Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.

The S&P 500 also posted a sixth straight week of gains for the first time since August.

The technology sector led the day's gains, with the S&P 500 technology index <.splrct> up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.

Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.

AOL Inc shares rose 7.4 percent to $33.72 after the online company reported higher quarterly profit, boosted by a 13 percent rise in advertising sales.

Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.

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

Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.

The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.

"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.

The Dow Jones industrial average <.dji> ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index <.spx> was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index <.ixic> was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.

For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.

Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.

Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.

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

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

Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.

Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.

The CBOE Volatility index <.vix>, Wall Street's so-called fear gauge, was down 3.6 percent at 13.02. The gauge, a key measure of market expectations of short-term volatility, generally moves inversely to the S&P 500.

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

Volume was roughly 5.6 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 nearly 2 to 1 and on the Nasdaq by almost 5 to 3.

(Additional reporting by Angela Moon; Editing by Bernadette Baum, Nick Zieminski, Kenneth Barry and Andrew Hay)

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Norway's Svindal wins downhill at Alpine worlds

SCHLADMING, Austria (AP) — Aksel Lund Svindal of Norway won the men's downhill title at the Alpine skiing world championships Saturday after a powerful run down the Planai course that no one came close to matching.

Watched by 33,000 spectators, Svindal kept a near-perfect line down the icy and bumpy 3.33-kilometer course despite foggy conditions that caused problems for several other skiers.

The Norwegian finished in 2 minutes, 1.32 seconds to win by nearly half a second and secure his second world downhill title, after also winning the marquee event in 2007. It was his fifth world title overall, to go with an Olympic gold in super-G.

Dominik Paris of Italy, who leads this season's World Cup downhill standings, trailed Svindal by 0.46 in second. David Poisson of France finished third, 0.97 behind.

"I knew I could not have skied better here," said Svindal, who raised both arms in the air and shouted out in celebration immediately after his run. "I took a lot of risks. It was a tough race. Visibility wasn't good and the course was difficult. At the finish, I was exhausted, in my head as well."

The rest of the field, led by Klaus Kroell of Austria in fourth, finished more than a second off Svindal's winning time.

The Norwegian had to settle for bronze in Wednesday's super-G, a discipline he has dominated on the World Cup this season, and said that gave him extra motivation for the downhill.

"Winning bronze was nice but I was also a bit frustrated," Svindal said. "I really pushed hard today and avoided major mistakes."

He was about the only one to do so, as most of his rivals struggled to maintain their racing line on the turning and icy bottom section.

The low final right turn seemed to cause the most problems, as many skiers had to slow down to make the final gate before the finish.

Andreas Romar of Finland, who started seventh, became the first to master that section flawlessly and was in the lead until Poisson came down.

When it was Svindal's turn, the Norwegian stretched his lead at every split time and was also near-perfect in the finish section.

Paris, who won the downhill races in Bormio and Kitzbuehel this season, lost time to the Norwegian toward the end but said he had "a great race."

"I tried to go for a medal but I didn't think I could do it," Paris said. "I saved energy in the upper part because I knew I needed it for that difficult finish section."

Poisson had never been on the podium on the World Cup or at a major championship before earning France a second medal this week, following Gauthier De Tessieres' silver in the super-G.

"This is really perfect. Gauthier started the week well for us," Poisson said. "I am proud of my run, I was fast and I went to my limits."

Kroell's fourth place left the home nation without a gold medal in a speed event of any major championship since the 2003 worlds, when Michael Walchhofer won the downhill and Stephan Eberharter the super-G.

Walchhofer's silver medal at the 2006 Turin Olympics downhill was the last speed medal for Austria.

"I am very disappointed," said Kroell, last season's World Cup downhill champion. "I had a big mistake early on and I didn't find my flow because of all the bumps. I just couldn't keep the line."

The women's downhill is Sunday.

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Megadunes and Hoar Frost: 6 Facts About Snow

Winter snowstorms, like the Nor’easter that just slammed New England, transform gray days into winter wonderlands.

So while you’re stuck inside, or within snowshoe-walking distance, here are six fun facts about snow, from the idea that no two snowflakes are alike to the bizarre megadunes that blanket Antarctica.

Unique beauty

According to physicists, it’s actually true that no two snowflakes are alike — well, at least when it comes to complex snowflakes.

Snowflakes form when water droplets in the clouds freeze to form a six-sided crystal structure. As the temperature cools, more water vapor freezes and grows in branches from the six sides of the seed crystal. As the crystals form, they are randomly tossed about inside the clouds, which vary in temperature.

