China joins U.S., Japan, EU in condemning North Korea nuclear test


SEOUL (Reuters) - North Korea conducted its third nuclear test on Tuesday in defiance of existing U.N. resolutions, drawing condemnation from the United States, Japan, Europe and Pyongyang's only major ally, China, which summoned the North Korean ambassador to protest.


The North said the test had "greater explosive force" than the 2006 and 2009 tests. Its KCNA news agency said it had used a "miniaturized" and lighter nuclear device, indicating that it had again used plutonium which is more suitable for use as a missile warhead.


North Korean leader Kim Jong-un, the third of his line to rule the country, has presided over two long-range rocket launches and a nuclear test during his first a year in power, pursuing policies that have propelled his impoverished and malnourished country closer to becoming a nuclear weapons power.


U.S. President Barack Obama labeled the test a "highly provocative act" that hurt regional stability and he and other states that are members of U.N. Security Council pressed for new sanctions against the isolated country.


"The danger posed by North Korea's threatening activities warrants further swift and credible action by the international community. The United States will also continue to take steps necessary to defend ourselves and our allies," Obama said in a statement.


The Security Council will meet on Tuesday to discuss its reaction to the test, although North Korea is already one of the most heavily sanctioned states in the world and has few external economic links that can be targeted.


Japanese Prime Minister Shinzo Abe said the test was a "grave threat" that could not be tolerated. U.N. Secretary-General Ban Ki-moon said the test was a "clear and grave violation" of U.N. Security Council resolutions.


China, which has shown signs of increasing exasperation with the recent bellicose tone of its neighbor, summoned the North Korean ambassador and protested sternly, the Foreign Ministry said.


Foreign Minister Yang Jiechi said China was "strongly dissatisfied and resolutely opposed" to the test and urged North Korea to "stop any rhetoric or acts that could worsen situations and return to the right course of dialogue and consultation as soon as possible."


China is a permanent member of the Security Council.


NATO condemned the test as an "irresponsible act" that posed a grave threat to world peace.


South Korea, still technically at war with the North after the 1950-53 civil war ended in a mere truce, said the size of the seismic activity indicated a nuclear explosion slightly larger than the North's two previous tests at 6-7 kilotons. The Hiroshima bomb was around 20 kilotons.


The magnitude was roughly twice as large as that of 2009, Lassina Zerbo, director of the international data centre division of the Vienna-based Comprehensive Nuclear-Test Ban Treaty Organization, said.


The U.S. Geological Survey said that a seismic event measuring 5.1 magnitude had occurred on Tuesday, with North Korea later confirming the nuclear test.


"It was confirmed that the nuclear test that was carried out at a high level in a safe and perfect manner using a miniaturized and lighter nuclear device with greater explosive force than previously did not pose any negative impact on the surrounding ecological environment," KCNA said.


Despite China's tame response, it likely to be a major embarrassment for Beijing, the North's sole major economic and diplomatic ally.


"The test is hugely insulting to China, which now can be expected to follow through with threats to impose sanctions," said Mark Fitzpatrick of the International Institute for Strategic Studies think tank.


North Korea trumpeted the announcement on its state television channel to patriotic music against the backdrop of an image of its national flag.


It linked the test to its technical prowess in launching a long-range rocket in December, a move that triggered the U.N. sanctions, backed by China, that Pyongyang said prompted it to take Tuesday's action.


The North's ultimate aim, Washington believes, is to design an intercontinental ballistic missile capable of carrying a nuclear warhead that could hit the United States. North Korea says the program is aimed merely at putting satellites in space.


North Korea used plutonium in previous nuclear tests and prior to Tuesday there had been speculation it would use highly enriched uranium so as to conserve its plutonium stocks as testing eats into its limited supply of the material that could be used to construct a nuclear bomb.


"VICIOUS CYCLE"


Despite its three nuclear tests and long-range rocket tests, North Korea is not believed to be close to manufacturing a nuclear missile capable of hitting the United States.


South Korea's Yonhap news agency said Pyongyang had informed China and the United States of its plans to test on Monday, although this could not be confirmed.


When North Korean leader Kim, 30, took power after his father's death in December 2011, there were hopes the he would bring reforms and end Kim Jong-il's "military first" policies.


