Michelle Obama wears bangs, Krakoff to swearing-in






WASHINGTON (AP) — Michelle Obama showed off her new bangs and a royal blue dress and cardigan by American designer Reed Krakoff at Sunday’s swearing-in ceremony.


The first lady and daughter Malia matched President Barack Obama‘s blue suit, also complementing the Blue Room of the White House, where the small ceremony took place. Younger daughter Sasha, however, went her own way: She wore a lacy pink dress with a gold, wide-width, high-waisted belt — a style her mother helped popularize — and gold shoes.






It’s not the first time Mrs. Obama chose a design by Krakoff. She previously has worn a gown and jacket by the designer, who also is the president and executive creative director of Coach, Inc. She has carried one of his tote bags, too.


Her hairdo, however, is a change — and it has been the subject of online chatter since its debut on Thursday in a photo taken at the White House.


Entertainment News Headlines – Yahoo! News





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European shares test two-year highs, yen volatile before BOJ






LONDON (Reuters) – European shares inched towards two-year highs and German Bund futures dipped on Monday, as a political attempt to break a budget impasse in the United States revived appetite for shares and dented appetite for safe-haven assets.


U.S. House Republican leaders said on Friday they would seek to pass a three-month extension of federal borrowing authority in the coming days to buy time for the Democrat-controlled Senate to pass a plan to shrink budget deficits.






European shares <.fteu3> were supported by the news <.eu>, but with no clear response from the Democrats and a thin session expected due to a market holiday in the United States, the impact on other assets such as Bunds is likely to be limited.</.eu></.fteu3>


London’s FTSE 100 <.ftse>, Paris’s CAC-40 <.fchi> and Frankfurt’s DAX <.gdaxi> opened between 0.4 and 0.5 percent higher, lifting the pan-European FTSEurofirst 300 0.3 percent and MSCI’s world index 0.1 percent. <.l><.eu></.eu></.l></.gdaxi></.fchi></.ftse>


“There’s a bit of encouragement coming out of the U.S.,” said Toby Campbell-Gray, head of trading at Tavira Securities in Monaco.


He added that equity markets had remained resilient in the face of an uncertain economic outlook as many investors had stepped in to buy “on the dip” on days when shares had fallen.


Ahead of the region’s first finance ministers’ meeting of the year the euro was steady against the dollar, while the yen firmed after touching a new low, ahead of a Bank of Japan decision expected to deliver bold monetary easing.


The dollar slipped back to a low of 89.42 yen and was last trading at 89.57 yen, while the euro also fell to a low of 119.08 and last traded at 119.27 yen.


With little in the way of economic data or debt issuance and U.S. markets shut for the Martin Luther King Jr. public holiday, it was expected to be a fairly quite market day.


Oil prices took their cues from a report in the United States at the end of last week that showed consumer sentiment at its weakest in a year as a result of the uncertainty surrounding the country’s debt crisis.


Concerns about demand overshadowed supply disruption fears reinforced by the Islamist militant attack and hostage-taking at a gas plant in Algeria, a member of the Organization of Petroleum Exporting Countries.


U.S. crude futures fell 0.5 percent to $ 95.08 a barrel, while Brent fell 0.3 percent to $ 111.55 early on Monday but had recovered to almost flat as European trading gathered pace.


(Additional reporting by Sudip Kar-Gupta; Editing by Will Waterman)


Business News Headlines – Yahoo! News





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Give Your Driveway the Red Carpet Feel!






LONDON, UNITED KINGDOM–(Marketwire – Jan 21, 2013) – Looking to give your home and garden that certain ”je ne sais quoi” but aren”t sure where to find it? Well look no further, as Bradstone have the answer for you! Thanks to their collection of stylish driveway paving, this structural supplier can now give YOUR home that touch of character you”ve been searching for. Giving your driveway the personal touch not only treats it to a much needed makeover, but it will also make your house stand out of the crowd. Interested? Here”s how you can achieve it!