The temperature greatly affects how the snowflake forms, so while the simplest hexagonal crystals may look alike, more complicated beauties each have their own unique shapes. [See Stunning Photos of Snowflakes]

White triangles

Most snowflakes form dazzling crystal patterns with six sides. But occasionally, a triangular crystal forms, something that has puzzled physicists for years. A 2009 study in the open-access, pre-publish journal arXiv.org revealed that triangular snowflakes form when the six sides of the seed crystals are slightly asymmetric. This makes them wobble randomly as a snowflake falls, allowing the bigger sides to hit the fast-flowing air inside the cloud, and grow at the expense of the smaller sides.

Other snowflakes have even stranger shapes: Some look like hourglasses, others like spools of thread and still others like needles. And while the quintessential snowflake is the six-armed, symmetrical beauty, most versions are hardly so picturesque. In fact, since the arms of a snowflake all grow randomly, asymmetrical snowflakes are more common.

Snowy shapes

The types of snowflakes that form depend a lot on the temperature and moisture in the clouds, according to a 2005 review in the journal Reports on Progress in Physics. Right around freezing temperatures, hexagonal plates (the cross-section is a two-dimensional hexagon) and the iconic, six-sided snowflake (known as a dendrite) form.

As the temperature cools, snowflakes develop into needles, then hexagonal prisms and even hollow columns. Go colder still, and dendrites form at much larger sizes. And at truly frigid temperatures, the frigid air forms prisms and flat plates.

Piles and piles

Because snow is so fluffy (meaning it’s chock full of air), a relatively small amount of water can translate into a huge pile of snow. An inch of rain on average makes about 10 inches of snow. The biggest snowfalls on record are hard to compare, but the Great Snow of 1717 dropped about 3 to 4 feet (0.9 to 1.2 meters) on Boston inhabitants, with some drifts reaching 25 feet (7.6-m), according to the National Snow and Ice Data Center.

In 1959, a snowstorm in Mt. Shasta dropped as much as 15.75 feet (4.8 meters) on inhabitants of the California region, according to the College of the Siskiyous. In the 1998 to 1999 snow season, about 95 feet (28.9 m) of snow fell on Mt. Baker, Wash.

Graupel and Hoar Frost?

An old saying claims the Eskimos have dozens of different words for describing snow. While that turned out to be a myth, there are many types of snow crystals and even more snow formations. Aside from the snowflake, there’s also hoar frost and graupel, according to the National Snow and Ice Data Center.

Hoar frost forms on surfaces that are colder than the frost point in the air around them, so water goes straight from vapor to solid. This spiky, fluffy snow tends to form on tree branches, telephone wires and other skinny items exposed to the chilly air. Graupel, which consists of hard ice pellets, forms when snowflakes fall through a cloud that contains supercooled water droplets. The droplets freeze onto the snowflakes and form misshapen, lumpy balls.

Snow landscape

While the snow on the driveway may just be a pile, the fluffy white stuff creates beautiful formations in nature. Lovers of winter sports know to be wary of cornices, overhanging snow that juts from the edge of a cliff.

And in Antarctica, giant snow formations known as megadunes form from monstrous snow crystals that are up to 0.75 inches (2 cm) across, according to the National Snow and Ice Data Center. (There can be several snow crystals in a single snowflake.) In arid locales like Death Valley, Calif., piles of snow can be transformed into penitents: bizarre, spiky formations that look like the stalagmites that form in caves.

Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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How Obama can end Congo conflict

Conflict in Congo

Conflict in Congo

Conflict in Congo

Conflict in Congo

Conflict in Congo

STORY HIGHLIGHTS

• President Obama can help end the Congo conflict for good, says Vava Tampa


• Obama has asked Rwanda to end all support to armed groups in the Congo


• FDLR militia gang is a threat to stability and must leave Congo


• Obama must push for change in Congolese government, argues Tampa

Editor's note: Vava Tampa is the founder of Save the Congo, a London-based campaign to tackle "the impunity, insecurity, institutional failure and the international trade of minerals funding the wars in Democratic Republic of the Congo." Follow Vava Tampa on twitter: @VavaTampa

(CNN) -- Now that President Obama has taken a public stand on the warlords and militia gangs tyrannizing DR Congo, there is a sense that the next chapter in the human tragedy that has been raging there over the past decade and half is about to be written -- or so we can hope.

In the DRC -- Africa's largest sub-Saharan country -- invasions, proxy wars and humanitarian crises have senselessly shut down millions of lives, displaced millions more from their homes and left countless women and young girls brutally raped with the world barely raising an eyebrow.

