Sep 18, 2012
September 18, 2012
By DAVID M. HERSZENHORN
The Kremlin views American financial support for a wide range of civil society programs as thinly veiled meddling in the country's internal affairs.
By ROD NORDLAND and SANGAR RAHIMI
A suicide bomber killed 14 people on Tuesday including 10 foreigners, most of whom worked as flight crew members under contract with the United States government.
By MATTHEW ROSENBERG
A spike in attacks on international troops by Afghan soldiers and police pushed the American-led military coalition to curb ground operations with their Afghan counterparts.
By STEVEN LEE MYERS
Daw Aung San Suu Kyi began a trip to the United States that is a sign of the great shift in relations in the past year.
By EDWARD WONG
The police chief, Wang Lijun, confessed to the most serious charge against him, defection, and did not contest the other three charges - abuse of power, taking bribes and bending the law for personal gain, a court spokesman said.
By TIM ARANGO
Although many Turks at first agreed with their government's support for the Syrian opposition, many now believe it is undermining Turkey's economy and security.
SAN FRANCISCO (MarketWatch) — Most U.S. stocks slipped for a second day with the Dow industrials posting a fractional gain Tuesday as a gauge of home-builder sentiment showed improvement in September and shipper FedEx Corp. reduced its profit forecast.
On Tuesday, the S&P 500 index SPX -0.13% shed 1.87 points, or 0.1%, to close at 1,459.32, with energy the hardest hit and consumer staples the best performer of its 10 major sectors.
Similarly, the Nasdaq Composite COMP -0.03% declined 0.87 points to close at 3,177.80.
The Dow Jones Industrial Average DJIA +0.09% , however, gained 11.54 points, or 0.1%, to close at 13,564.64, with Kraft Foods Inc. KFT -0.06% the best performer and Alcoa Inc. AA -0.94% the worst.
“The rally is a bit overheated at this point, there’s a growing disconnect in terms of what the market is doing and what the underlying economy is doing. Most recently, FedEx is reiterating that point for us, cutting its global outlook for the economy,” said Dave Abate, senior wealth adviser at Strategic Wealth Partners in Seven Hills, Ohio.
FedEx FDX -3.06% shares dropped 3.1% after the package-delivery company lowered its anticipated earnings for its fiscal year, citing the softening global economy. Read more on FedEx.
Given the market’s extended run, it’s no surprise that investors are now opting to “consolidate some of these gains,” said Bruce Bittles, chief investment strategist at RW Baird & Co.
A retreat is likely to be mild, possibly back to 1,400 or so on the S&P 500 index SPX -0.13% , he said.
“Most of the market is in gear technically, the small cap and even the midcap that were lagging a month ago have now caught up with the Dow industrials and S&P 500,” said Bittles.
Small stocks as measured by the Russell 2000 RUT -0.23% recently broke through their March high, as did the S&P 500 Mid-Cap 400 index MID -0.63% The Russell 2000 closed down 0.2% and the S&P Mid Cap 400 declined 0.6% Tuesday.
Investors have recently shifted from defensive sectors, including utilities and health care, into aggressive industry groups like energy, technology and materials, Bittles added.
For every 13 stocks rising 17 declined on the New York Stock Exchange, where about 630 million shares traded by the close. Composite volume topped 3.2 billion, below the September average daily volume of 3.8 billion.
The U.S. dollar DXY +0.29% gained against other currencies, including the euro EURUSD -0.01% . Treasury prices climbed for a second day, with the 10-year yield 10_YEAR -1.79% falling 3 basis points to 1.815%. Read more on bonds.
On the New York Mercantile Exchange, the price of oil CLV2 -1.23% fell for a second session, losing $1.33 to end at $95.29 a barrel.. Read more on oil futures.
Apple Inc. AAPL +0.30% shares hit $700 for the first time a day after the consumer-technology company said orders for its iPhone 5 exceeded 2 million in the first 24 hours.
The National Association of Home Builders/Wells Fargo housing-market index gained 3 points to a seasonally-adjusted reading of 40 in September, the highest the index has been since June 2006. Read more on housing data.
“Housing continues to see improvement, with the Fed again trying to give it a further kick in the pants, but the pace and sustainability will still be uneven,” noted Peter Boockvar, an equity strategist at Miller Tabak.
The Commerce Department reported the current-account deficit shrank more than expected in the second quarter, aided by increased exports. Read more on current-account deficit.
In a speech prepared for delivery Tuesday in Michigan, Federal Reserve Bank of Chicago President Charles Evans said the Fed’s latest round of quantitative easing would help shield the U.S. recovery from Europe’s debt crisis and possible U.S. tax hikes and spending reductions. Read more on Evans’s speech.
Kate Gibson is a reporter for MarketWatch, based in New York. Wallace Witkowski is a MarketWatch news editor in San Francisco.
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Real Estate and Development
Economy and Finance
September 18, 2012
By JONATHAN HAIDT and MARC J. HETHERINGTON
Political polarization in America is at its highest level since the late 19th century. Can we do anything about it?
By CASS R. SUNSTEIN
Hearing both sides of an argument doesn't tend to sway those with rigid views.
Opinionator | Me, Myself and Math
By STEVEN STROGATZ
Why your friends seem to have more friends than you do: a mathematical explanation.
Proving which initiatives work could turn the state into a model for others on how to cut Medicaid without harming the beneficiaries.
An unnecessary strike is brought on by distrust and provocations from both the city and the teachers' union.
Legislators need to find a way to save the deteriorating Pier 40, one of the largest sources of revenue of the cherished Hudson River Park.
The Vatican could stop worrying about what Roman Catholic nuns are up to if it just looked at the work being done at Providence House in New York.
Read the full opinion report, including editorials, columns, op-eds and Opinionator. Go to the Section »
The Conscience of a Liberal
By PAUL KRUGMAN
Look at the middle-aged.
Mark Bittman Blog
The chairman of Stonyfield Organic weighs in on GMO labeling.