Instead, the North, whose economy is smaller than it was 20 years ago and where a third of children are believed to be malnourished, appears to be trapped in a cycle of sanctions followed by further provocations.


"The more North Korea shoots missiles, launches satellites or conducts nuclear tests, the more the U.N. Security Council will impose new and more severe sanctions," said Shen Dingli, a professor at Shanghai's Fudan University. "It is an endless, vicious cycle."


But options for the international community appear to be in short supply.


Tuesday's action appeared to have been timed for the run-up to February 16 anniversary celebrations of Kim Jong-il's birthday, as well as to achieved maximum international attention.


Significantly, the test comes at a time of political transition in China, Japan and South Korea, and as Obama begins his second term. He will likely have to tweak his State of the Union address due to be given on Tuesday.


Japanese Prime Minister Shinzo Abe is bedding down a new government and South Korea's new president, Park Geun-hye, prepares to take office on February 25.


China too is in the midst of a once-in-a-decade leadership transition to Xi Jinping, who takes office in March. Both Abe and Xi are staunch nationalists.


The longer-term game plan from Pyongyang may be to restart talks aimed at winning food and financial aid. China urged it to return to the stalled "six-party" talks, hosted by China and including the two Koreas, the United States, Japan and Russia.


Its puny economy and small diplomatic reach mean the North struggles to win attention on the global stage - other than through nuclear tests and attacks on South Korea, last made in 2010.


"Now the next step for North Korea will be to offer talks... - any form to start up discussion again to bring things to their advantage," said Jeung Young-tae, senior research fellow at the Korea Institute for National Unification in Seoul.


The European Union's foreign policy chief, Catherine Ashton, urged North Korea to refrain from further provocation.


EU member Denmark called on China to step up to the plate and use its influence to rein in its ally.


"This deserves only one thing and that is a one-sided condemnation," said Foreign Minister Villy Sovndal. "North Korea is likely the most horrible country on this planet."


(Additional reporting by Jack Kim, Christine Kim and Jumin Park in SEOUL; Linda Sieg in TOKYO; Louis Charbonneau at the UNITED NATIONS; Fredrik Dahl in VIENNA; Michael Martina and Chen Aizhu in BEIJING; Mette Fraende in COPENHAGEN; Adrian Croft, Charlie Dunmore and Justyna Pawlak in BRUSSELS; Editing by Nick Macfie)



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Stock index futures signal higher open

PARIS (Reuters) - Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 0.07 percent, Dow Jones futures up 0.08 percent and Nasdaq 100 futures up 0.03 percent at 03.44 a.m. EST.


European stocks fell, reversing Friday's rebound as simmering worries over Spain and Italy continued to spook investors. <.eu> Most Asian bourses, including those in Japan, China, Hong Kong, Singapore and South Korea, were closed for the Lunar New Year holiday.


US Airways Group Inc and AMR Corp are nearing an $11 billion merger that would create the world's largest airline and could announce a deal within a week, after resolving key differences on valuation and management structure, people familiar with the matter said.


Google Inc Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the Internet search company, a move that could potentially net the former chief executive a $2.51 billion windfall.


Three of Dell Inc's largest investors joined Southeastern Asset Management on Friday in objecting to a $24.4 billion buyout of the No. 3 PC maker led by Chief Executive Michael Dell, sources said, as opposition grows to the largest buyout since the start of the financial crisis.


Boeing Co completed what it called an uneventful flight on Saturday of a test 787 Dreamliner, its first since the airplanes were grounded more than three weeks ago after a series of battery-related problems.


Apple Inc. is experimenting with the design of a device similar to a wristwatch that would operate on the same platform as the iPhone and would be made with curved glass, the New York Times reported on Sunday.


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 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.


(Reporting by Blaise Robinson; editing by Patrick Graham)



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Snedeker on the rise with Pebble win


PEBBLE BEACH, Calif. (AP) — Everything about Brandt Snedeker moves at warp speed, including his rapid rise into golf's elite.


He talks so fast that he always seems to be a few words short of a complete sentence. He plays fast, giving his hips a quick swivel to set his position before pulling the trigger. Even his putts go into the hole quickly, most of them struck with purpose instead of hope.