The latest murderous attempt by the M23 militia gang to besiege Goma, the strategic regional capital of Congo's eastern province of North Kivu, seems to have backfired.

Vava Tampa

The United Nations says Rwanda has helped to create and militarily supported M23. Although Rwandan President Paul Kagame denies backing M23, the accusation has taken off some of the international gloss he had long enjoyed in the West, and precipitated cuts and suspension of aid money that goes directly to the Kagame regime by the Netherlands, Sweden, Germany, Britain and the European Union.

The United States, which gives no money directly to the Rwandan government, suspended its military aid. In a baffling expression of a refinement of the U.S. position, President Obama made a rare telephone call to Kagame to emphasize "the importance of permanently ending all support to armed groups in the DRC." That set a firm red line on the situation in that region, the first one by President Obama since becoming president in 2008.

Watch video: Kagame on Congo

This was certainly right and good. Kagame is no fool; the diplomatic but emphatic content of that telephone call, monitored by White House's National Security staff and published thereafter for public consumption, speaks volumes. He clearly understood the implicit threat. But it was not good enough.

Left unsaid is that withholding aid money that goes directly to the Kagame regime has not changed many realities on the ground -- a painful reminder of the limits of what previous half-hearted, ambivalent international attempts to halt the crisis in that country had achieved.

However, the situation is not hopeless. President Obama can help to halt the wars engulfing the Congo. It is both economically and politically affordable.

Here is my suggestion -- a three-point road map, if you like, for President Obama, should he choose to put the weight of the United States squarely on the side of the Congolese and engage much more robustly to help end the world's bloodiest war and human tragedy.

Read more: Why the world is ignoring Congo war

1. Changes in Kinshasa

If we are to be blunt with ourselves, Congo's major problem today -- the chief reason that country remains on its knees -- is its president Joseph Kabila. Paul Kagame is just a symptom, at least in theory.

The crisis of leadership in the capital Kinshasa, the disastrous blend of lack of political legitimacy and moral authority, mixed with poor governance and vision deficiency, then compounded with dilapidated state institutions, has become the common denominator to the ills and wrongs that continues to overwhelm the Congo.

In other words, peace will never be secured in Congo, if the moribund status quo is still strutting around Kinshasa.

Obama's minimum objective in regard to ending the wars and human tragedy engulfing the Congo should be to push for changes in Kinshasa. He must make this one of the "10 Commandments" of the Obama Doctrine.

Circumstances demand it to re-energize Congo's chance of success and to enable the renaissance of a "New Africa." And given the effects of Congo's mounting death toll and the speed at which HIV/AIDS is spreading because of the use of rape as a weapon of war, the sooner the better.

2. Keep Kagame in the naughty corner

The wars and human tragedy engulfing the Congo have many fathers and many layers. Rwanda, and to some extent Uganda -- run by Africa's two dearest autocratic but staunchly pro-American regimes -- are, as they have been many times in the past, despite their denials, continuing to provide support to warlords and militia gangs terrorizing the Congolese people.

This is not an apocryphal claim, it's an open secret in Kinshasa, Kampala and Kigali as much as it is in Washington or White Hall, and as real as Charles Taylor's role in Sierra Leone or Iran's support to Hezbollah.

If President Obama is remotely serious about saving lives in Congo, then fracturing Rwanda's ability to directly or indirectly harbor warlords ... is critical.
Vava Tampa, Save the Congo

Indeed, reporters across Congo and across the region would testify to this. Kigali has been, one can safely argue, the sole shareholder in the M23 militia gang -- and its elder sisters CNDP and RCD-Goma.

It cannot wash its hands in Pontius Pilate fashion of either the ICC-wanted M23 warlord Bosco Ntaganda, also known as The Terminator, or Laurent Nkunda, who is wanted by the Congolese government for war crimes and is under house arrest in Kigali.

Read more: Prosecutor seeks new Congo war crimes warrants

If President Obama is remotely serious about saving lives in Congo, then fracturing Rwanda's ability to directly or indirectly harbor warlords, support militia gangs, militarize or ethnicize the wars in Congo for control of Congo's easily appropriable but highly valuable natural resources is critical, however politically disgruntling it may be to some in the State Department.

It would reduce the scale, scope and intensity of the killing, raping and uprooting of the Congolese, it would crush Kinshasa's ability to use external support to warlords and militia gangs as an alibi for a lack of progress and, above all, decrease the growing unease of the Congolese towards Rwanda over the crimes of FDLR and the role played by their government in Congo.

