Deadly West Side shooting spills over onto Eisenhower













 


 
(Tribune illustration)


























































A male was shot and killed about 4:30 a.m. in the South Austin neighborhood, police said.


The shooting happened near a gas station in the 5200 block of West Jackson Boulevard, Chicago Police News Affairs Officer Hector Alfaro said.


Following the shooting, the male either drove or was driven to the 600 block of South Kostner Avenue, near the entrance to the Eisenhower Expressway.





He was taken from there to Mount Sinai Hospital, where he was pronounced dead on arrival.


Check back for more information.


chicagobreaking@tribune.com


Twitter: @ChicagoBreaking







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Decision on immunity for U.S. troops by year-end: Karzai


KABUL (Reuters) - A decision on immunity for U.S. troops staying in Afghanistan after the 2014 planned withdrawal will be made by the end of the year, Afghan President Hamid Karzai said on Monday.


"The issue of immunity is under discussion (and) it is going to take eight to nine months before we reach agreement," Karzai told a news conference in the capital, Kabul, after returning from meetings with U.S. President Barack Obama in Washington.


The Afghan government rejected an initial U.S. proposal regarding the question of immunity and a second round of negotiations will take place this year in Kabul, he said.


Those negotiations could involve Afghanistan's Loya Jirga, a "grand assembly" of political and community leaders convened for issues of national importance, he added.


When asked if security would deteriorate in Afghanistan after the withdrawal of the NATO-led force, Karzai replied: "By no means... Afghanistan will be more secure and a better place."


The Obama administration has been considering a residual force of between 3,000 and 9,000 troops in Afghanistan to conduct counterterrorism operations while providing training and assistance for Afghan forces. But the administration said last week it did not rule out a complete withdrawal after 2014.


The United States is insisting on immunity from prosecution for any U.S. troops that remain.


(Reporting By Hamid Shalizi, writing by Amie Ferris-Rotman and Dylan Welch; Editng by Robert Birsel)



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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.


The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.


Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.


An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.


"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


"What we're looking for is demand. Demand from small business owners, from consumers."


EARNINGS AND ECONOMIC EXPECTATIONS


Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.


Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.


Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.


Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.


HOUSING, INDUSTRIAL DATA ON TAP


Next week will also feature the release of a wide range of economic data.


Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.


Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.


Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.


"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."


POLITICAL ANXIETY


Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.


The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.


Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.


The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.


"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.


The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.


"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."


(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)



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Ravens shock Broncos; 49ers rout Packers


The 49ers and Ravens are getting another shot at making the Super Bowl.


Losers in tight conference championship games a year ago, they are returning to the final step before the big game in the Big Easy after wins Saturday.


Baltimore took the long, frigid route, rallying at Denver for a 38-35 victory in an AFC divisional playoff. The Ravens will go to either New England, where they lost 23-20 in the conference championship match last January, or Houston. The Patriots and Texans face off Sunday in Foxborough, Mass.


San Francisco took the NFC game at night 45-31 over Green Bay behind the running and passing of quarterback Colin Kaepernick. That gave both coaching Harbaughs victories Saturday: Jim with the 49ers, John with the Ravens.


San Francisco fell in overtime to the New York Giants for the NFC title last year. The Niners will either visit Atlanta or host Seattle in next weekend's championship matchup.


The wild-card Seahawks are at the Falcons in Sunday's early game.


Second-year QB Kaepernick made Jim Harbaugh's decision to stick with him over incumbent Alex Smith during the season look brilliant. He set a playoff mark for the position by rushing for 183 yards, including a 56-yard TD, and threw for 263 yards. Kaepernick hit Michael Crabtree for two scores and Frank Gore rushed for 119 yards.


The AFC West champion Niners (12-4-1) gained 579 yards.


"It feels like we're in the same place," Crabtree said. "Winning that game last year, we're in the same place. It's just what we do the next game. It's all about the next game."