Which driveway is for you?






Bradstone offer a fantastic selection of high quality driveway products; all that”s left to do is to choose the best one for you…


  • Stonemaster Paving- demonstrating a sawn sandstone or granite look, these paving slabs are so realistic that they are often mistaken for the material itself. What”s more, Stonemaster is also very versatile! Whether you”re aiming for a random design, or a more uniform style of paving, the Stonemaster can master it all. 

  • Woburn Cobble Paving- if you”re looking for that added charm to your household, then Woburn Cobble can definitely give you that ”wow factor.” Existing as one of the more popular paving solutions, the Woburn Cobble design is weathered in appearance, but attracts customers because of its ”homely feel.” It”s also available in four different complementary shades; what”s not to love?

  • Driveflair Paving- searching for a driveway with extra glamour? Then Driveflair could be the one for you! As the name suggests, this paving holds an element of style which will make your home and garden the envy of all your neighbours. With a mix and match range to choose from, this paving will provide you with a fantastic look for years to come thanks to its textured surface finish.

  • Traditional Paving- if you”re less inclined to contemporary designs then there is always the Traditional paving to keep you company. With its subtle shades and ranges of size, this is perfect for any home, so bear it in mind if you”re after a change.

This is just a snippet of the vast choices available from Bradstone, so if you fancy sprucing up your driveway, then get looking now!


Notes to Editors


  • Bradstone is an Aggregate Industries business and a leader in the manufacture and supply of domestic paving, walling, edging, decorative stone and driveway products

  • All Bradstone”s products are available nationally through a large number of DIY stores, builder”s merchants and independent merchants

Marketwire News Archive – Yahoo! Finance





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European shares test two-year highs, yen volatile before BOJ

LONDON (Reuters) - European shares inched towards two-year highs and German Bund futures dipped on Monday, as a political attempt to break a budget impasse in the United States revived appetite for shares and dented appetite for safe-haven assets.


U.S. House Republican leaders said on Friday they would seek to pass a three-month extension of federal borrowing authority in the coming days to buy time for the Democrat-controlled Senate to pass a plan to shrink budget deficits.


European shares <.fteu3> were supported by the news <.eu>, but with no clear response from the Democrats and a thin session expected due to a market holiday in the United States, the impact on other assets such as Bunds is likely to be limited.


London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> opened between 0.4 and 0.5 percent higher, lifting the pan-European FTSEurofirst 300 0.3 percent and MSCI's world index 0.1 percent. <.l><.eu/>


"There's a bit of encouragement coming out of the U.S.," said Toby Campbell-Gray, head of trading at Tavira Securities in Monaco.


He added that equity markets had remained resilient in the face of an uncertain economic outlook as many investors had stepped in to buy "on the dip" on days when shares had fallen.


Ahead of the region's first finance ministers' meeting of the year the euro was steady against the dollar, while the yen firmed after touching a new low, ahead of a Bank of Japan decision expected to deliver bold monetary easing.


The dollar slipped back to a low of 89.42 yen and was last trading at 89.57 yen, while the euro also fell to a low of 119.08 and last traded at 119.27 yen.


With little in the way of economic data or debt issuance and U.S. markets shut for the Martin Luther King Jr. public holiday, it was expected to be a fairly quite market day.


Oil prices took their cues from a report in the United States at the end of last week that showed consumer sentiment at its weakest in a year as a result of the uncertainty surrounding the country's debt crisis.


Concerns about demand overshadowed supply disruption fears reinforced by the Islamist militant attack and hostage-taking at a gas plant in Algeria, a member of the Organization of Petroleum Exporting Countries.


U.S. crude futures fell 0.5 percent to $95.08 a barrel, while Brent fell 0.3 percent to $111.55 early on Monday but had recovered to almost flat as European trading gathered pace.