3. FDLR

The continued existence in Congo of FDLR, a Rwandan militia gang made up largely of Hutus -- whose leadership took part in the 1994 genocide of Tutsi -- remains one of the most persistent and serious threats to stability in Congo and the region.

Addressing this crisis is of significant importance from both a political and humanitarian viewpoint.

Though there are no definitive statistics on the exact numbers of FDLR fighters, the good news is that experts tell us that the vast majority of its rank and file are in their 20s and early 30s, which means they were too young to have taken part in the genocide in 1994.

The United States, together with the U.N., the EU and African Union, should appoint a special envoy for the African Great Lakes region to midwife a conducive political arrangement in Kigali that could see them returning home -- and see their leaders and fundraisers in Europe arrested.

The opinions expressed in this commentary are solely those of Vava Tampa.

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Michelle Obama expected at Hadiya Pendleton funeral today

First lady Michelle Obama is expected to attend Hadiya Pendleton’s funeral this morning at Greater Harvest Baptist Church in the Washington Park neighborhood, about two miles from where the 15-year-old girl was gunned down last month.

Hadiya was a majorette for King College Prep's band and performed during President Barack Obama's inauguration festivities just days before she was slain, shot in the back while hanging out with friends at a North Kenwood neighborhood park.

The shooter was after someone else, police said. No one is in custody.

Michelle Obama's plan to come to the funeral puts Chicago solidly in the middle of a national debate over gun violence that has polarized Congress and forced President Obama to take his gun control initiatives on the road to garner more public support.

The first lady's visit is being seen not only as a gesture of condolence to the family but as part of an effort to draw attention and support for the president's gun initiatives.

As of 7 a.m. there were already about ten people lined up outside the church, 5141 S. State St.

A hearse arrived shortly before 8 a.m. with a police escort.

Uniformed Secret Service officers, before the arrival of the 15-year-old's body, were moving people through metal detectors, though the public won't be allowed in for about an hour. 

Media and a select few others are using a separate entrance, also manned by uniformed Secret Service officers. 

City and Secret Service officers' K-9 unit dogs sniffed through camera bags before camera crews were allowed inside. 

The church is surrounded by an iron fence and all of the openings -- a pedestrian gate in the front, front and side doors to the church, and a driveway to the north  -- are guarded by city police or men in white shirts, ties and long black coats.

The early arrivals were being held outside the gate while security officers move portable barriers toward the front entrance.

Chicago police vehicles - two wagons, a handful of squads and SUVs - are guarding the outside of the church. Two more vehicles are circling the block.

Chicago police staffing the event are wearing dress blues -- a blue overcoat with pockets that allow access to the duty belt, creased navy pants, and a hat.

To the south of the church is a child-parent center and behind it, a boarded up three-story brick apartment building.

chicagobreaking@tribune.com
Twitter: @chicagobreaking 

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Protests erupt as India executes man for 2001 parliament attack

NEW DELHI (Reuters) - India hanged a Kashmiri man on Saturday for an attack on the country's parliament in 2001, sparking clashes in Kashmir between protesters and police who wielded batons and fired teargas. Dozens of people were injured.

President Pranab Mukherjee rejected a mercy petition from Mohammad Afzal Guru and he was hanged at 8 a.m. (0230 GMT) in Tihar jail in the capital, New Delhi. Security forces anticipating unrest had imposed a curfew in parts of insurgency-torn Kashmir and ordered people off the streets.

Guru, from the Indian part of divided Kashmir, was convicted of helping organize arms for the gunmen who made the attack and a place for them to stay. He always maintained his innocence.

India blamed the attack on the parliament of the world's largest democracy on militants backed by Pakistan, targeting the prime minister, interior minister and legislators in one of the country's worst ever militant attacks.

Pakistan denied any involvement and condemned the attack but tension rose sharply and brought the nuclear-armed rivals dangerously close to their fourth war. Nearly a million soldiers were mobilized on both sides of the border and fears of war only dissipated months later, in June 2002.

The hanging was ordered less than three months after India executed the lone surviving gunman of a 2008 attack in the city of Mumbai in which 166 people were killed.

Saturday's execution could help the ruling Congress party deflect opposition criticism of being soft on militancy as it gears up for a series of state elections this year and a general election due by 2014, while grappling with an economic slowdown.

"Congress has decided to be more proactive in view of the elections, not only in terms of economic policy but also matters like the hanging," said political analyst Amulya Ganguli.