The NFC North-winning Packers (12-6) beat Minnesota in the wild-card round last weekend, but their defense was overmatched at San Francisco.


Aaron Rodgers finished 26 for 39 for 257 with two TDs and an interception.


Ravens 38, Broncos 35, 2 OT


Rookie Justin Tucker's 47-yard field goal 1:42 into the second overtime of the longest playoff game in 26 years advanced the Ravens and kept star linebacker Ray Lewis' career going at least another week.


Earlier this season, the AFC North champ Ravens (12-6) beat the Patriots 31-30 in Baltimore. They lost 43-13 at Houston.


Joe Flacco's 70-yard heave to Jacoby Jones with 31 seconds remaining forced the overtime. Flacco is the only quarterback to win playoff games in each of his first five seasons, and he heads to his third AFC championship match. He also lost to Pittsburgh in the 2008 title game.


"We fought hard to get back to this point and we're definitely proud of being here." Flacco said. "We feel like it's going to take a lot for somebody to come and kick us off that field come the AFC championship game."


Lewis announced before they beat Indianapolis in the wild-card round that this was the last of his 17 pro seasons. It's still going.


"When you look back at it and let the emotions calm down, it will probably be one of the greatest victories in Ravens history," Lewis said. "It's partly because of the way everything was stacked against us coming in."


Peyton Manning lost in his first postseason appearance with the AFC West-winning Broncos (13-4), who had won their last 11 games to earn home-field advantage in the playoffs. They wasted it by giving up long plays, negating a record-setting performance by kick returner Trindon Holliday.


Holliday ran back the second-half kickoff 104 yards for a TD. He went 90 yards with a first-quarter punt return to become the first player to score on one of each in a playoff game.


"He's one of the greatest quarterbacks of all time and for us to come in here and confuse him the way we did, and make the plays we did?" Lewis said. "We gave up two big special teams touchdowns, but the bottom line is, but we kept fighting."


Seahawks (12-5) at Falcons (13-3)


Oddly, there might be more doubts floating around the home team with the spiffy record than the visitors.


While Seattle has won six in a row, erased its reputation as a road flop with three straight away victories — including last week at Washington — and has the league's stingiest defense.


It's NFC South champ Atlanta, 0-3 in the postseason under coach Mike Smith and with Matt Ryan at quarterback, that probably faces more pressure.


"We've been disappointed a few times," said center Todd McClure, a Falcon for 13 years. "I think we've got guys in this locker room who are hungry and ready to get over that hump."


One of them is Tony Gonzalez, the career leader in nearly all receiving categories among tight ends. In 16 pro seasons, Gonzalez never has won a playoff game. And he's said this very likely is his final year in the NFL.


"I'm not going to lie to you," he said. "I really, really, really want to win this game."


To get it, Gonzalez, Ryan and star receivers Julio Jones and Roddy White must contend with the league's most physical defense, a unit that completely shut down the Redskins for three quarters in the 24-14 wild-card win.


"I expect our guys to try to play like they always play," Seattle coach Pete Carroll said. "They don't need to change anything because we're not doing anything different, we're going to try and hang with them, and we'll find out what happens."


Texans (13-4) at Patriots (12-4)


Houston's reward for its wild-card win over Cincinnati is a return to trip to Foxborough, where the Texans' late-season spiral began. Houston was in position for home-field advantage in the AFC before being routed 42-14 by the Patriots, then losing twice more in the final three games.


This is only the fourth postseason game in the Texans' 11-season NFL history. The Patriots began winning Super Bowls with Tom Brady before the Texans were born.


AFC South champion Houston must bring the fierce pass rush it often has shown with end J.J. Watt, who led the NFL with 20 1-2 sacks.


"Biggest goal of them all, Super Bowl, and this is a big step for us," Watt said, "and we're really excited about the challenge."


That challenge comes against the NFL's most prolific offense. The Texans and Patriots allowed the same number of points, 331, but AFC East winner New England led the NFL in scoring with 557 points, 34.8 per game.