But when he reached the 18th tee box at Pebble Beach, he had to wait for the fairway to clear before taking a victory stroll up one of the prettiest closing holes in golf.


And that was OK with him.


"There's not much better place to be on the planet with a three-shot lead on that tee box," Snedeker said Sunday. "It felt pretty special there."


Indeed, Snedeker is in a special place.


With his 10th consecutive round in the 60s, Snedeker finally had a trophy to show for his astounding start to the 2013 season. He knew the opening seven holes were critical, and he made an eagle and three birdies to build a quick lead. He realized a late birdie would give him a cushion, and he fired at the flag on the par-3 17th to 10 feet below the cup and holed the putt. He closed with a 7-under 65 for a two-shot win over Chris Kirk in the Pebble Beach National Pro-Am.


It was the fifth win of his career, and his fourth in the last 22 months. But it's the last six months that have really turned heads.


He captured the $10 million FedEx Cup prize with a win at the Tour Championship, where he held off the likes of Rory McIlroy, Tiger Woods and Luke Donald going into the final round. He played in his first Ryder Cup. He started this year with a third-place at Kapalua, and runner-up finishes in consecutive weeks to Woods and Phil Mickelson, both of whom had big leads going into the final round.


Go back to the start of the FedEx Cup playoffs last August and Snedeker now has six top 3s in his last nine starts. Since missing the cut at the PGA Championship, he has broken par in 33 out of 37 rounds. No wonder he now is No. 4 in the world, the best ranking of his career.


"Just hard to put into words, to have a stretch of golf like I had the last couple of months," Snedeker said. "Something you dream about. Something you think that you can do, but you don't really know until you actually put it together. And I have.


"I'm really enjoying this, and hopefully can parlay this into the best year of my career."


Snedeker set the tournament record at 19-under 267, one shot better than Mickelson (2007) and Mark O'Meara (1997), who each had a 20-under 268 when Poppy Hills (par 72) was part of the rotation. It has been replaced by Monterey Peninsula, which is a par 70.


Chris Kirk closed with a 66 to finish alone in second, though he was never closer than two shots of the lead on the back nine and finished with a birdie. Kirk finished on 269, a score that would have been good enough to win all but four times at Pebble Beach since this tournament began in 1937.


"We've had a lot of tournaments like that on tour this year where somebody has really just kind of blitzed the field," Kirk said. "I felt like I played well enough to win a golf tournament and came up a little bit short."


Snedeker could have said the same thing — except for Woods at Torrey Pines, and Mickelson going obscenely low to win the Phoenix Open.


He wasn't about to take a back seat to anyone at Pebble Beach.


Snedeker started the final round tied with James Hahn, a 31-year-old rookie from the Bay Area, with Kirk one shot behind. He set the tone early with a 4-iron into the par-5 second hole that was on the edge of the left green. It hit the collar and kicked slightly to the right, rolling toward the pin until it settled 4 feet behind the cup.


"Kind of lucky, but it was a good shot, and to end up where it did was a great way to start the day," he said.


Hahn hit his approach high and pure, and it nearly hit Snedeker's ball before stopping 6 feet away. Hahn missed. Snedeker made. It was like that over the front nine.


Snedeker started to pull away with a 3-wood that came off the edge of the green, ran by the cup and stopped 20 feet away for a two-putt birdie. Then, he holed a 15-foot birdie putt on the seventh and was on his way.


Most impressive about Snedeker this week was bouncing back from bogey. He made five bogeys for the entire week, and four times made birdie on the next hole. On Sunday, his lone mistake was knocking an 18-foot birdie off the green and three-putting for bogey at No. 9.


The answer, like everything else about him, was fast and furious.


He knocked in a 25-foot birdie putt on the 10th, and then holed from 15 feet for birdie on the 12th. Right when it looked as though he would make another bogey on the par-3 12th, he made par from just short of 10 feet.


There's a reason Snedeker led the PGA Tour in putting last year, though it's his driving that has vastly improved. Snedeker studied some statistics last year that showed his odds of hitting the green go way up when he starts in the fairway. And once he's on the green, he's tough to beat.


Hahn, who shot 70 and tied for third, was looking forward to learning something from his debut in the final group, and he saw Snedeker put on a clinic.