"The Congress has now deprived the BJP of a propaganda plank," he said, referring to the main opposition Bharatiya Janata Party.

Government officials dismissed suggestions that electoral politics played a role in the decision to execute Guru.

In major towns of Indian Kashmir, where security forces have battled a Muslim separatist insurgency for decades, barricades were erected and hundreds of police and paramilitary force members were deployed.

"The hanging of Afzal Guru is a declaration of war by India," said Hilal Ahmad War, leader of a separatist faction.

Thirty-six people including 23 policemen were injured in protests, said police spokesman Manoj Sheeri, with most of the violence in Guru's home district.

Authorities shut down internet services to try to stop news of the hanging and unrest spreading. The chief minister of Jammu and Kashmir state, Omar Abdullah, made a televised appeal for calm.

Scuffles also broke out in New Delhi between Hindu activists and demonstrators who gathered at a city-centre protest site to condemn the execution, a Reuters witness said.

WARNING

Five militants stormed the parliament complex in New Delhi on December 13, 2001, armed with grenades, guns and explosives, but security forces killed them before they could enter the main chamber. Ten other people, most of them security officers, were killed.

Guru said he never got a fair trial and his brother reiterated that on Saturday, adding that authorities had not warned the family of his execution.

"At least the government should have given the family a chance to meet him," said the brother, Ajaz Ahmad Guru. "He didn't get a fair trial. His wife is in deep shock."

India said the Pakistan-based Jaish-e-Mohammad militant group was responsible for the parliament attack. The group fights Indian rule in Muslim-majority Kashmir.

The hanging last year of Mohammad Ajmal Kasab, the lone surviving Pakistani militant involved in the 2008 Mumbai attacks, after a long lull in executions, prompted speculation that India would move quickly to execute Guru.

But unlike Kasab's execution, which sparked celebrations in the streets, Guru's case was seen as more divisive.

Some Kashmiri leaders warned that hanging Afzal would fuel the revolt in India's part of the Himalayan region in which tens of thousands of people have been killed since 1989.

Curfews were imposed in Srinagar, the region's summer capital in the Kashmir valley, and major towns including Baramulla, Guru's home town.

Kashmir is divided between India and Pakistan, both of which claim the region in full and rule it in part. They have fought two of their three wars over the region.

In Pakistan-controlled Kashmir, more than 250 people took to the streets to protest against the hanging, shouting "Down with India" and burning an Indian flag.

India has long accused Muslim Pakistan of arming and funding militants to fight Indian forces in Kashmir. Pakistan says it only provides moral support to the fellow-Muslim people of Kashmir, who, Pakistan says, face harsh Indian rule.

The dispute, a legacy of the division of the sub-continent at the end of British rule, is the main factor souring relations between the neighbors.

(Additional reporting by Fayaz Bukhari, Mansi Thapliyal, Ashok Pahalwan, Abu Arqam Naqash, Arnika Thakur and Satarupa Bhattacharjya; Editing by Ross Colvin and Robert Birsel)

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Stock futures flat after China, German data

NEW YORK (Reuters) - Stock index were set for a slightly higher open on Friday after a trio of positive economic data points, but gains were expected to be modest, with the benchmark S&P index near five-year highs.

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

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

Comments from European Central Bank President Mario Draghi about the strength of the euro Thursday renewed concern about the euro zone economy and sent U.S. equities lower.

Wholesale inventories data for December is due at 10:00 a.m. (1500 GMT); inventories are expected to be up 0.4 percent versus a 0.6 percent increase in November.

The S&P 500 <.spx> has risen for five straight weeks and is up 5.8 percent for the year. Its advance was helped by legislators in Washington averting a series of automatic spending cuts and tax hikes earlier in the year, as well as better-than-expected corporate earnings and data that pointed to modest economic improvement but no immediate change in the Federal Reserve's stimulus plans.

The index, hovering near five-year highs, has found it tougher to climb in recent days as investors await strong trading incentives to drive it further upward.

"The market has made a big run, a lot of this was anticipated and so now investors are saying, 'Now what? What do we do for an encore?'" said Terry Morris, senior equity manager for National Penn Investors Trust Company in Reading, Pennsylvania.

"It has made a big run and it is deserving of rest, in fact it would probably be healthy if we had a little bit of a pullback."

S&P 500 futures added 1.8 points and were slightly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 6 points, and Nasdaq 100 futures rose 9.5 points.

McDonald's Corp said January sales at established hamburger restaurants around the world fell 1.9 percent, a steeper decline than analysts expected. Shares edged down 0.5 percent to $94.18 in premarket.