Brady would surpass Joe Montana for most postseason victories by a quarterback by beating Houston. Brady is 16-6, although he began 10-0.


He isn't looking for a repeat of the Dec. 10 romp.


"Giving us an opportunity to have this game at home, I think that's the important thing about last game," Brady said. "Other than that, this is going to be a whole different game full of our own execution, our ability to try to beat a very good football team that's played well all year."


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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EPA issues Shell violation notices






ANCHORAGE, Alaska (AP) — The Environmental Protection Agency has issued Royal Dutch Shell PLC notices of air quality violations for emissions involving its Arctic drilling operation in 2012.


The EPA late Thursday issued the notices saying that Shell violated permits for nitrous oxides emissions coming from its drill rig and drill ship. The federal agency says Shell had multiple permit violations for each ship.






The two ships are the drill rig Kulluk, which recently grounded near Kodiak Island when it was being towed to Seattle for maintenance and broke free in a storm. The damaged drill rig has been refloated and taken to a sheltered harbor. The drill ship Noble Discoverer remains in Seward after the Coast Guard found safety problems.


Shell is trying to revise its air permit to operate in the Arctic.


Energy News Headlines – Yahoo! News





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Quest: U.S. economy to dominate Davos




The United States and the sorry state of its political and budgetary process will be the center of attention at Davos, writes Quest




STORY HIGHLIGHTS


  • Quest: Davos is a chance to see where the political and economic landmines are in 2013

  • Quest: People will be speculating about how dysfunctional the U.S. political process has become

  • Quest: Davos has been consumed by eurozone sovereign debt crises for three years




Editor's note: Watch Quest Means Business on CNN International, 1900pm GMT weekdays. Quest Means Business is presented by CNN's foremost international business correspondent Richard Quest. Follow him on Twitter.


(CNN) -- It is that time of the year, again. Come January no sooner have the Christmas trees been taken down, as the winter sales are in full vicious flood the world of business start thinking about going to the world economic forum, better known as Davos.


For the past three years Davos has been consumed by the eurozone sovereign debt crises.


As it worsened the speculation became ever more frantic.....Will Greece leave the euro? Will the eurozone even survive? Was this all just a big German trick to run Europe? More extreme, more dramatic, more nonsense.


Can China be the biggest engine of growth for the global economy. Round and round in circles we have gone on these subjects until frankly I did wonder if there was anything else to say short of it's a horrible mess!


This year there is a new bogey man. The US and in particular the sorry state of the country's political and budgetary process will, I have little doubt, be the center of attention.


Read more: More 'cliffs' to come in new Congress


Not just because Congress fluffed its big test on the fiscal cliff, but because in doing so it created many more deadlines, any one of which could be deeply unsettling to global markets... There is the $100 billion budget cutbacks postponed for two months by the recent agreement; postponed to the end of February.


At exactly the same time as the US Treasury's ability to rob Peter to pay Paul on the debt ceiling crises comes to a head.


Read more: Both Obama, GOP set for tough talks ahead


The Treasury's "debt suspension period" is an extraordinary piece of financial chicanery that if we tried it with our credit cards would get us locked up!! Then there is the expiration of the latest continuing resolution, the authority by which congress is spending money.


There is the terrifying prospect that all these budget woes will conflate into one big political fist fight as the US faces cutbacks, default or shutdown!!


I am being alarmist. Most rational people believe that the worst sting will be taken out of this tail....not before we have all been to the edge...and back. And that is what Davos will have on its mind.


People will be speculating about how dysfunctional the US political process has become and is it broken beyond repair (if they are not asking that then they should be...)




They will be pondering which is more serious for risk...the US budget and debt crises or the Eurozone sovereign debt debacle. A classic case of between the devil and the deep blue sea.