(Additional reporting by Sudip Kar-Gupta; Editing by Will Waterman)



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Baseball reflects on HOF pair Weaver, Musial


One was born in St. Louis, the other became a star there.


Aside from that, Earl Weaver and Stan Musial were about as different as two Hall of Famers could be.


"Talk about your odd couple," said George Vecsey, the longtime sports columnist for The New York Times who wrote a recent biography of Musial.


Weaver was a 5-foot-6 rabble rouser whose penchant for quarreling with umpires belied a cerebral approach to managing that has stood the test of time. Musial was a humble slugger with a funky batting stance who was beloved by Cardinals fans and respected by pretty much everyone else.


Saturday began with news of Weaver's death at age 82, and by the end of the night Musial had died, too, leaving baseball to reflect on two distinguished careers rich in contrasts.


"Earl was well known for being one of the game's most colorful characters with a memorable wit, but he was also amongst its most loyal," Commissioner Bud Selig said.


Selig later released a statement after Musial's death at age 92.


"Stan's life embodies baseball's unparalleled history and why this game is the national pastime. As remarkable as 'Stan the Man' was on the field, he was a true gentleman in life," Selig said.


A three-time MVP and seven-time National League batting champion, Musial helped the Cardinals win three World Series championships in the 1940s. His popularity in St. Louis can be measured by the not one, but two statues that stand in his honor outside Busch Stadium. After his death Saturday, Cardinals of more recent vintage began offering condolences almost immediately.


"Sad to hear about Stan the Man, it's an honor to wear the same uniform," said a message posted on the Twitter account of Cardinals outfielder Matt Holliday.


Albert Pujols, who led St. Louis to World Series titles in 2006 and 2011 before leaving as a free agent before last season, offered prayers for Musial's family via Twitter.


"I will cherish my friendship with Stan for as long as I live," said a message posted on Pujols' site. "Rest in Peace."


Weaver was born in St. Louis, but his greatest success came as a manager in Baltimore. He took the Orioles to the World Series four times, winning one title in 1970.


Never a fan of small-ball strategies like bunting and stealing bases, Weaver preferred to wait for a three-run homer, always hoping for a big inning that could break the game open.


"No one managed a ballclub or pitching staff better than Earl," said Davey Johnson, who played under Weaver with the Orioles.


Johnson now manages the Washington Nationals and ran the Orioles from 1996-97.


"He was decades ahead of his time," Johnson said. "Not a game goes by that I don't draw on something Earl did or said. I will miss him every day."


While Musial could let his bat do the talking, Weaver was more than willing to shout to be heard. His salty-tongued arguing with umpires will live on through YouTube, and Orioles programs sold at the old Memorial Stadium frequently featured photos of Weaver squabbling.


Former umpire Don Denkinger remembered a game in which the manager disputed a call with Larry McCoy at the plate.


"Earl tells us, 'Now I'm gonna show you how stupid you all are.' Earl goes down to first base and ejects the first base umpire. Then he goes to second base and ejects the second base umpire. I'm working third base and now he comes down and ejects me," Denkinger said.


Musial was a quieter type who spent his career far removed from the bright lights of places like New York and Boston. But his hitting exploits were certainly on par with contemporaries Joe DiMaggio and Ted Williams.


"I knew Stan very well. He used to take care of me at All-Star games, 24 of them," Hall of Famer Willie Mays said. "He was a true gentleman who understood the race thing and did all he could. Again, a true gentleman on and off the field — I never heard anybody say a bad word about him, ever."


Dave Anderson of The New York Times recalled growing up in Brooklyn, rooting for Musial. Those Dodgers crowds helped give Musial his nickname, Stan the Man.


"I thought he was going to knock the fence down in Brooklyn, he'd hit it so often," Anderson said.


Musial did it despite an odd left-handed stance — with his legs and knees close together, he would cock the bat near his ear and twist his body away from the pitcher before uncoiling when the ball came.