"I learned that he is a better guy than he is a golfer. The dude is world class," Hahn said. "He's obviously one of the best, if not the best golfer right now, and possibly for the last year. But how he conducts himself as a person on an off the golf course, that's also world class. He deserved to win today. ... I'm sure if you ask him, it was never a doubt that he was going to win the golf tournament."


Snedeker concurred.


"I definitely didn't want to do anything but win today," he said. "I was out there for one purpose and one purpose only, and I was extremely focused all day. I did a great job of staying patient and I did a great job of playing the golf course the way you're supposed to play it."


And the outcome was just what he expected. The way he has been playing, it shouldn't have been any surprise to anyone.


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Bacchus parade is on in La. despite weather threat






NEW ORLEANS (AP) — Even with nasty weather potentially on its way, one of the biggest parades in the run-up to Mardi Gras is set to roll.


The Krewe of Bacchus, led by Actor G.W. Bailey, was scheduled to roll at 5:15 Sunday evening, even though the National Weather Service said thunderstorms were likely from 3 to 6 p.m.






Parades sometimes roll early or on another day due to weather, but so far, not this one.


Bacchus spokesman Clark Brennan said, “We’re rollin’.”


Bailey co-stars on “Major Crimes” on TNT and is known for the “Police Academy” movies and the series “The Closer.”


He also runs a nonprofit group that focuses on children being treated for cancer. Bailey invited more than two dozen from across the country to join him in Sunday’s parade.


Weather News Headlines – Yahoo! News





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What beats Grammy? Immortality













Legends beyond their own time


Legends beyond their own time


Legends beyond their own time


Legends beyond their own time


Legends beyond their own time


Legends beyond their own time








STORY HIGHLIGHTS


  • Bob Greene: Grammy nominated acts should remember the real prize comes later in life

  • He says at a hotel he ran into a group of singing stars from an earlier era, in town for a show

  • He says the world of post-fame touring less glamorous for acts, but meaningful

  • Greene: Acts grow old, but their hits never will and to fans, the songs are time-machine




Editor's note: CNN Contributor Bob Greene is a best-selling author whose 25 books include "When We Get to Surf City: A Journey Through America in Pursuit of Rock and Roll, Friendship, and Dreams"; "Late Edition: A Love Story"; and "Once Upon a Town: The Miracle of the North Platte Canteen."


(CNN) -- Memo to Carly Rae Jepsen, Frank Ocean, Hunter Hayes, Mumford & Sons, Miguel, the Alabama Shakes and all the other young singers and bands who are nominated for Sunday night's Grammy Awards:


Your real prize -- the most valuable and sustaining award of all -- may not become evident to you until 30 or so years have passed.


You will be much older.


But -- if you are lucky -- you will still get to be out on the road making music.



Bob Greene

Bob Greene



Many of Sunday's Grammy nominees are enjoying the first wave of big success. It is understandable if they take for granted the packed concert venues and eye-popping paychecks.


Those may go away -- the newness of fame, the sold-out houses, the big money.


But the joy of being allowed to do what they do will go on.


I've been doing some work while staying at a small hotel off a highway in southwestern Florida. One winter day I was reading out on the pool deck, and there were some other people sitting around talking.


They weren't young, by anyone's definition. They did not seem like conventional businessmen or businesswomen on the road, or like retirees. There was a sense of nascent energy and contented anticipation in their bearing, of something good waiting for them straight ahead. A look completely devoid of grimness or fretfulness, an afternoon look that said the best part of the day was still to come.


I would almost have bet what line of work they were in. I'd seen that look before, many times.


I could hear them talking.


Yep.


The Tokens ("The Lion Sleeps Tonight," a No. 1 hit in 1961).




Little Peggy March ("I Will Follow Him," a No. 1 hit in 1963).


Little Anthony and the Imperials ("Tears on My Pillow," a top 10 hit in 1958).


Major singing stars from an earlier era of popular music, in town for a multi-act show that evening.


It is the one sales job worth yearning for -- carrying that battered sample case of memorable music around the country, to unpack in front of a different appreciative audience every night.


