Woman dead after fall from SUV on Bishop Ford













The SUV believed to have been involved crashed minutes later as state troopers tried to pull it over, police said.


The SUV believed to have been involved crashed minutes later as state troopers tried to pull it over, police said.
(WGN-TV / February 12, 2013)

























































Police are investigating the death of a woman who fell from an SUV that kept on traveling down the Bishop Ford Expressway this morning, eluding officers for five miles until it crashed on an exit ramp at 127th Street in Alsip, authorities said.

The driver was taken into custody, and police said they were investigating whether Jennifer Mitchell, 27, was pushed from the SUV around 154th Street in Dolton shortly before 1 a.m., officials said.

Mitchell was struck by a semi as she lay on the road, according to Master Sgt. Jason LoCoco said. The truck driver stopped and was not taken into custody. A second vehicle may have also struck the woman, according to the Cook County medical examiner's office.

Minutes later, a state trooper spotted the SUV on the Tri-State Tollway near159th Street, Master Sgt. Greg Minx said. The trooper signaled for the driver to pull over but he refused, according to police.  The trooper followed the SUV until it crashed on an exit ramp by 127th Street, some five miles away.

The driver, a 28-year-old man, was taken to Advocate Christ Medical Center in Oak Lawn but his injuries were not believed to be life-threatening, LaCoco said.

The driver was taken into police custody but has not been charged.

Authorities shut all southbound lanes of the Bishop Ford from 147th Street to 159th Street for several hours as they investigated the incident. The lanes have since been reopened.


asege@tribune.com


Twitter: @AdamSege







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China joins U.S., Japan 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 around the world, including from its only major ally, China, which summoned the North Korean ambassador to protest.


The reclusive North said the test was an act of self-defense against "U.S. hostility" and threatened further, stronger steps if necessary.


It 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 year in power, pursuing policies that have propelled his impoverished and malnourished country closer to becoming a nuclear weapons power.


China, which has shown signs of increasing exasperation with the recent bellicose tone of its neighbor, summoned the North Korean ambassador in Beijing 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.


U.S. President Barack Obama labeled the test a "highly provocative act" that hurt regional stability and pressed for new sanctions.


"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.


Russian Foreign Minister Sergei Lavrov urged North Korea to abandon its nuclear arms program and return to talks. NATO condemned the test as an "irresponsible act" that posed a grave threat to world peace.


The test "was only the first response we took with maximum restraint", an unnamed spokesman for the North Korean Foreign Ministry, which acts as Pyongyang's official voice to the outside world, said in a statement carried by the official KCNA news agency.


"If the United States continues to come out with hostility and complicates the situation, we will be forced to take stronger, second and third responses in consecutive steps."


North Korea often threatens the United States and its "puppet", South Korea, with destruction in colorful terms.


North Korea told the U.N. disarmament forum in Geneva that it would never bow to resolutions on its nuclear program and that prospects were "gloomy" for the denuclearization of the divided Korean peninsula because of a "hostile" U.S. policy.


South Korea, still technically at war with the North after the 1950-53 civil war ended in a mere truce, also denounced the test.


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.


"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 strong response, the test is 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 on its nuclear program, 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 futures tick higher in low volume, volatility eyed


NEW YORK (Reuters) - Stock index futures edged higher on Monday, suggesting equities will extend their multi-year closing highs from Friday, but low volume and the absence of economic indicators on tap could make trading volatile.


Upbeat U.S. and Chinese data last week helped extend the weekly winning streak of the S&P 500 to six weeks. The benchmark is up 6.4 percent so far this year after a steep rally in January that has dwindled as earnings season winds down.


S&P 500 futures rose 3.4 points but were slightly below 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 rose 37 points, and Nasdaq 100 futures added 7.5 points.


Google shares dipped 0.8 percent in premarket trading after news Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the company, a move that could potentially net the former chief executive $2.51 billion.


Celgene Corp shares rose 1.5 percent premarket to $101.60 after U.S. regulators approved its new drug for patients with multiple myeloma whose disease has worsened after being treated with other cancer drugs.


US Airways shares gained 2.9 percent to $15.18 as it nears an $11 billion merger with AMR Corp that would create the world's largest airline.


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, as opposition grows to the buyout, the largest since the start of the financial crisis. Dell considered many strategic options before opting to go private, the company said in a regulatory filing.


(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama)



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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.


Read More..

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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Pope Benedict to resign at month's end, cites deteriorating strength








ROME -- Pope Benedict surprised the world on Monday by saying he no longer had the mental and physical strength to cope with the demands of his ministry, becoming the first pontiff to step down since the Middle Ages and leaving his aides "incredulous".

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.

A Vatican spokesman said the Pope had not resigned because of "difficulties in the papacy" and the decision had been a surprise, indicating that even his closest aides were unaware that he was about to quit. The Pope does not fear schism in the Church after his resignation, the spokesman said.


Cardinal Francis George returned to Chicago from a committee meeting in Rome Sunday, spokeswoman Colleen Dolan said. She said he was just as surprised as she was and would release a statement later today.


The Pope's leadership of 1.2 billion Catholics 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."

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.

But after several years into his new job he showed that he not only did not bite but barely even barked.

In recent months, the Pope has looked increasingly frail in public sometimes being helped to walk by those around him.

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.

MEEK DEMEANOUR, STEELY INTELLECT

A spokesman for the German government said he was "moved" by the news while Israel's chief rabbi praised Benedict's inter-faith outreach and wished him good health.