The official topic this year is Resilient Dynamism. I have absolutely no idea what this means. None whatsoever. It is another of WEF's ersatz themes dreamt up to stimulate debate in what Martin Sorrell has beautifully terms "davosian language" In short everyone interprets it as they will.




What I will enjoy, as I do every year, is the chance to hear the global players speak and the brightest and best thinkers give us their take on the global problems the atmosphere becomes febrile as the rock-stars of finance and economics give speeches, talk on panels and give insight.




Of course comes of these musings, it never does at Davos. That's not the point. This is a chance to take stock and see where the political and economic landmines are in 2013. I like to think of Davos as the equivalent of Control/Alt/Delete. It allows us to reboot.


We leave at least having an idea of where people stand on the big issues provided you can see through the panegyrics of self congratulatory back slapping that always takes place whenever you get like minded people in one place... And this year, I predict the big issue being discussed in coffee bars, salons and fondue houses will be the United States and its budgetary woes.







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2 dead, 1 hurt after head-on crash on Far South Side













Head-on crash


A head-on crash killed two people early this morning in the Mount Greenwood neighborhood on the Far South Side.
(January 13, 2013)



























































A head-on crash killed two people early this morning in the Mount Greenwood neighborhood on the Far Southwest Side, authorities said.


The crash occurred about 2:20 a.m. in the 3400 block of West 115th Street, Chicago Police Department News Affairs Officer Hector Alfaro said.


It appeared that a vehicle crossed a center line before colliding with a vehicle traveling in the opposite direction, police said.





The Cook County medical examiner's office confirmed that two males were killed in the collision. Authorities are still in the process of notifying family members.


A female was also taken to a local hospital, where she was listed in serious condition.


chicagobreaking@tribune.com


Twitter: @ChicagoBreaking






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France bombs Mali rebels, African states ready troops


BAMAKO/PARIS (Reuters) - French aircraft pounded Islamist rebels in Mali for a second day on Saturday and neighboring West African states sped up their plans to deploy troops in an international campaign to prevent groups linked to al Qaeda expanding their power base.


France, warning that the control of northern Mali by the militants posed a security threat to Europe, intervened dramatically on Friday as heavily armed Islamist fighters swept southwards towards Mali's capital Bamako.


Under cover from French fighter planes and attack helicopters, Malian troops routed a rebel convoy and drove the Islamists out of the strategic central town of Konna, which they had seized on Thursday. A senior army officer in the capital Bamako said more than 100 rebel fighters had been killed.


A French pilot died on Friday when rebels shot down his helicopter near the town of Mopti. Hours after opening one front against al Qaeda-linked Islamists, France mounted a commando raid to try to rescue a French hostage held by al Shabaab militants in Somalia, also allied to al Qaeda, but failed to prevent the hostage being killed.


French President Francois Hollande made clear that France's aim in Mali was to support the West African troop deployment, which is also endorsed by the United Nations, the European Union and the United States.


Western countries in particular fear that Islamists could use Mali as a base for attacks on the West and expand the influence of al Qaeda-linked militants based in Yemen, Somalia and North Africa.


"We've already held back the progress of our adversaries and inflicted heavy losses on them," Hollande said. "Our mission is not over yet."


A resident in the northern city of Gao, one of the Islamists' strongholds, reported scores of rebel fighters were retreating northward in pickup trucks on Saturday.


"The hospital here is overwhelmed with injured and dead," he said, asking not to be identified for fear of reprisals.


In Konna, a shopkeeper reported seeing scores of dead Islamist fighters piled in the streets, as well as the bodies of dozens of uniformed soldiers.


A senior official with Mali's presidency announced on state television that 11 Malian soldiers had been killed in the battle for Konna, with around 60 others injured.


Human Rights Watch said around 10 civilians had died in the violence, including three children who drowned trying to cross a river to safety. It said other children recruited to fight for the Islamists had been injured.