It's quite a world. I was fortunate enough to learn its ins and outs during the 15 deliriously unlikely years I spent touring the United States singing backup with Jan and Dean ("Surf City," a No. 1 hit in 1963) and all the other great performers with whom we shared stages and dressing rooms and backstage buffets:


Chuck Berry, Martha and the Vandellas, Jerry Lee Lewis, Little Richard, the Everly Brothers, James Brown, Lesley Gore, Freddy "Boom Boom" Cannon, the Kingsmen, the Drifters, Fabian, the Coasters, Little Eva, the Ventures, Sam the Sham. ...


Jukebox names whose fame was once as fresh and electric as that now being savored by Sunday's young Grammy nominees.


Decades after that fame is new, the road may not be quite as glamorous, the crowds may not be quite as large. The hours of killing time before riding over to the hall, the putrid vending-machine meals on the run, the way-too-early-in-the-morning vans to the airport -- the dreary parts all become more than worth it when, for an hour or so, the singers can once again personally deliver a bit of happiness to the audiences who still adore their music.


Greene: Super Bowl ad revives iconic voice


As the years go by, the whole thing may grow complicated -- band members come and go, they fight and feud, some quit, some die. There are times when it seems you can't tell the players without a scorecard -- the Tokens at the highway hotel were, technically and contractually, Jay Siegel's Tokens (you don't want to know the details). One of their singers (not Jay Siegel -- Jay Traynor) was once Jay of Jay and the Americans, a group that itself is still out on the road in a different configuration with a different Jay (you don't want to know).


But overriding all of this is a splendid truism:


Sometimes, if you have one big hit, it can take care of you for the rest of your life. It can be your life.


Sunday's young Grammy nominees may not imagine, 30 years down the line, still being on tour. But they -- the fortunate ones -- will come to learn something:


They will grow old, but their hits never will -- once people first fall in love with those songs, the songs will mean something powerful and evocative to them for the rest of their lives.


And as long as there are fairground grandstands on summer nights, as long as there are small-town ballparks with stages where the pitcher's mound should be, the singers will get to keep delivering the goods.


That is the hopeful news waiting, off in the distance, for those who will win Grammys Sunday, and for those who won't be chosen.


On the morning after that pool-deck encounter in Florida I headed out for a walk, and in the parking lot of the hotel I saw one of the Tokens loading his stage clothes into his car.


His license plate read:


SHE CRYD


I said to him:


"You sing lead on 'She Cried,' right?"


"Every night," he said, and drove off toward the next show.


The next show.


That's the prize.


That's the trophy, right there.


Follow @CNNOpinion on Twitter.


Join us at Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of Bob Greene.






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Pope Benedict to resign at month's end








Pope Benedict, leader of the world's 1.2 billion Catholics, said on Monday he will resign on Feb 28. because he no longer has the strength to fulfill the duties of his office, becoming the first pontiff since the Middle Ages to take such a step.

The 85-year-old German-born Pope, hailed as a hero by conservative Catholics and viewed with suspicion by liberals, said he had noticed that his strength had deteriorated over recent months.

His papacy has been beset by a child sexual abuse crisis that tarnished the Church, one address in which he upset Muslims and a scandal over the leaking of his private papers by his personal butler.

In a statement, the pope said in order to govern "...both strength of mind and body are necessary, strength which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfill the ministry entrusted to me.

"For this reason, and well aware of the seriousness of this act, with full freedom I declare that I renounce the ministry of Bishop of Rome, Successor of Saint Peter," he said according to a statement from the Vatican.

A Vatican spokesman said the pontiff would step down from 1 p.m. CST on Feb. 28, leaving the office vacant until a successor was chosen to Benedict who succeeded John Paul, one of history's most popular pontiffs.

Elected to the papacy on April 19, 2005 when he was 78 -- 20 years older than John Paul was when he was elected -- he ruled over a slower-paced, more cerebral and less impulsive Vatican.

But while conservatives cheered him for trying to reaffirm traditional Catholic identity, his critics accused him of turning back the clock on reforms by nearly half a century and hurting dialogue with Muslims, Jews and other Christians.

Before he was elected Pope, the former Cardinal Joseph Ratzinger was known by such critical epithets as "God's rottweiler" because of his stern stand on theological issues.


Reuters






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Benedict to resign, first pontiff since Middle Ages to quit


ROME (Reuters) - Pope Benedict, leader of the world's 1.2 billion Catholics, said on Monday he will resign on Feb 28. because he no longer has the strength to fulfill the duties of his office, becoming the first pontiff since the Middle Ages to take such a step.


