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...

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Djokovic survives to advance at Australian Open

MELBOURNE, Australia (AP) — Novak Djokovic got a huge scare from 15th-seeded Stanislas Wawrinka before hanging on to win in the 22nd game of the fifth set to advance to the quarterfinals of the Australian Open.The top-seeded Djokovic needed 5 hours, 2 minutes for a 1-6, 7-5, 6-4, 6-7 (5), 12-10 victory that ended early Monday morning.Djokovic broke Wawrinka's serve in the final game to clinch the...

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Joshua Tree spider species named for U2′s Bono

JOSHUA TREE NATIONAL PARK, Calif. (AP) — It appeared Bono and arachnids didn’t mix when his “Spider-Man” musical had a rough Broadway run, but that didn’t keep a biologist from naming an actual spider species after the U2 singer.Jason Bond of Alabama’s Auburn University has identified 33 new species of trapdoor spider, including three of them in the California desert at Joshua Tree National Park....

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Caterpillar writes off most of China deal after fraud

(Reuters) – Caterpillar Inc uncovered “deliberate, multi-year, coordinated accounting misconduct” at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of the deal and wiping out more than half its expected earnings for the fourth quarter of 2012.Shares of Caterpillar fell 1.5 percent in afterhours trading following news of the fraud, which was discovered...

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Beyond Politics, Food and Fashion at the Presidential Inauguration

Jacqueline Kennedy had Oleg Cassini, Nancy Reagan James Galanos—fashion designers that dressed them for the presidential inauguration and throughout their time in the White House. Michelle Obama also wears designer clothes but she’s probably best known for popularizing the J. Crew label, wearing its sweaters and skirts and, most notably, its moss green leather gloves to accompany the lemongrass yellow...

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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...

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Te'o tells ESPN: Not involved in creating hoax

NEW YORK (AP) — Notre Dame linebacker Manti Te'o insisted he had no role in the bizarre hoax involving his "dead" girlfriend and told ESPN on Friday night that he was duped by a person who has since apologized to him.In an off-camera interview Friday with ESPN, Te'o said Ronaiah Tuiasosopo, a 22-year-old acquaintance who lives in California, contacted him two days ago and confessed to the prank. Deadspin.com...

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U.S. 'needs tougher child labor rules'

Cristina Traina says in his second term, Obama must address weaknesses in child farm labor standards STORY HIGHLIGHTSCristina Traina: Obama should strengthen child farm labor standardsShe says Labor Dept. rules allow kids to work long hours for little pay on commercial farmsShe says Obama administration scrapped Labor Dept. chief's proposal for tightening rulesShe says Labor Dept. must fix lax standards...

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Armstrong admits doping: ‘I’m a flawed character’

CHICAGO (AP) — He did it. He finally admitted it. Lance Armstrong doped.He was light on the details and didn’t name names. He mused that he might not have been caught if not for his comeback in 2009. And he was certain his “fate was sealed” when longtime friend, training partner and trusted lieutenant George Hincapie, who was along for the ride on all seven of Armstrong’s Tour de France wins from...

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Oil falls as traders weigh China data, 2013 demand

The price of oil slipped to near $ 95 a barrel Friday but remained near four-month highs after new data showed China‘s economy rebounded in the final quarter of last year, suggesting an increase in energy demand.By early afternoon in Europe, benchmark oil for February delivery was down 26 cents to $ 95.23 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $ 1.25...

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