LinkedIn Corp jumped 10.6 percent to $137.28 in premarket trading after announcing both blow-out quarterly profits and a bullish forecast for the new year that exceeded Wall Street's already lofty expectations.

According to Thomson Reuters data through Thursday morning, of 317 companies in the S&P 500 that have reported earnings, 69 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters.

Fourth-quarter earnings for S&P 500 companies grew 5 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

U.S.-listed shares of Oncolytics Biotech Inc surged 44 percent to $5.14 in premarket trading after the company said a mid-stage trial of its experimental lung cancer drug showed 95 percent of the patients experienced a reduction in the size of their tumors.

(Editing by Bernadette Baum)

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Illini buzzer-beater upsets No. 1 Hoosiers, 74-72

CHAMPAIGN, Ill. (AP) — At this rate, no one will want to be No. 1.

Indiana became the fifth straight top-ranked men's college basketball team to lose, falling to unranked Illinois 74-72 on a buzzer-beater by Tyler Griffey on Thursday night.

The senior forward took an inbounds pass with 0.9 seconds to play and made a wide-open layup. And, just like that, the Hoosiers — who moved into the top spot by beating then-No. 1 Michigan just a few days ago — went down.

Indiana coach Tom Crean, whose team has been No. 1 for a total of seven weeks this season after opening there, doesn't know why the top spot is suddenly so hard to hang on to.

"I can't answer that. I'm not sure," Crean said. "I just know that these games are 40-minute games. We played at a high level for most of the game."

The Hoosiers (20-3, 8-2 Big Ten) were in charge until the final 3 1/2 minutes when the Illini (16-8, 3-7 Big Ten) finally put together a run to take and then retake the lead.

"I know this: When we turn the ball over, we're not very good," Crean said. "And the biggest difference tonight was 28 points off turnovers to our 16."

Hoosiers guard Jordan Hulls said flatly that the top rank had nothing to do with Thursday's loss, even for a team that some worried might be looking past unranked, slumping Illinois to a meeting Sunday with No. 10 Ohio State.

"We just didn't execute when we needed to," he said.

If Indiana falls from No. 1 on Monday, No. 2 Florida might not be a candidate to replace the Hoosiers after the Gators' loss this week to Arkansas. That could put No. 3 Michigan back on top if they can make it to Monday without a loss.

For the Hoosiers, nothing could have been worse than the way Thursday's game ended.

With 0.9 seconds, Griffey left defenders Cody Zeller and Christian Watford behind on an inbounds play from the baseline, took the pass from Brandon Paul and delivered the uncontested buzzer-beater.

The shot sent hundreds of students onto the court, though they waited as officials checked the replay to make sure the clock hadn't beaten Griffey. Once the basket was upheld, Paul and fellow guard D.J. Richardson hugged and teared up in relief.

Illinois had endured an awful run since starting 12-0. The Illini had since lost eight of 11 and fallen to 10th in the 12-team Big Ten.

Griffey, who had struggled as bad as any Illini player, seemed surprised at how easily the winning shot came.

"I just made a simple curl cut and left two guys behind me, and Brandon got off a heck of a pass," he said. "Zeller and Watford were both right in front of me and just kind of stayed there."

Crean said the play was a lot like the other breakdowns in the Hoosiers' game that let Illinois climb back from a 12-point halftime deficit.

"We didn't communicate," he said.

Indiana's loss drops them into a three-way tie for first in the Big Ten with Michigan and Michigan State. The win moves the Illini up into a ninth-place tie with Iowa but, more importantly, provides a potential lifeline ahead of a meeting Sunday at No. 18 Minnesota.

"It was good to get back to having that toughness and togetherness and trust that we needed," Illinois coach John Groce said.

Illinois also added a plank to what may be one of the oddest resumes of any team in the country trying to make the NCAA tournament. Illinois has lost to Purdue, Northwestern and twice to Wisconsin. But coming into Thursday night, the Illini had already beaten three teams now in the top 15: No. 6 Gonzaga, No. 10 Ohio State and No. 14 Butler.

Before Thursday, Illinois hadn't beaten a No. 1 team since a win over Wake Forest in 2004.

Richardson had 23 points for Illinois, Paul had 21 and Griffey finished with 14 points and eight rebounds.

Zeller led Indiana with 14 points, while Will Sheehey had 13, Watford 12 and Hulls 11.

