Wounded soldier gets double-arm transplant in Md.


BALTIMORE (AP) — A soldier who lost all four limbs in a roadside bomb attack in 2009 in Iraq has received a double-arm transplant in Baltimore.


Johns Hopkins Hospital surgeons plan to discuss the transplant Tuesday at a news conference with the infantryman.


Johns Hopkins says the soldier is one of seven in the United States who have undergone successful double-arm transplants.


Hospital officials say the transplant last month is the first for the hospital and involved an innovative treatment to prevent rejection of the new limbs. Johns Hopkins officials say the treatment used the dead donor's bone marrow cells and so far has prevented rejection and reduced the need for anti-rejection drugs. Those drugs can cause complications including infection and organ damage.


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Wall Street flat after rally, Caterpillar advances

NEW YORK (Reuters) - U.S. stocks were flat on Monday, with investors reluctant to make big bets following an extended equity rally, though strong data and results from Caterpillar kept a positive tone in markets.


The S&P 500 is coming off a streak of eight sessions of gains, the longest winning streak for the index in eight years. On Friday, it closed above 1,500 for the first time in more than five years.


Caterpillar Inc rose 1.8 percent to $97.24 after the Dow component reported adjusted fourth-quarter earnings that beat expectations, though revenue was slightly below forecasts. The heavy machinery maker also said it expects China's economy to improve, though not at the rates of 2010 and 2011.


The results continued the trend of major firms posting strong quarters, contributing to major averages rising for four straight weeks.


"You can't find more of a global bellwether than Cat, and people are pleased with the number, which suggests there could be less concern about slowing growth in China after this," said Wayne Kaufman, chief market analyst at John Thomas Financial in New York.


Thomson Reuters data through Friday showed that of the 147 S&P 500 companies that have reported earnings so far, 68 percent exceeded expectations. Since 1994, 62 percent of companies have topped expectations, while the average over the past four quarters stands at 65 percent.


The Dow Jones industrial average <.dji> was up 18.07 points, or 0.13 percent, at 13,914.05. The Standard & Poor's 500 Index <.spx> was down 0.07 points, or 0.00 percent, at 1,502.89. The Nasdaq Composite Index <.ixic> was up 7.25 points, or 0.23 percent, at 3,156.97.


The S&P 500 on Friday closed at its highest since December 10, 2007, and the Dow ended at its highest since October 31, 2007. Over the past four weeks, the S&P has jumped 7.2 percent, suggesting markets may be vulnerable to a pullback if news disappoints.


Durable goods jumped 4.6 percent in December, a pace that far outstripped expectations for a rise of 1.8 percent.


"We continue to have a parade of better-than-expected economic reports. All-in-all it's a good picture. I think there's a good chance we've reached a point of recognition where people don't think the economy will crater," Kaufman said.


In addition to earnings, equities have also risen on an agreement in Washington to extend the government's borrowing power. On Monday, Fitch Ratings said that agreement removed the near-term risk to the country's 'AAA' rating.


Previously, the agency said the lack of an agreement would prompt a review of the sovereign rating.


In company news, Keryx Biopharmaceuticals Inc said a late-stage trial of its experimental kidney disease drug met the main study goal of reducing phosphate levels in blood, sending shares up 43 percent to $4.91.


Bargain hunters may look to Apple Inc in the first session after the tech giant lost its coveted title as the largest U.S. company by market capitalization to Exxon Mobil Corp . Apple rose 0.7 percent to $443.06.


On Friday, Apple's market cap fell to $413 billion, down roughly $250 billion from its September peak. Apple's fall is about equal to the entire value of Google Inc .


"Apple is pretty attractive right now, so you may see an opportunity here," said Chris Bertelsen, who helps oversee $1.5 billion as chief investment officer of Global Financial Private Capital in Sarasota, Florida. "Those who think the stock is dead have made a big mistake."


(Editing by W Simon, Kenneth Barry and Nick Zieminski)



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Violence flares in Egypt after emergency law imposed


CAIRO (Reuters) - A man was shot dead on Monday in a fifth day of violence in Egypt that has killed 50 people and prompted the Islamist president to declare a state of emergency in an attempt to end a wave of unrest sweeping the Arab world's biggest nation.


