Wall Street stays afloat on firm data but HP drags

NEW YORK (Reuters) - Wall Street ended modestly higher on Wednesday on stronger-than-expected U.S. labor and service-sector data, but the Dow industrials were hobbled by a slide in Hewlett-Packard.

Shares of Hewlett-Packard dropped sharply after the company warned on Wednesday of a darker outlook for 2013 earnings, reflecting slow progress on CEO Meg Whitman's turnaround plan while technology spending sputters and driving its stock down 13 percent to a nine-year low.

The three major U.S. stock indexes, which initially got a modest lift from the positive data, came off their highs by late afternoon trade on lingering concerns about the global economy. A gloomier outlook in China and Europe weighed on commodity prices and hit energy and materials shares.

"The ADP numbers were good and the services index was good, but we are missing the big catalyst to keep the market up," said Jack De Gan, principal and senior advisor at Harbor Advisory in Portsmouth, New Hampshire.

"The next big catalyst will be Friday's employment numbers, if we don't get any news out of Europe on the progress of Spain's bailout before that."

Data showed growth in the U.S. services sector picked up in September, defying economists' expectations for a slight decrease, while last month, the private sector added more jobs than forecast. The data comes ahead of the closely watched monthly U.S. non-farm payrolls report on Friday.

The S&P's consumer discretionary sector index <.gspd> rose 0.8 percent, helped by stocks like Amazon , up 2.1 percent at $255.92, and homebuilders like PulteGroup , up 6 percent at $16.50.

But prices of crude and metals tumbled, pressuring stocks in the energy and basic materials sectors after the euro zone looked unable to dodge a recession based on a reading of purchasing managers indexes last month, and China's slowdown looked likely to extend to a seventh quarter.

The S&P energy index <.gspe> fell 1.1 percent. Chevron Corp also slipped 1.5 percent, falling to $116.14, and dragged on the Dow.

The Dow Jones industrial average <.dji> gained 12.25 points, or 0.09 percent, to 13,494.61 at the close. The Standard & Poor's 500 Index <.spx> advanced 5.24 points, or 0.36 percent, to 1,450.99. The Nasdaq Composite Index <.ixic> rose 15.19 points, or 0.49 percent, to close at 3,135.23.

Earlier in the session, the Dow climbed as high as 13,536.27, while the S&P 500 hit an intraday high at 1,454.30. The Nasdaq rose to an intraday high at 3,142.36.

HP, the largest U.S. technology company by revenue, forecast that its earnings will slide sharply next year, compared with Wall Street's expectations for flat profits. HP shares fell 13 percent to close at $14.91, after falling as low as $14.85.

But market participants say the impact of HP on other technology companies is limited.

"If you look at Apple and Google, they are pretty much doing well today. HP is basically on its own," said Ben Schwartz, chief market strategist at Lightspeed Trading LLC in Chicago.

Apple shares rose 1.5 percent to $671.45, and Google shares gained 0.7 percent to $762.50.

Best Buy shares gained 4.7 percent to $17.76 as founder Richard Schulze and at least four private-equity firms started examining its books, in early steps toward what could become an $11 billion buyout.

The S&P 500 ended September with its fourth-straight month of gains, adding roughly 11 percent since the end of May.

"The market has lifted meaningfully since June 1st, and it has taken the last couple of weeks to consolidate those gains," said Jim Russell, chief equity strategist at U.S. Bank Wealth Management in Cincinnati.

The proportion of bullish U.S. investment advisors fell below 50 percent for the first time in five weeks, hitting 46.8 percent in the latest week versus 51 percent the previous week, according to a survey by Investors Intelligence on Wednesday.

Investors often see bullishness as a contrarian indicator, meaning that when bullishness is running high, the market may be due for a pullback. Investors Intelligence said a reading of 55 can often signal a market top.

Earlier in the session, Nasdaq canceled some trades in shares of Kraft Foods Group that had pushed the stock up about 29 percent in just one minute, the latest in a string of trading glitches that have rattled market confidence. Kraft shares ended down 1.2 percent at $44.87.

Shares of Family Dollar Stores rose 3.9 percent to $68.56 after the discount chain posted a higher quarterly profit.

Not all was rosy, though, on the earnings front. Monsanto shares fell 2.2 percent to $88.59 after the agribusiness group posted a fourth-quarter loss during a seasonally sluggish sales period.