If that was a lasting snapshot of Musial, the images of Weaver will stay just as fresh — the feisty manager, perhaps with his hat turned backward, looking up at an umpire and screaming at him before kicking dirt somewhere and finally leaving the field.


None of those histrionics should obscure the fact that in the end, Weaver often had the last laugh — to the tune of a .583 career winning percentage.


"When you discuss our game's motivational masters, Earl is a part of that conversation," Hall of Fame President Jeff Idelson said. "He was a proven leader in the dugout and loved being a Hall of Famer. Though small in stature, he was a giant as a manager."


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Mali war turns musicians into military





























French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive


French-led Mali offensive





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STORY HIGHLIGHTS


  • Until recently, Mali was better known for its music, mosques and manuscripts than for conflict

  • Andy Morgan: Music and culture are Mali's shop-window to the world, its primary asset

  • Conflict turns musicians, artists and writers into frontline soldiers, says Morgan

  • Morgan: In Mali they're still singing, still writing, still fighting




Editor's note: Andy Morgan recently ended a seven-year stint as manager of Touareg rockers Tinariwen, leaving the music industry after 29 years to concentrate on writing. He has contributed features and reviews to The Independent, fRoots, Songlines, NME and Rolling Stone, and is currently working on books about the Sahara and West Africa.


(CNN) -- It's safe to assume that most people outside West Africa had never even heard of Mali until a few weeks ago. If they had, there's a good chance it was thanks to some beautifully flowing song or instrumental by one of the country's many world-renowned musicians: Salif Keita, Tinariwen, Oumou Sangare, Toumani Diabate, Rokia Traore... the list is long.


If it wasn't music then it might have been Mali's priceless medieval manuscripts that drew their attention, or its majestic mud-built mosques, its filmmakers, poets, photographers and writers.


Like Jamaica or Ireland, Mali's music and culture are its primary asset, its shop-window to the world, its "gold and cotton" as one famous musician put it.



Andy Morgan is a world music journalist and former manager of Touareg band Tinariwen.

Andy Morgan is a world music journalist and former manager of Touareg band Tinariwen.



Certainly, very few people would have included the words "Mali" and "Islamism" in the same sentence before April last year, when Islamist militia took control of over two thirds of the country and started amputating the hands of thieves, stoning adulterers and whipping women who happened to venture out into the streets 'improperly' dressed.


With the arrival of French forces and the mass hostage seizure at the Algerian oil facility of In Amenas, Mali and Islamism are two words that now appear not only to be inextricably linked but on the front page.


Six reasons why Mali matters








Of course, the association goes back much further than April 2012.


Al Qaeda and the Islamic Maghreb (AQIM) moved south from Algeria and into Mali's remote northern deserts over a decade ago. It proceeded to amass a fortune from kidnapping, smuggling and money laundering whilst undermining the local economy, disrupting social relations and destroying the local tourist industry.


It brought along a hardcore form of Islam inspired by Wahabism and a hatred of the West that was previously almost unheard of in Mali, a country which has long contented itself with gentler and more tolerant brands of Sufism richly tinted by local pre-Islamic beliefs.


AQIM also managed to hijack a rebellion against the central government in Bamako by the nomadic Touareg people of the north that had been grinding on and off for the best part of fifty years.


This conflict, which first erupted in 1963, was always about power, influence and the self-determination of a marginalized people. It was also about preserving the Touareg's unique Berber culture. It had never been about imposing hard line Islam on anyone. But from round 2006 onwards, Touareg nationalism and Islamic terrorism became inextricably confused with each other.


Why Africa backs French in Mali


Indeed, there's a widespread theory, confirmed by the word of just a few bit-players in the drama but lacking any more conclusive evidence, that certain parties who were utterly averse to the idea of an independent Touareg state -- the Malian government, Algeria and others -- either deliberately implanted AQIM in the region, or at the very least tolerated its presence there.