With Paris urging West African nations to send in their troops quickly, Ivory Coast President Alassane Ouattara, chairman of the regional bloc ECOWAS, kick-started a U.N.-mandated operation to deploy some 3,300 African soldiers.


TROOPS BY MONDAY


The mission had not been expected to start until September.


"By Monday at the latest, the troops will be there or will have started to arrive," said Ali Coulibaly, Ivory Coast's African Integration Minister. "Things are accelerating ... The reconquest of the north has already begun."


The multinational force is expected to be led by Nigerian Major-General Shehu Abdulkadir and draw heavily on troops from West Africa's most populous state. Burkina Faso, Niger and Senegal each announced they would send 500 soldiers.


French army chief Edouard Guillaud said France had no plan to chase the Islamists into the north with land troops, and was waiting for ECOWAS forces. France has deployed some special forces units to the central town of Mopti and sent hundreds of soldiers to Bamako in "Operation Serval" - named after an African wildcat.


Concerned about reprisals on French soil, Hollande announced he had instructed Prime Minister Jean-Marc Ayrault to tighten security in public buildings and on public transport in France.


Hollande's intervention in Mali could endanger eight French nationals being held by Islamists in the Sahara. A spokesman for one of Mali's rebel groups, Ansar Dine, said there would be repercussions.


"There are consequences, not only for French hostages, but also for all French citizens, wherever they find themselves in the Muslim world," Sanda Ould Boumama told Reuters. "The hostages are facing death."


The French Defense Ministry said its failed bid on Friday night to rescue a French intelligence officer held hostage in Somalia since 2009 was unrelated to events in Mali.


The ministry said it believed the officer had been killed by his captors along with at least one French commando. But the Harakat Al-Shabaab Al-Mujahideen insurgent group that was holding Denis Allex said he was alive and being held at a location far from the raid.


RED ALERT


The French Foreign Ministry stepped up its security alert on Mali and parts of neighboring Mauritania and Niger on Friday, extending its red alert - the highest level - to include Bamako.


France advised its 6,000 citizens in Mali to leave. Thousands more French live across West Africa, particularly in Senegal and Ivory Coast.


European Union foreign policy chief Catherine Ashton on Friday urged an "accelerated international engagement" and said the bloc would speed up plans to deploy 200 troops to train Malian forces.


A U.S. official said the Pentagon was weighing options such as intelligence-sharing with France and logistics support. French officials suggest U.S. surveillance capacity, including unmanned drones, would prove valuable in vast northern Mali.


In Britain, a spokesman said Prime Minister David Cameron had spoken to Hollande to express support for France's intervention and to offer two C-17 transport planes to assist the mission.


He said both men discussed "the need to work with the Malian government, regional neighbors and international partners to prevent a new terrorist haven developing on Europe's doorstep and to reinvigorate the U.N.-led political process once the rebel advance has been halted".


Military analysts voiced doubt, however, about whether Friday's action was the start of a swift operation to retake northern Mali - a harsh, sparsely populated terrain the size of France - as neither equipment nor ground troops were ready.


"We're not yet at the big intervention," said Mark Schroeder, of the risk and security consultancy Stratfor.


More than two decades of peaceful elections had earned Mali a reputation as a bulwark of democracy - but that image unraveled in a matter of weeks after a military coup last March that paved the way for the Islamist rebellion.


Interim President Dioncounda Traore, under pressure for bolder action from Mali's military, declared a state of emergency on Friday. Traore cancelled a long-planned official trip to Paris on Wednesday because of the violence.


"Every Malian must henceforth consider themselves a soldier," he said on state TV.


On the streets of Bamako, some cars were driving around with French flags draped from the windows to celebrate Paris's intervention.


"It's thanks to France that Mali will emerge from this crisis," said student Mohamed Camera. "This war must end now."