Indiana shot 50 percent from the field (25 of 50), 52.9 percent from 3-point range (9 of 17) and 93 percent from the free throw line (13 of 14). The Hoosiers led by an eight- to 10-point margin for most of the second half.

When 6-foot-11 Nnanna Egwu fouled out with just under 5 minutes to play, Indiana appeared in control. Watford made both free throws and, at 69-59, the Illini looked done.

But Richardson went on a one-man run, first burying back-to-back 3-pointers and then hitting a midrange jumper on the run to tie it at 70 with 1:17 to play.

With the clock under 30 seconds and the game tied at 72, Indiana had the ball for what would have been a last shot but Victor Oladipo coughed up the ball. Richardson picked it up and tried a breakaway layup that Oladipo just swatted out of bounds to set up the final play.

Groce credited Richardson for providing a spark.

"I thought he was absolutely terrific on both ends of the floor," Groce said. "He battled, he fought."

Griffey was benched several weeks ago after a blowout loss at Wisconsin. On a team that had lost its shooting touch, the senior forward had especially struggled. And, though one of Illinois' bigger players at 6-9, he wasn't adding much to the inside presence the Illini desperately needed.

Groce said that, even after he benched Griffey, he never gave up on him.

"I just have told him numerous times here I believe in him," the first-year Illinois coach said. "I do."

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Meet the Last Common Ancestor of Bats, Whales, Sloths and Humans

They may run, swim or fly. They may weigh less than a penny or more than a dozen school buses. From humans to whales to bats, the placental mammals–so named for the placenta that nourishes the fetus during development–are mind-bogglingly diverse. (The placental mammals are one of three major groups of mammals; the other two are the egg-laying monotremes and the pouched marsupials.) For years researchers have been attempting to piece together when the placentals originated and when the group’s modern orders, such as the primates and the bats, first emerged. Now a major new analysis of thousands of anatomical features of modern and extinct mammals, as well as molecular sequences from living species, is helping them to do just that. The study also hints at what the ancestral placental mammal–the one that ultimately gave rise to creatures as disparate as tree sloths and sea lions–looked like.Previous attempts to reconstruct the evolutionary history of mammals yielded conflicting scenarios. Fossil evidence suggested that the placentals burst onto the scene shortly after a massive asteroid slammed into the earth around 65 million years ago and snuffed out the dinosaurs. Studies that instead used molecular sequence data to get at the question of when placentals originated and diversified painted a different picture, indicating that the group appeared as early as 100 million years ago, when dinosaurs were still thriving. This date is far older than the oldest known placental fossils, but it helped to explain the diversification of the group: the supercontinent Gondwana was fragmenting at that time and the breakup would have provided opportunities for populations to become separated and evolve in isolation into new forms.The new study, which looked at more than 4,500 traits in 86 fossil and living mammal species, controverts the early origin model, concluding instead that the placentals originated after the mass extinction event, with the first members of modern placental orders evolving some two million to three million years later–after the continental breakup. Maureen O’Leary of Stony Brook University and her collaborators describe their findings in the February 8 Science.Perhaps the coolest part of the paper is the bit where the authors reconstruct the characteristics of the hypothetical placental ancestor–a tree-climbing, insect-eating beastie that weighed between 6 and 245 grams and gave birth to one hairless baby at a time, among other fascinating details. I’d love to see what other hypothetical ancestors look like–last common ancestor of chimps and humans, anyone?    

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Why I dread Chinese New Year

Kids see Chinese New Year through rose-tinted glasses.

STORY HIGHLIGHTS

• Zoe Li: As an adult, Chinese New Year is an annual nightmare


• It's a time when relatives have the right to be judgmental


• Superstitious Chinese New Year foods often aren't that tasty

(CNN) -- For me, Chinese New Year used to be fun.

When I was a kid, I was excited during Chinese New Year when I got lai see and I could stay up late. I even had access to candy, a once-a-year treat while living under the roof of my Tiger Mom.

Riding strong on the sugar highs, I always thought to myself, this is what it must feel like to be an adult. I was flush, free and giddy.

Then at some point in my twenties, Chinese New Year became a chore. Not any garden variety chore, but a cold-sweat-inducing family obligation that I try hard to avoid.

As an adult, Chinese New Year is an annual nightmare, for the following reasons:

1. I find it sucks when you are single

Single twenty-something? Smile while you can until the interrogation begins.

Relatives feel that they have a right to judge you because you do share bits of DNA, so, really, it's almost like they're judging themselves.

Typically, the extended family gathers for Chinese New Year and spends an inordinate amount of time together, during which people get bored and focus their restlessness on judging the younger generation, particularly those who are single.