Emergency rule announced by President Mohamed Mursi on Sunday covers the cities of Port Said, Ismailia and Suez. The army has already been deployed in two of those cities and cabinet approved a measure to let soldiers arrest civilians.


A cabinet source told Reuters any trials would be before civilian courts, but the step is likely to anger protesters who accuse Mursi of using high-handed security tactics of the kind they fought against to oust President Hosni Mubarak.


Egypt's politics have become deeply polarized since those heady days two years ago, when protesters were making most of the running in the Arab Spring revolutions that sent shockwaves through the region and Islamists and liberals lined up together.


Although Islamists have won parliamentary and presidential elections, the disparate opposition has since united against Mursi. Late last year he moved to expand his powers and push a constitution with Islamist leanings through a referendum, punctuated by violent street protests.


Mursi's call for a national dialogue meeting on Monday to help end the crisis was spurned by his main opponents.


They accuse Mursi of hijacking the revolution, listening only to his Islamist allies and breaking a promise to be a president for all Egyptians. Islamists say their rivals want to overthrow by undemocratic means Egypt's first freely elected leader.


Anti-Mursi protesters were out on the streets again in Cairo and elsewhere on Monday, the second anniversary of one of the bloodiest days in the revolution that erupted on January 25, 2011, and ended Mubarak's iron rule 18 days later.


CONCERNS


Hundreds of demonstrators in Port Said, Ismailia and Suez, cities which all lie on the economically vital Suez Canal, had turned out against Mursi's decision on Sunday within moments of him speaking. Activists there pledged to defy a curfew that starts at 9 p.m. (1700 GMT).


Instability in Egypt has raised concerns in Western capitals, where officials worry about the direction of a key regional player that has a peace deal with Israel.


The political unrest has been exacerbated by street violence linked to death penalties imposed on soccer supporters convicted of involvement in stadium rioting a year ago.


In Cairo on Monday, police fired volleys of teargas at stone-throwing protesters near Tahrir Square, cauldron of the anti-Mubarak uprising. A 46-year-old bystander was killed by a gunshot, a security source said. It was not clear who opened fire.


"We want to bring down the regime and end the state that is run by the Muslim Brotherhood," said Ibrahim Eissa, a 26-year-old cook, protecting his face from teargas wafting towards him.


Propelled to the presidency in a June election by the Muslim Brotherhood, Mursi has lurched through a series of political crises and violent demonstrations, complicating his task of shoring up the economy and of preparing for a parliamentary election to cement the new democracy in a few months.


"The protection of the nation is the responsibility of everyone. We will confront any threat to its security with force and firmness within the remit of the law," Mursi said, angering many of his opponents when he wagged his finger at the camera.


The president offered condolences to families of victims of violence and also called a dialogue meeting on Monday at 6 p.m. (11 a.m. ET) between Islamist allies and their liberal, leftist and other opponents to discuss the crisis.


The main opposition National Salvation Front coalition rejected the offer as "cosmetic and not substantive" and set several conditions that have not been met in the past, such as forming a national salvation government. They also demanded that Mursi announce his responsibility for the bloodshed.


SECURITY MEASURES


"We will send a message to the Egyptian people and the president of the republic about what we think are the essentials for dialogue. If he agrees to them, we are ready for dialogue," opposition politician Mohamed ElBaradei told a news conference.


The opposition Front has distanced itself from the latest flare-ups but said Mursi should have acted far sooner to impose security measures that would have ended the violence.


"Of course we feel the president is missing the real problem on the ground, which is his own policies," Front spokesman Khaled Dawoud said after Mursi made his declaration.


Other activists said Mursi's measures to try to impose control on the turbulent streets could backfire.


"Martial law, state of emergency and army arrests of civilians are not a solution to the crisis," Ahmed Maher of the April 6 movement that helped galvanize the 2011 uprising said. "All this will do is further provoke the youth. The solution has to be a political one that addresses the roots of the problem."


Thousands of mourners joined funerals in Port Said for the latest victims in the Mediterranean port city. Seven people were killed there on Sunday when residents joined marches to bury 33 others who had been killed a day earlier, most by gunshot wounds in a city where arms are rife.


