatest risk from flu and its complications.


The current vaccine is about 60 percent effective, and is considered the best protection available. Max Schwolert had not been vaccinated, nor had the majority of the other pediatric deaths.


Even if kids are vaccinated, parents should be watchful for unusually severe symptoms, said Lyn Finelli of the CDC.


"If they have influenza-like illness and are lethargic, or not eating, or look punky — or if a parent's intuition is the kid doesn't look right and they're alarmed — they need to call the doctor and take them to the doctor," she advised.


___


CDC advice on kids: http://www.cdc.gov/flu/protect/children.htm


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