(Additional reporting Adama Diarra, Tiemoko Diallo and Rainer Schwenzfeier in Bamako, Mathieu Bonkoungou in Ouagadougou, Joe Bavier in Abidjan and Elizabeth Pineau in Paris; Editing by Daniel Flynn and Kevin Liffey)



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Wall Street Week Ahead: Attention turns to financial earnings

NEW YORK (Reuters) - After over a month of watching Capitol Hill and Pennsylvania Avenue, Wall Street can get back to what it knows best: Wall Street.


The first full week of earnings season is dominated by the financial sector - big investment banks and commercial banks - just as retail investors, free from the "fiscal cliff" worries, have started to get back into the markets.


Equities have risen in the new year, rallying after the initial resolution of the fiscal cliff in Washington on January 2. The S&P 500 on Friday closed its second straight week of gains, leaving it just fractionally off a five-year closing high hit on Thursday.


An array of financial companies - including Goldman Sachs and JPMorgan Chase - will report on Wednesday. Bank of America and Citigroup will join on Thursday.


"The banks have a read on the economy, on the health of consumers, on the health of demand," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


"What we're looking for is demand. Demand from small business owners, from consumers."


EARNINGS AND ECONOMIC EXPECTATIONS


Investors were greeted with a slightly better-than-anticipated first week of earnings, but expectations were low and just a few companies reported results.


Fourth quarter earnings and revenues for S&P 500 companies are both expected to have grown by 1.9 percent in the past quarter, according to Thomson Reuters I/B/E/S.


Few large corporations have reported, with Wells Fargo the first bank out of the gate on Friday, posting a record profit. The bank, however, made fewer mortgage loans than in the third quarter and its shares were down 0.8 percent for the day.


The KBW bank index <.bkx>, a gauge of U.S. bank stocks, is up about 30 percent from a low hit in June, rising in six of the last eight months, including January.


Investors will continue to watch earnings on Friday, as General Electric will round out the week after Intel's report on Thursday.


HOUSING, INDUSTRIAL DATA ON TAP


Next week will also feature the release of a wide range of economic data.


Tuesday will see the release of retail sales numbers and the Empire State manufacturing index, followed by CPI data on Wednesday.


Investors and analysts will also focus on the housing starts numbers and the Philadelphia Federal Reserve factory activity index on Thursday. The Thomson Reuters/University of Michigan consumer sentiment numbers are due on Friday.


Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, said he expected to see housing numbers continue to climb.


"They won't be that surprising if they're good, they'll be rather eye-catching if they're not good," he said. "The underlying drive of the markets, I think, is economic data. That's been the catalyst."


POLITICAL ANXIETY


Worries about the protracted fiscal cliff negotiations drove the markets in the weeks before the ultimate January 2 resolution, but fear of the debt ceiling fight has yet to command investors' attention to the same extent.


The agreement was likely part of the reason for a rebound in flows to stocks. U.S.-based stock mutual funds gained $7.53 billion after the cliff resolution in the week ending January 9, the most in a week since May 2001, according to Thomson Reuters' Lipper.


Markets are unlikely to move on debt ceiling news unless prominent lawmakers signal that they are taking a surprising position in the debate.


The deal in Washington to avert the cliff set up another debt battle, which will play out in coming months alongside spending debates. But this alarm has been sounded before.


"The market will turn the corner on it when the debate heats up," Prudential Financial's Krosby said.


The CBOE Volatility index <.vix> a gauge of traders' anxiety, is off more than 25 percent so far this month and it recently hit its lowest since June 2007, before the recession began.


"The market doesn't react to the same news twice. It will have to be more brutal than the fiscal cliff," Krosby said. "The market has been conditioned that, at the end, they come up with an agreement."


(Reporting by Gabriel Debenedetti; editing by Rodrigo Campos)



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Durant's 42 helps send Lakers to 6th straight loss


LOS ANGELES (AP) — Kevin Durant hit a 3-pointer in the final second of the first half and did a full reverse somersault to celebrate a 16-point lead. The Thunder were running the Lakers out of their own building, and not even Kobe Bryant could stop them.