It was hoped that the strategy would attract military aid and doom the Touareg nationalist project to failure. The theory might seem strange given the damage that terrorism has wrought in both Mali and Algeria but most Touareg I know accept it as gospel. We'll probably never know the whole truth.








What's certain is that the Sahara is one of the hardest places on earth for an outsider to understand. Its interlocking cogs of power and influence -- geopolitical, regional, governmental, tribal, mineral, criminal, spiritual, clan and family -- are fiendishly complex.


No foreign intervention can hope to achieve any long-term benefits if it cannot get to grips with the underlying political and social mechanism of this vast region.


2011 brought the Arab Spring and the end of Muammar Gadhafi, who had long been a stabilizing force in the Sahel, and both a promoter and a hinderer of Touareg nationalist ambitious. His weapons arsenals were opened up to armed groups of every stripe and in January 2012, the Touareg used this opportunity to reignite their rebellion in northern Mali. But it was al Qaeda in the Islamic Maghreb who eventually took control, either directly or through a network of alliances.


Now Mali's hopes lie with the French, who intervened on Friday January 11, after months of diplomatic wrangling at the U.N. and elsewhere.


France 'not a pacifist nation'


So the world has a new front on the global war on terror and France has a new battle to fight in Africa.


Within northern Mali itself, however, and throughout the Muslim world, this is not seen as a war on terror but as a cultural conflict, one that pits a group of people who feel that the future of their society will be best served by rejecting Western liberal values and returning to the core tenets of Islam against another group who believe in religious tolerance, secularism, democracy and music.


This conflict turns musicians, artists and writers into frontline soldiers.


Saudi Arabia destroyed its mausoleums and silenced its musicians decades, even centuries, ago. In the Algerian civil war of the 1990s, many musicians, writers and cultural figures were killed, prompting others to flee overseas.


In Mali they're still singing, still writing, still fighting, for the time being at least.


In this new battleground in the cultural wars of the Muslim world, a distant mirror of the religious wars that shook Europe in the 15th and 16th centuries, Malian musicians are taking a stand. That's why music matters. That's why Mali matters.


The opinions expressed in this commentary are solely those of Andy Morgan.






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Ex-Discovery Exec Peter Liguori Named New Tribune CEO






NEW YORK (TheWrap.com) – Former Fox and Discovery executive Peter Liguori has been named the new CEO of Tribune Company.


In its first board of directors meeting since emerging from a bankruptcy, Tribune Co. also named investor Bruce Karsh as its chairman. The new Tribune board includes Ross Levinsohn, the former interim CEO of Yahoo who this week was named CEO of Prometheus, the parent company of the Hollywood Reporter.






Eddy Hartenstein, who had served as CEO of Tribune for the last 18 months, will stay with the company as publisher/CEO of the Los Angeles Times Media Group. He will remain on the company’s board and serve as a special adviser to Ligouri.


Liguori’s appointment had been long expected. Reuters reported in September that he was being eyed as the company’s new CEO.


Liguori gave interviews to the two largest Tribune papers, the Los Angeles Times and the Chicago Tribune. In his Times interview, he was asked if the papers could be sold.


“There are people interested in the newspapers,” he said. “It is my fiduciary responsibility to hear them out and see if in fact their interest is real and their commitment is concomitant with the value of these newspapers. But that runs parallel to my working with you guys on running the business on a day-to-day basis to maximize the value.”


Liguori became an operating executive at Carlyle, a private equity firm, in July. At the company, he provided guidance to the telecommunications and media team. He was also up for the post of entertainment and digital media president at Microsoft.


That job went in September to former CBS executive Nancy Tellem.


Liguori was previously chief operating officer of Discovery Communications, serving as the cable network’s No. 2 executive from 2009 to the end of 2011. He served as interim CEO of OWN beginning in May 2011, after the dismissal Christina Norman.