Protests erupted there on Saturday after a court sentenced to death several people from the city for their role in deadly soccer violence last year, a verdict residents saw as unfair. The anger swiftly turned against Mursi and his government.


Rights activists said Mursi's declaration was a backward step for Egypt, which was under emergency law for Mubarak's entire 30-year rule. His police used the sweeping arrest provisions to muzzle dissent and round up opponents, including members of the Brotherhood and even Mursi himself.


Heba Morayef of Human Rights Watch in Cairo said the police, still hated by many Egyptians for their heavy-handed tactics under Mubarak, would once again have the right to arrest people "purely because they look suspicious", undermining efforts to create a more efficient and respected police force.


"It is a classic knee-jerk reaction to think the emergency law will help bring security," she said. "It gives so much discretion to the Ministry of Interior that it ends up causing more abuse, which in turn causes more anger."


(Additional reporting by Yasmine Saleh in Cairo and Yusri Mohamed in Ismailia; Editing by Giles Elgood and Peter Millership)



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3 Bite-Size Tips for Using Twitter in a Job Search






Advice abounds on how to use social media to advance your career and job search. Beyond reading the volumes of great books, breaking down advice into manageable bites is a smart way to venture into the often-rough social networking waters. Also, choosing one site and really getting your feet wet is helpful to prevent social media overwhelm and scattershot behavior. The following are three snack-size tips to help you get started using the niche-networking site, Twitter.


Tip No. 1: Create a Twitter handle that articulates your value. This may simply mean using your name, particularly if your personal brand and unique value are highly connected to your name. So, @JaneDDoe may just be the perfect draw to brand you. However, if your brand is better exuded through a descriptive representation of what you do, whom you serve, how you serve, and so forth, then consider drawing a visual word picture. The challenge: Creating this handle to represent your brand in just a 15-character limit. But you can meet that challenge. It just takes thought and brainstorming.






Check out these eight examples of personally branded, value-focused and/or descriptive Twitter handles to get your juices flowing:


1. Showing your unique value: @WorkIntegrity (A career transition consultant with integrity)


2. Showing what you do: @bizshrink (A leadership psychologist who grows psychologically savvy leaders)


3. Describing how you help others: @AuntieStress (She undresses your stress by getting to the heart of the cause)


4. Using your name brand: @lizadonnelly (A New York-based cartoonist and writer)


5. Creating a hybrid handle: @RedBaronUSA (A turnaround management and growth strategy expert who uses a company name, RedBaron, and first name, Baron, in the handle)


6. Describing what you do while concurrently using your company name: @Brainzooming (Strategy, innovation, creativity, and social media ideas)


7. Incorporating your name brand plus credential (niche area of focus): @tracystewartcpa (A CPA PFS CFF CFP CDFA, collaborative neutral financial advisor)


8. Emphasizing your personal brand tagline: @ValueIntoWords (A certified master resume writer translating value into words. @Glassdoor career and workplace expert)


Tip No. 2: Follow a couple dozen people and begin sharing their content. This can start as simply as researching four or five of your favorite colleagues on Twitter and then following them. Tag along a few of the people they follow. Read through their tweets. Select a resonating tweet and share it using the “retweet” button. Or, better yet, create a personal introduction to the tweet and customize your share.


You can do this by copying/pasting the original tweet into a new tweet window and then typing in additional, value-add language to introduce the tweet. This will test your writing precision and editing skills because you likely will need to trim the original tweet (without changing the meaning), and have to create a brief, three- or four-word value-add remark, all while fitting into the 140-character limitations.


The following is an example of a tailored retweet of a blog post where the poster pulled out the takeaway message that she found most compelling.


Example of original tweet: “4 tips for better negotiations http://www.stumbleupon.com/to/s/73xwDS”


Example of tailored retweet: “‘Watch where you set your anchor’ + 3 more tips for better negotiations: http://bit.ly/VtqfOr by @twilli2861″


Tip No. 3. Tweet your own content. Once you get the hang of tweeting, consider developing your own original tweets. If you author a blog or guest post on other blogs, then it would be natural to share that content. If this isn’t the case, then create 140-character tips that apply to your area of expertise. So, for example, if you are a sales professional, you may want to prepare a sales tip to help your followers sell better, or you could share one thing not to do when trying to close a deal. In other words, consider what’s in it for the follower before composing a tweet, then offer practical advice they can immediately implement.