Oklahoma City is again clearly among the best teams in the Western Conference, and the struggling Lakers may not have enough time left in the season to join them.


Durant scored a season-high 42 points, Russell Westbrook had 27 points and 10 assists, and Oklahoma City easily sent the short-handed Lakers to their sixth straight loss, 116-101 on Friday night.


Kevin Martin scored 15 points and hit three 3-pointers for the Thunder, who romped to a 27-point lead in the second half. Oklahoma City has won seven of nine, while Los Angeles is on its longest skid since March 2007 while playing without injured stars Dwight Howard and Pau Gasol.


Oklahoma City (28-8) matched the Clippers for the NBA's best record — and the Thunder made it look easy with a virtuoso game from Durant, who had 38 points midway through the third quarter.


"Coming in here, it's tough to win no matter what," Durant insisted after the Thunder coasted down the stretch. "We did a great job of just playing together at both ends of the floor all night and not taking those guys lightly. They've got two of the best players in the world out, so we just wanted to come out and have a good game."


They had a bit more than a good game. Durant hit four 3-pointers and his usual array of athletic shots whenever he wanted, while Westbrook finished three rebounds shy of a triple-double while playing less than 35 minutes.


The Thunder only had three scorers in double figures, but that was more than enough.


Westbrook, a Los Angeles native, has little sympathy for the Lakers.


"They're not done. They have a lot more games left, and I'm pretty sure they're going to find a way to get it together," Westbrook said. "Our job is to worry about our team and our organization. It wasn't easy. I just think we did a good job of playing team basketball defensively, and it showed. Kevin took control most of the game."


The Lakers (15-21) hadn't lost this many consecutive games since the year before they acquired Gasol and embarked on a run to three straight NBA finals. With Cleveland and Milwaukee visiting over the next four days, the Lakers have a chance to get competitive again — but they're facing an uphill climb just to get into playoff contention.


"I told the team, the biggest thing is our season starts Sunday," coach Mike D'Antoni said. "We've got to make a run. We've got one shot at it, and everybody needs to get ready mentally and physically. From there on, we can't make any more false steps. That's just how it is. We put ourselves in this ditch, and we're the only ones that can get it out, and hopefully we can get some guys back and start our season Sunday."


Bryant scored 28 points and Antawn Jamison added 19 against Oklahoma City, but Los Angeles looked lost and overmatched in its third straight game without Howard and Gasol.


The Thunder eliminated Bryant and the Lakers from last season's playoffs in five games, and Los Angeles has shown few signs of being able to compete with the defending conference champions this season. Injuries aren't the only problem, but Howard likely is out for at least another week with a shoulder injury, while Gasol still hasn't been cleared to return from his concussion.


"We're just very frustrated and upset about what we're going through right now, and how we're playing," Bryant said. "We're going to have to make some big adjustments if we're going to be successful. We gave up about 120 points tonight, and a lot of them were just layups and easy looks at the rim."


Steve Nash had seven points and seven assists in a quiet 30 minutes for the Lakers, who announced during the second quarter that backup big man Jordan Hill likely needs season-ending surgery on his left hip. Metta World Peace added 12 points, going 1 for 9 on 3-point attempts.


"We showed some fight, but we just were a little overmatched," Nash said. "They're bigger than us at almost every position. Kevin got hot, and we couldn't contain him in the second quarter. As the game wore on, I just think the difference in depth and quality took over."


NOTES: Before the game, Bryant and his wife, Vanessa, announced they've called off their divorce proceedings. Vanessa Bryant filed for divorce in December 2011. ... The teams meet again at Staples Center on Jan. 27. Oklahoma City also visits to face the Clippers on Jan. 22. ... Charlize Theron, Adam Sandler, Robin Thicke, Floyd Mayweather Jr., Mehmet Oz and Chad Johnson watched the game from courtside.


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