About 6.2 billion shares changed hands on the New York Stock Exchange, Amex and Nasdaq, compared with the average daily volume of 6.38 billion.

Decliners slightly outran advancers on the NYSE, with 1,499 issues falling and 1,474 names rising. On the Nasdaq, about 13 stocks fell for every 11 that rose.

(Editing by Jan Paschal)

Source: http://news.yahoo.com/stock-index-futures-trade-slightly-lower-081723741--finance.html

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FREE Palm Reading Workshop - Live On-Air.... 10/03 by NuLife ...

The Down & Dirty welcomes Mike Richards, host of the latest version of The Pyramid, a classic game show dating back to the '70s, and now appearing on the Game Show Network. Mike has worked with Dick Clark, and has also produced programs such as The Price is Right and The Weakest Link.

Joining The Callywood Nation is Darcy Donavan with over 300 credits in film, television, print, and music, as well as over a million internet hits weekly. Celebrity Darcy Donavan is a force to be reckoned with.

Alveda is the niece of Dr. Martin Luther King, Jr. She?ll be sharing her experiences in the Civil Rights Movement, marching by her Uncle's side at age 16. She will also share her story of being arrested at the time for marching for what she believed in.

Travel Brigade cruises out of Southern California. We'll talk about pre and post-cruise activities in the port cities of Los Angeles, San Diego and Long Beach. We'll also talk with Disney Cruise Lines about their new Pixar-inspired California Coastal Cruises.

The Chefs welcome Mike Yorkey, author of 75 books including Linsanity and the Playing With Purpose series, to discuss his new book with Eric LeGrand entitled Believe: My Faith and the Tackle That Changed My Life. Yorkey also was a 2010 Christie Award Nominee.

Laura Theodore, the Jazzy Vegetarian welcomes Dr. Pam Popper to talk about the effect of carcinogens on cancer.

Lenore Luca welcomes Adam Irigoyen to Teen Groove On The Move. Adam is stopping by to talk about his role of Deuce Martinez on Disney's Shake It Up. He currently recording an independent album as well and will tell us about his upcoming single, La Colegiala!

The Halli Casser-Jayne Show covers the topic of Burlesque, an art form on the comeback trail with neo-burlesque performer Angie Pontani, 86 year-old Queen of Burlesque Dixie Evans, Sam Goldwyn's granddaughter, Liz Goldwyn, author of Pretty Things and so much more.

Host Marie Stroughter interviews the man behind the hit movie, Obama's America: 2016, Dinesh D'Souza; then fresh from her visit to The View, guest Ann Coulter discusses her new book, Mugged.

America's Most Haunted Radio welcomes Aaron Sagers, author, journalist, raconteur, hat-wearer, NYU professor, proprietor of ParanormalPopCulture.com, and most recently host and co-exec producer of Paranormal Paparazzi on Travel Channel.

The Lane twins showed great courage coming out as gay to their strict Southern Baptist mom in ultra conservative North Carolina, followed their dreams to New York, then to Hollwood, won Fear Factor & WipeOut and now have a new documentary, Hollywood to Dollywood!

VividLife Radio's Ed and Deb Shapiro welcome Congressman Tim Ryan author of Mindful Nation to discuss How a Simple Practice Can Help Us Reduce Stress, Improve Performance, and Recapture the American Spirit.

Emmy Award winning actor Eric Braeden, best known for his role as Victor Newman on the CBS Daytime soap The Young and the Restless, joins World Footprints to share his travel experiences, early childhood memories and his adventures after immigrating to the US.

Source: http://www.blogtalkradio.com/nuliferadio/2012/10/03/wednesday

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If elected, Capriles vows Venezuela will help with Colombia peace talks

Venezuelan opposition candidate, Henrique Capriles, who is running against President Hugo Chavez, pledged his commitment to assisting the Colombian government in their negotiations with the FARC guerrillas.

By Andrew Cawthorne,?Reuters / October 1, 2012

Venezuela's opposition presidential candidate Henrique Capriles smiles during a news conference in Caracas October 1.

Carlos Garcia Rawlins/Reuters

Enlarge

Venezuelan opposition leader?Henrique Capriles?pledged to help Colombia in its peace talks with rebels and distance himself from Iran should he defeat President?Hugo Chavez?in an increasingly tight race ahead of Sunday's election.