While Twitter can be a noisy playground with lots of equipment with which to experiment; e.g., TweetDeck, HootSuite, hashtags, Twitter chats, and such, don’t let that bog you down. Instead, target in on one area of that playground and start swinging. Let your legs fly, throw your head back. At the same time, play safely and courteously. You will find yourself exhilarated and playful, at the same time, growing your career muscle in communication and collaboration.


Jacqui Barrett-Poindexter is a Glassdoor career and workplace expert, chief career writer and partner with CareerTrend, and is one of only 28 Master Resume Writers (MRW) globally. Jacqui and her husband, “Sailor Rob,” host a lively careers-focused blog at http://careertrend.net/blog. Jacqui is a power Twitter user (@ValueIntoWords), listed on several “Best People to Follow” lists for job seekers.


Social Media News Headlines – Yahoo! News





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SAG Awards: Watch Live with PEOPLE









01/27/2013 at 09:30 AM EST



Happy Screen Actors Guild Awards!

On a night when the biggest stars of TV and film honor each other, we will be covering every inch of the red carpet beginning at 6 p.m. ET (3 p.m. PT) on our live pre-show, hosted by PEOPLE's Deputy Managing Editor Peter Castro and PEOPLE StyleWatch Managing Editor Susan Kaufman, right here on PEOPLE.com.

Join our @StyleWatchMag and @peoplemag Twitter party on Sunday to discuss the best dresses, the hottest hair and makeup and the most eye-popping jewels that nominees like Claire Danes, Jessica Chastain and Jennifer Lawrence will be wearing. Just use hashtag #PeopleSAG and your comments could appear on PEOPLE.com.

Once the show starts at 8 p.m. ET (5 p.m. PT), the fun continues as we track the winners, losers and best speeches of the night. PEOPLE editors and the stars, including Busy Phillips, will be Tweeting commentary, exclusive photos, behind-the-scenes tidbits and more on one of Hollywood's most heartfelt nights.

The 19th Annual Screen Actors Guild Awards will air live on TNT and TBS on Sunday, Jan. 27, at 8 p.m. ET (5 p.m. PT) from the Shrine Auditorium in Los Angeles. Be sure to join us!

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CDC: Flu seems to level off except in the West


New government figures show that flu cases seem to be leveling off nationwide. Flu activity is declining in most regions although still rising in the West.


The Centers for Disease Control and Prevention says hospitalizations and deaths spiked again last week, especially among the elderly. The CDC says quick treatment with antiviral medicines is important, in particular for the very young or old. The season's first flu case resistant to treatment with Tamiflu was reported Friday.


Eight more children have died from the flu, bringing this season's total pediatric deaths to 37. About 100 children die in an average flu season.


There is still vaccine available although it may be hard to find. The CDC has a website that can help.


___


CDC: http://www.cdc.gov/flu/


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Wall Street Week Ahead: Bears hibernate as stocks near record highs

NEW YORK (Reuters) - Stocks have been on a tear in January, moving major indexes within striking distance of all-time highs. The bearish case is a difficult one to make right now.


Earnings have exceeded expectations, the housing and labor markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of 2012, and money has returned to stock funds again.


The Standard & Poor's 500 Index <.spx> has gained 5.4 percent this year and closed above 1,500 - climbing to the spot where Wall Street strategists expected it to be by mid-year. The Dow Jones industrial average <.dji> is 2.2 percent away from all-time highs reached in October 2007. The Dow ended Friday's session at 13,895.98, its highest close since October 31, 2007.


The S&P has risen for four straight weeks and eight consecutive sessions, the longest streak of days since 2004. On Friday, the benchmark S&P 500 ended at 1,502.96 - its first close above 1,500 in more than five years.