The 85-year-old German-born Pope, hailed as a hero by conservative Catholics and viewed with suspicion by liberals, said he had noticed that his strength had deteriorated over recent months.


His papacy has been beset by a child sexual abuse crisis that tarnished the Church, one address in which he upset Muslims and a scandal over the leaking of his private papers by his personal butler.


In a statement, the pope said in order to govern "...both strength of mind and body are necessary, strength which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfill the ministry entrusted to me.


"For this reason, and well aware of the seriousness of this act, with full freedom I declare that I renounce the ministry of Bishop of Rome, Successor of Saint Peter," he said according to a statement from the Vatican.


A Vatican spokesman said the pontiff would step down from 2 p.m. ET on February 28, leaving the office vacant until a successor was chosen to Benedict who succeeded John Paul, one of history's most popular pontiffs.


Elected to the papacy on April 19, 2005 when he was 78 -- 20 years older than John Paul was when he was elected -- he ruled over a slower-paced, more cerebral and less impulsive Vatican.


But while conservatives cheered him for trying to reaffirm traditional Catholic identity, his critics accused him of turning back the clock on reforms by nearly half a century and hurting dialogue with Muslims, Jews and other Christians.


Before he was elected Pope, the former Cardinal Joseph Ratzinger was known by such critical epithets as "God's rottweiler" because of his stern stand on theological issues.


(Reporting by Steve Scherer; editing by Janet McBride and Peter Millership)



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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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Michigan, Kansas go down as run continues


There goes another one, and another one.


No. 3 Michigan, fifth-ranked Kansas and No. 11 Louisville all lost on Saturday, continuing a perilous stretch for the Top 25.


The Wolverines became the third top-three team to fall this week when Ben Brust hit a tiebreaking 3-pointer with less than 40 seconds left in overtime, leading Wisconsin to a 65-62 victory. Brust also tied the game at the end of regulation with a heave from just inside halfcourt.


That's just the way it has gone lately for the top of the poll.


No. 2 Florida lost at Arkansas on Tuesday night, and No. 1 Indiana dropped a 74-72 decision at Illinois on Thursday. This should be the sixth straight week with a different No. 1 in The Associated Press' Top 25, which would be the second-longest streak since the first AP poll in 1949.


The Jayhawks have dropped three straight games for the first time in eight years after they lost 72-66 at Oklahoma.


"It hasn't been a good week for us by any stretch, but let's be real," Kansas coach Bill Self said. "We were ranked No. 2 in the country seven days ago, and you don't go from being a good team to a bad team overnight.


"We've had a couple of bad outings, but we're still a good team."


The current string of No. 1 swapping is the longest since 1994, when Arkansas, North Carolina, Kansas, UCLA and Duke alternated at the top seven straight weeks — the longest streak since Saint Louis debuted as No. 1 in the initial AP poll.


But it isn't just the teams at the top that are having trouble. Top 25 teams all over the country are getting knocked off by unranked opponents.


According to STATS LLC, Top 25 teams lost to unranked teams 36 times from Jan. 17 to Feb. 6 this season, most in at least 17 years.


Louisville lost 104-101 in five overtimes at No. 25 Notre Dame on Saturday night. It was the longest regular-season game in Big East history.


The Irish trailed by eight with 46 seconds left in regulation.


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First Person: Bronx, N.Y., One Day After Winter Storm Nemo






Yahoo! News is gathering brief first-person accounts, photos and video from the severe winter weather in the northeastern United States. Here’s one resident’s story.


FIRST PERSON | My part of New York, the Bronx, was spared from the worst of Nemo. Saturday morning some people were driving around in the area. Traffic wasn’t entirely normal as not all of the streets have been cleared of snow. My neighbors were scraping snow off their cars, and clearing sidewalks in the morning. While all subway service has been restored, not all of the commuter trains are back in service. The Metro North trains still have some lines that are not operational. With enough snow cleared, I will visit family later today. It’s a nice, sunny day outside.






Weather News Headlines – Yahoo! News





Title Post: First Person: Bronx, N.Y., One Day After Winter Storm Nemo
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