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.

Under the German's meek demeanor lay a steely intellect ready to dissect theological works for their dogmatic purity and debate fiercely against dissenters.

After appearing uncomfortable in the limelight at the start, he began feeling at home with his new job and showed that he intended to be Pope in his way.

Despite great reverence for his charismatic, globe-trotting predecessor -- whom he put on the fast track to sainthood and whom he beatified in 2011 -- aides said he was determined not to change his quiet manner to imitate John Paul's style.

A quiet, professorial type who relaxed by playing the piano, he managed to show the world the gentle side of the man who was the Vatican's chief doctrinal enforcer for nearly a quarter of a century.

The first German pope for some 1,000 years and the second non-Italian in a row, he traveled regularly, making about four foreign trips a year, but never managed to draw the oceanic crowds of his predecessor.

STRING OF SCANDALS

The child abuse scandals hounded most of his papacy. He ordered an official inquiry into abuse in Ireland, which led to the resignation of several bishops.

Scandal from a source much closer to home hit in 2012 when the pontiff's butler, responsible for dressing him and bringing him meals, was found to be the source of leaked documents alleging corruption in the Vatican's business dealings, causing an international furor.

He confronted his own country's past when he visited the Nazi death camp at Auschwitz.

Calling himself "a son of Germany", he prayed and asked why God was silent when 1.5 million victims, most of them Jews, died there during World War Two.

Ratzinger served in the Hitler Youth during World War Two when membership was compulsory. He was never a member of the Nazi party and his family opposed Adolf Hitler's regime.

But his trip to Germany also prompted the first major crisis of his pontificate. In a university lecture he quoted a 14th century Byzantine emperor as saying Islam had only brought evil to the world and that it was spread by the sword.

After protests that included attacks on churches in the Middle East and the killing of a nun in Somalia, the Pope later said he regretted any misunderstanding the speech caused.

In a move that was widely seen as conciliatory, in late 2006 he made a historic trip to predominantly Muslim Turkey and prayed in Istanbul's Blue Mosque with a Turkish Mufti.

But months later, former Iranian President Mohammad Khatami met the Pope and said wounds between Christians and Muslims were still "very deep" as a result of the Regensburg speech.

Reuters






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Pope Benedict surprises world, steps down citing frailty


ROME (Reuters) - Pope Benedict surprised the world on Monday by saying he no longer had the mental and physical strength to cope with the demands of his ministry, becoming the first pontiff to step down since the Middle Ages and leaving his aides "incredulous".


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.


A Vatican spokesman said the Pope had not resigned because of "difficulties in the papacy" and the decision had been a surprise, indicating that even his closest aides were unaware that he was about to quit. The Pope does not fear schism in the Church after his resignation, the spokesman said.


The Pope's leadership of 1.2 billion Catholics 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."


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.


But after several years into his new job he showed that he not only did not bite but barely even barked.


In recent months, the Pope has looked increasingly frail in public sometimes being helped to walk by those around him.


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.


MEEK DEMEANOUR, STEELY INTELLECT


A spokesman for the German government said he was "moved" by the news while Israel's chief rabbi praised Benedict's inter-faith outreach and wished him good health.


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.


Under the German's meek demeanor lay a steely intellect ready to dissect theological works for their dogmatic purity and debate fiercely against dissenters.


After appearing uncomfortable in the limelight at the start, he began feeling at home with his new job and showed that he intended to be Pope in his way.


Despite great reverence for his charismatic, globe-trotting predecessor -- whom he put on the fast track to sainthood and whom he beatified in 2011 -- aides said he was determined not to change his quiet manner to imitate John Paul's style.


A quiet, professorial type who relaxed by playing the piano, he managed to show the world the gentle side of the man who was the Vatican's chief doctrinal enforcer for nearly a quarter of a century.


The first German pope for some 1,000 years and the second non-Italian in a row, he traveled regularly, making about four foreign trips a year, but never managed to draw the oceanic crowds of his predecessor.


STRING OF SCANDALS


The child abuse scandals hounded most of his papacy. He ordered an official inquiry into abuse in Ireland, which led to the resignation of several bishops.


Scandal from a source much closer to home hit in 2012 when the pontiff's butler, responsible for dressing him and bringing him meals, was found to be the source of leaked documents alleging corruption in the Vatican's business dealings, causing an international furor.


He confronted his own country's past when he visited the Nazi death camp at Auschwitz.


Calling himself "a son of Germany", he prayed and asked why God was silent when 1.5 million victims, most of them Jews, died there during World War Two.


Ratzinger served in the Hitler Youth during World War Two when membership was compulsory. He was never a member of the Nazi party and his family opposed Adolf Hitler's regime.


But his trip to Germany also prompted the first major crisis of his pontificate. In a university lecture he quoted a 14th century Byzantine emperor as saying Islam had only brought evil to the world and that it was spread by the sword.


After protests that included attacks on churches in the Middle East and the killing of a nun in Somalia, the Pope later said he regretted any misunderstanding the speech caused.


In a move that was widely seen as conciliatory, in late 2006 he made a historic trip to predominantly Muslim Turkey and prayed in Istanbul's Blue Mosque with a Turkish Mufti.


But months later, former Iranian President Mohammad Khatami met the Pope and said wounds between Christians and Muslims were still "very deep" as a result of the Regensburg speech.


(Editing by Ralph Boulton)


(Writing by Peter Millership,; editing by Janet McBride)



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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





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