"Once we break above a resistance level at 1,510, we dramatically increase the probability that we break the highs of 2007," said Walter Zimmermann, technical analyst at United-ICAP, in Jersey City, New Jersey. "That may be the start of a rise that could take equities near 1,800 within the next few years."


The most recent Reuters poll of Wall Street strategists estimated the benchmark index would rise to 1,550 by year-end, a target that is 3.1 percent away from current levels. That would put the S&P 500 a stone's throw from the index's all-time intraday high of 1,576.09 reached on October 11, 2007.


The new year has brought a sharp increase in flows into U.S. equity mutual funds, and that has helped stocks rack up four straight weeks of gains, with strength in big- and small-caps alike.


That's not to say there aren't concerns. Economic growth has been steady, but not as strong as many had hoped. The household unemployment rate remains high at 7.8 percent. And more than 75 percent of the stocks in the S&P 500 are above their 26-week highs, suggesting the buying has come too far, too fast.


MUTUAL FUND INVESTORS COME BACK


All 10 S&P 500 industry sectors are higher in 2013, in part because of new money flowing into equity funds. Investors in U.S.-based funds committed $3.66 billion to stock mutual funds in the latest week, the third straight week of big gains for the funds, data from Thomson Reuters' Lipper service showed on Thursday.


Energy shares <.5sp10> lead the way with a gain of 6.6 percent, followed by industrials <.5sp20>, up 6.3 percent. Telecom <.5sp50>, a defensive play that underperforms in periods of growth, is the weakest sector - up 0.1 percent for the year.


More than 350 stocks hit new highs on Friday alone on the New York Stock Exchange. The Dow Jones Transportation Average <.djt> recently climbed to an all-time high, with stocks in this sector and other economic bellwethers posting strong gains almost daily.


"If you peel back the onion a little bit, you start to look at companies like Precision Castparts , Honeywell , 3M Co and Illinois Tool Works - these are big, broad-based industrial companies in the U.S. and they are all hitting new highs, and doing very well. That is the real story," said Mike Binger, portfolio manager at Gradient Investments, in Shoreview, Minnesota.


The gains have run across asset sizes as well. The S&P small-cap index <.spcy> has jumped 6.7 percent and the S&P mid-cap index <.mid> has shot up 7.5 percent so far this year.


Exchange-traded funds have seen year-to-date inflows of $15.6 billion, with fairly even flows across the small-, mid- and large-cap categories, according to Nicholas Colas, chief market strategist at the ConvergEx Group, in New York.


"Investors aren't really differentiating among asset sizes. They just want broad equity exposure," Colas said.


The market has shown resilience to weak news. On Thursday, the S&P 500 held steady despite a 12 percent slide in shares of Apple after the iPhone and iPad maker's results. The tech giant is heavily weighted in both the S&P 500 and Nasdaq 100 <.ndx> and in the past, its drop has suffocated stocks' broader gains.


JOBS DATA MAY TEST THE RALLY


In the last few days, the ratio of stocks hitting new highs versus those hitting new lows on a daily basis has started to diminish - a potential sign that the rally is narrowing to fewer names - and could be running out of gas.


Investors have also cited sentiment surveys that indicate high levels of bullishness among newsletter writers, a contrarian indicator, and momentum indicators are starting to also suggest the rally has perhaps come too far.


The market's resilience could be tested next week with Friday's release of the January non-farm payrolls report. About 155,000 jobs are seen being added in the month and the unemployment rate is expected to hold steady at 7.8 percent.


"Staying over 1,500 sends up a flag of profit taking," said Jerry Harris, president of asset management at Sterne Agee, in Birmingham, Alabama. "Since recent jobless claims have made us optimistic on payrolls, if that doesn't come through, it will be a real risk to the rally."


A number of marquee names will report earnings next week, including bellwether companies such as Caterpillar Inc , Amazon.com Inc , Ford Motor Co and Pfizer Inc .


On a historic basis, valuations remain relatively low - the S&P 500's current price-to-earnings ratio sits at 15.66, which is just a tad above the historic level of 15.


Worries about the U.S. stock market's recent strength do not mean the market is in a bubble. Investors clearly don't feel that way at the moment.