Within two months, Oprah Winfrey named herself CEO of OWN. In November, Liguori said he was leaving Discovery, and the company said no replacement would be named.


Prior to joining Discovery, he spent 13 years with Fox Entertainment, serving as president and then chairman of Entertainment for Fox Broadcasting Company from 2005 to 2009.


He was previously president and CEO of News Corp.’s FX Networks.


TV News Headlines – Yahoo! News





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Egypt’s foreign reserves rise after Qatar deposit






CAIRO (Reuters) – Egypt‘s foreign reserves have risen to $ 15.5 billion, helped by a deposit by Qatar to support the economy, its finance minister said, although they are still close to critical levels after being run down to defend Egypt’s currency.


The central bank put reserves at $ 15.015 billion at the end of December. It has implemented a new regime for buying and selling foreign currency and currency controls to try to stem a fall in reserves, which have tumbled from $ 36 billion before the uprising that toppled Hosni Mubarak in early 2011.






Finance Minister Al-Mursi Al-Sayed Hegazy told reporters about the new reserve figure on Saturday without giving further details about the deposit by Qatar, a generous donor to Egypt.


Qatar said earlier this month it had lent Egypt $ 2 billion and given it $ 500 million outright. It has pledged to stand by Egypt to help support the nation, which has been battered by political turmoil and violence that has scared away investors.


Hegazy said reserves should rise further in future after approval of a draft law allowing Egypt to issue sovereign Islamic bonds, known as sukuk. The draft law was passed by cabinet this week but needs the backing of the Islamist-led upper house of parliament.


The minister said in December that Qatar had deposited $ 500 million, although the reserve figure for that month was still around $ 15 billion, the same as at the end of November.


The central bank has said reserves have reached a critical level. At $ 15 billion, reserves cover roughly three months of imports.


Egypt has spent about $ 21 billion of its reserves since the start of 2011 when the uprising against Mubarak erupted, plus several billion dollars in additional aid and support from Qatar and other donors to defend the Egyptian pound.


Cairo is negotiating a $ 4.8 billion loan from the International Monetary Fund. After the deal was agreed in principle in November, it was delayed after Egypt postponed some unpopular tax rises viewed as needed to secure the IMF funds.


An IMF team is expected to return to Egypt in the coming weeks for fresh discussions.


Economy News Headlines – Yahoo! News





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Japan government, Bank of Japan “getting closer” on monetary policy statement






TOKYO (Reuters) – Japanese Economics Minister Akira Amari said on Sunday that the government and the Bank of Japan were getting closer to an agreement on a joint statement on monetary policy expected to be issued next week.


The government has been pressuring the BOJ to adopt a 2 percent inflation target and make job creation part of its monetary policy mandate.






“(A difference between )the government and the BOJ is narrowing about the contents of the joint statement, but I can not disclose details,” Amari told public broadcaster NHK.


“It is obviously necessary to share common policy goals between the government and the BOJ and strengthen cooperation.”


Amari said it was important to try to beat deflation by setting up inflation goals.


Sources familiar with the BOJ’s thinking told Reuters that the government and the BOJ had agreed to set 2 percent inflation as a new target at its next rate review on January 21-22, when the central bank will also consider making an open-ended commitment to buy assets until the target is in sight.


Amari also said the joint statement would likely not include the phrase “long-term” to describe the timeline for achieving the inflation target.


(Reporting by Kaori Kaneko and Yuko Yoshikawa; Editing by Nick Macfie)


Business & Finance News – Yahoo! Finance




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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.


The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.


Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.


Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.


"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.


Major technology companies also report next week, but the bar for the sector has been lowered even further.


Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.


Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.


Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.


CASH POURING IN, HOUSING DATA COULD HELP


Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.


The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.


"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."


Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.


Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.


The new home sales report on Friday is expected to show a 2.1 percent increase.


The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.


Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.


The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.


"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.


"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."


(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)



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