Singledom means a lack of responsibilities and responsibility-free people need to be reined in by the wisdom of elders, or they will be reckless with their directionless lives.

Here are some unavoidable conversations at Chinese New Year. By "conversations" I really mean monologues by one Wise Elder or another, fired away at a particular Single Younger in a trance-like manner:

"Why don't you have a boyfriend? If you have a boyfriend, why don't you get married?"

"Why are you not dieting at least a little bit? Second Cousin Yong Yong will have to start bringing clothes from America for you."

"What happened to your hair? Blue is not such a good color for us Chinese people."

"Are you saving up for an apartment? Why not? The most important thing in life is to have a roof over your head. You don't want to be homeless, do you? What if the economy collapses again? At least you will have an apartment."

"Why don't you get a better paid job? You are wasting your talent. You will regret your life."

2. I am employed

I loved the great Chinese tradition of gifting lai see. Getting HK$20 for no reason other than tradition really rocked my seven-year-old world.

I have an income now, so twenty bucks here and there doesn't make a huge difference, but I still retain that childhood anticipation for the red packets. It's just a bit disappointing when I open up an envelope and it isn't concealing a massive check.

And it's the guilt from feeling disappointed that makes me really hate Chinese New Year for making me hate myself.

It's just like being unable to conceal your letdown expression when unwrapping that pair of socks at Secret Santa parties.

Gifting is a heartwarming tradition. It's the thought that counts. I am not supposed to care. I am a bad person.

There's even worse.

Chinese New Year gambling is just out of hand.

Now that I have a job, I'm expected to bet real money at The Mahjong Table, a no man's land filled with hidden agendas, treacherous scheming and Janus-faced traitors.

If you beat your elder relatives at mahjong one too many times, beware their wrath. It really hurts when you get hit by a mahjong tile.

If you lose on purpose to your elders and are unable to skillfully conceal your purposefulness, you risk looking patronizing.

It will put them in a bad mood and lead to a vengeful "what are you doing with your life" interrogation later. See point number one.

If you're simply crap at the game, you lose a load of money and will probably be judged for being not very intelligent. See point number one again.

3. I like good food

Chinese New Year cake is good only when it's homemade.

When foreigners make jokes about Chinese eating weird foods, I cringe.

When Chinese New Year comes around, I'm the one making the damn jokes.

At this time of year, we do get some incredible festive dishes.

And then there are those odd ones that make you feel like the taste, texture and nutritional content of food have all become irrelevant -- we only eat for superstitions.

Lots of Chinese New Year foods are auspicious in meaning, but atrocious in taste. I propose that we at least get rid of these three that are now out of touch with our lives:

Chinese New Year cake

Called "leen go" in Cantonese ("niangao" in mainland China), the name sounds auspicious and means "to progress more and reach higher every year."

The cake is made from glutionous rice, sugar and flavored with red bean paste or jujubes. Cut into thin slices, dip into beaten eggs and pan fry until it's gooey on the inside and crisp on the outside.

The problem is, no one makes these at home anymore and the store-bought version is bland and stodgy, like eating slices of caulking.

Since glutinous rice is considered difficult to digest for the elderly, us Single Youngers who have nothing to lose are forced to finish the plateful.

Sugared lotus seeds

Back in the day -- before globalization brought us jelly beans and Sugus, before the invention of Coca-Cola, before Christopher Columbus brought cocoa beans to the Old World -- eating sugar-coated lotus seeds during Chinese New Year seemed like a good idea.

Today, we have so many more delicious ways to feed our sweet tooth, so why do people still buy sugared lotus seeds?

They look like mothballs, taste one dimensional and feel like a marble of sand broken upon the tongue.

The name "leen tsi" sounds like "to birth sons each year." No one in the family likes to eat them and most of them already have kids, which means us Single Youngers have to swallow.

Gok tsai

These are deep-fried sweet dumplings. The skin is a thick, lifeless pastry made from lard, the filling is a mind-numbingly sweet blend of sugar and nuts.

Its shape and color makes it, somewhat, resemble a gold ingot. Eating these symbolize prosperity for the new year.

If I had to run a marathon, I might appreciate the fat bomb. But the only thing that I run are scripts on my browser.

That point, like the others in this post, is lost on the Wise Elders, wise as they are.

The opinions expressed in this commentary are solely those of Zoe Li. A former CNN employee, Zoe is a Hong Kong resident and edits the Hong Kong section of BLOUIN ARTINFO.

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