"We're seeing more interest in equities overall, and a lot of flows from bonds into stocks," said Paul Zemsky, who helps oversee $445 billion as the New York-based head of asset allocation at ING Investment Management. "We've been increasing our exposure to risky assets."


For the week, the Dow climbed 1.8 percent, the S&P 500 rose 1.1 percent and the Nasdaq advanced 0.5 percent.


(Reporting by Ryan Vlastelica; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)



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The Surprising Style Item Adam Levine Likes to Wear




Style News Now





01/25/2013 at 02:00 PM ET



Adam Levine Men's HealthCourtesy Men’s Health


While some stars are repeat Fashion Faceoff offenders (we’re looking at you, Kim Kardashian), Adam Levine is determined to never be one of them. (Though the man really never should say never.)


In fact, his desire to have singular style is so strong that he won’t even pick up a plain old tee at a regular store for fear that another dude owns it. “I don’t want to buy a T-shirt and then go out to lunch and see someone else wearing the same thing,” Levine says in the new issue of Men’s Health. “I want my clothes to be unique. Not necessarily expensive, just one of a kind.”


So with that in mind, Levine puts a lot of thought into selecting those T-shirts. And even though they might look like basic Hanes to everyone else, what’s important to him is that he knows they’re not. The singer usually finds the tops at vintage shops because, “I also want them to have a story, a history, some meaning.”


In addition to his tees with history, the Maroon 5 frontman loves formalwear, saying, “[At] night I’ll throw on a suit and go out looking like a businessman.”



But it’s what he wears when he’s not on the red carpet or taping The Voice that really left us surprised — when he relaxes at home, Levine prefers something a bit, well, tighter. “I love waking up, throwing on some yoga pants, and hanging out all day looking like a psycho,” the singer reveals. His words, not ours.


For more Levine, pick up the March issue of Men’s Health, on newsstands Feb. 5. Tell us: Do you like Levine’s style? What do you think of guys wearing yoga pants?


Adam Levine Men's Health CoverCourtesy Men’s Health


–Jennifer Cress


PHOTOS: SEE MORE STAR STYLE IN ‘LAST NIGHT’S LOOK’


Read More..

CDC: Flu seems to level off except in the West


New government figures show that flu cases seem to be leveling off nationwide. Flu activity is declining in most regions although still rising in the West.


The Centers for Disease Control and Prevention says hospitalizations and deaths spiked again last week, especially among the elderly. The CDC says quick treatment with antiviral medicines is important, in particular for the very young or old. The season's first flu case resistant to treatment with Tamiflu was reported Friday.


Eight more children have died from the flu, bringing this season's total pediatric deaths to 37. About 100 children die in an average flu season.


There is still vaccine available although it may be hard to find. The CDC has a website that can help.


___


CDC: http://www.cdc.gov/flu/


Read More..

Wall Street Week Ahead: Bears hibernate as stocks near record highs

NEW YORK (Reuters) - Stocks have been on a tear in January, moving major indexes within striking distance of all-time highs. The bearish case is a difficult one to make right now.


Earnings have exceeded expectations, the housing and labor markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of 2012, and money has returned to stock funds again.


The Standard & Poor's 500 Index <.spx> has gained 5.4 percent this year and closed above 1,500 - climbing to the spot where Wall Street strategists expected it to be by mid-year. The Dow Jones industrial average <.dji> is 2.2 percent away from all-time highs reached in October 2007. The Dow ended Friday's session at 13,895.98, its highest close since October 31, 2007.


The S&P has risen for four straight weeks and eight consecutive sessions, the longest streak of days since 2004. On Friday, the benchmark S&P 500 ended at 1,502.96 - its first close above 1,500 in more than five years.


"Once we break above a resistance level at 1,510, we dramatically increase the probability that we break the highs of 2007," said Walter Zimmermann, technical analyst at United-ICAP, in Jersey City, New Jersey. "That may be the start of a rise that could take equities near 1,800 within the next few years."


The most recent Reuters poll of Wall Street strategists estimated the benchmark index would rise to 1,550 by year-end, a target that is 3.1 percent away from current levels. That would put the S&P 500 a stone's throw from the index's all-time intraday high of 1,576.09 reached on October 11, 2007.


The new year has brought a sharp increase in flows into U.S. equity mutual funds, and that has helped stocks rack up four straight weeks of gains, with strength in big- and small-caps alike.


That's not to say there aren't concerns. Economic growth has been steady, but not as strong as many had hoped. The household unemployment rate remains high at 7.8 percent. And more than 75 percent of the stocks in the S&P 500 are above their 26-week highs, suggesting the buying has come too far, too fast.


MUTUAL FUND INVESTORS COME BACK


All 10 S&P 500 industry sectors are higher in 2013, in part because of new money flowing into equity funds. Investors in U.S.-based funds committed $3.66 billion to stock mutual funds in the latest week, the third straight week of big gains for the funds, data from Thomson Reuters' Lipper service showed on Thursday.


Energy shares <.5sp10> lead the way with a gain of 6.6 percent, followed by industrials <.5sp20>, up 6.3 percent. Telecom <.5sp50>, a defensive play that underperforms in periods of growth, is the weakest sector - up 0.1 percent for the year.


More than 350 stocks hit new highs on Friday alone on the New York Stock Exchange. The Dow Jones Transportation Average <.djt> recently climbed to an all-time high, with stocks in this sector and other economic bellwethers posting strong gains almost daily.


"If you peel back the onion a little bit, you start to look at companies like Precision Castparts , Honeywell , 3M Co and Illinois Tool Works - these are big, broad-based industrial companies in the U.S. and they are all hitting new highs, and doing very well. That is the real story," said Mike Binger, portfolio manager at Gradient Investments, in Shoreview, Minnesota.


The gains have run across asset sizes as well. The S&P small-cap index <.spcy> has jumped 6.7 percent and the S&P mid-cap index <.mid> has shot up 7.5 percent so far this year.


Exchange-traded funds have seen year-to-date inflows of $15.6 billion, with fairly even flows across the small-, mid- and large-cap categories, according to Nicholas Colas, chief market strategist at the ConvergEx Group, in New York.


"Investors aren't really differentiating among asset sizes. They just want broad equity exposure," Colas said.


The market has shown resilience to weak news. On Thursday, the S&P 500 held steady despite a 12 percent slide in shares of Apple after the iPhone and iPad maker's results. The tech giant is heavily weighted in both the S&P 500 and Nasdaq 100 <.ndx> and in the past, its drop has suffocated stocks' broader gains.


JOBS DATA MAY TEST THE RALLY


In the last few days, the ratio of stocks hitting new highs versus those hitting new lows on a daily basis has started to diminish - a potential sign that the rally is narrowing to fewer names - and could be running out of gas.


Investors have also cited sentiment surveys that indicate high levels of bullishness among newsletter writers, a contrarian indicator, and momentum indicators are starting to also suggest the rally has perhaps come too far.


The market's resilience could be tested next week with Friday's release of the January non-farm payrolls report. About 155,000 jobs are seen being added in the month and the unemployment rate is expected to hold steady at 7.8 percent.


"Staying over 1,500 sends up a flag of profit taking," said Jerry Harris, president of asset management at Sterne Agee, in Birmingham, Alabama. "Since recent jobless claims have made us optimistic on payrolls, if that doesn't come through, it will be a real risk to the rally."


A number of marquee names will report earnings next week, including bellwether companies such as Caterpillar Inc , Amazon.com Inc , Ford Motor Co and Pfizer Inc .


On a historic basis, valuations remain relatively low - the S&P 500's current price-to-earnings ratio sits at 15.66, which is just a tad above the historic level of 15.


Worries about the U.S. stock market's recent strength do not mean the market is in a bubble. Investors clearly don't feel that way at the moment.


"We're seeing more interest in equities overall, and a lot of flows from bonds into stocks," said Paul Zemsky, who helps oversee $445 billion as the New York-based head of asset allocation at ING Investment Management. "We've been increasing our exposure to risky assets."


For the week, the Dow climbed 1.8 percent, the S&P 500 rose 1.1 percent and the Nasdaq advanced 0.5 percent.


(Reporting by Ryan Vlastelica; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)



Read More..