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The government of neighboring?Colombia?is due to start talks with Marxist FARC guerrillas this month in?Oslo?to try to end five decades of conflict.?Chavez's government, accused by?Bogota?of backing the rebels in the past, supports the talks.

That has led to speculation that an opposition victory in?Venezuela?on Oct. 7 could damage prospects for peace in?Colombia. But Capriles denied that was the case.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/RzgO7BFKp8Y/If-elected-Capriles-vows-Venezuela-will-help-with-Colombia-peace-talks

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Heidi Range attends Breast Cancer Campaign&#39;s Action Month ...

HEIDI Range must have worked up a sweat in her latest party frock.

The Sugababe donned a stifling leather dress but she kept any discomfort well hidden as she smiled for snappers on the red carpet.

The Liverpool lass managed to pull off the rocking gown, teaming it with an extravagant necklace and simple black suede heels.

She complemented her get-up with a pretty hairdo and a decent display of leg at the Breast Cancer Campaign's Action Month launch in London last night.

Heidi has been heavily involved in the initiative, recently posing as a sexy racer girl in a 1950s-style shoot to raise awareness of the disease.

To mark the start of the campaign?s Action Month, several London landmarks including Buckingham Palace and Nelson's Column were illuminated in pink.

Range of poses ... Heidi strikes look for the camera

DAVE BENNET

Source: http://www.thesun.co.uk/sol/homepage/showbiz/4568090/heidi-range-breast-cancer-campaign-launch-london.html

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Medicare to fine hospitals for some readmitted patients ? Health ...

WASHINGTON ? If you or an elderly relative have been hospitalized recently and noticed extra attention when the time came to be discharged, there?s more to it than good customer service.

As of Monday, Medicare will start fining hospitals that have too many patients readmitted within 30 days of discharge due to complications. The penalties are part of a broader push under President Barack Obama?s health care law to improve quality while also trying to save taxpayers money.

About two-thirds of the hospitals serving Medicare patients, or some 2,200 facilities, will be hit with penalties averaging around $125,000 per facility this coming year, according to government estimates.

Data to assess the penalties have been collected and crunched, and Medicare has shared the results with individual hospitals. Medicare plans to post details online later in October, and people can look up how their community hospitals performed by using the agency?s ?Hospital Compare? website.

It adds up to a new way of doing business for hospitals, and they have scrambled to prepare for well over a year. They are working on ways to improve communication with rehabilitation centers and doctors who follow patients after they?re released, as well as connecting individually with patients.

?There is a lot of activity at the hospital level to straighten out our internal processes,? said Nancy Foster, vice president for quality and safety at the American Hospital Association. ?We are also spreading our wings a little and reaching outside the hospital, to the extent that we can, to make sure patients are getting the ongoing treatment they need.?

Still, industry officials say they have misgivings about being held liable for circumstances beyond their control. They also complain that facilities serving low-income people, including many major teaching hospitals, are much more likely to be fined, raising questions of fairness.

?Readmissions are partially within the control of the hospital and partially within the control of others,? Foster said.

Consumer advocates say Medicare?s nudge to hospitals is long overdue and not nearly stiff enough.

?It?s modest, but it?s a start,? said Dr. John Santa, director of the Consumer Reports Health Ratings Center. ?Should we be surprised that industry is objecting? You would expect them to object to anything that changes the status quo.?

For the first year, the penalty is capped at 1 percent of a hospital?s Medicare payments. The overwhelming majority of penalized facilities will pay less. Also, for now, hospitals are only being measured on three medical conditions: heart attacks, heart failure and pneumonia.

Under the health care law, the penalties gradually will rise until 3 percent of Medicare payments to hospitals are at risk. Medicare is considering holding hospitals accountable on four more measures: joint replacements, stenting, heart bypass and treatment of stroke.

If General Motors and Toyota issue warranties for their vehicles, hospitals should have some similar obligation when a patient gets a new knee or a stent to relieve a blocked artery, Santa contends. ?People go to the hospital to get their problem solved, not to have to come back,? he said.

Excessive rates of readmission are only part of the problem of high costs and uneven quality in the U.S. health care system. While some estimates put readmission rates as high as 20 percent, a congressional agency says the level of preventable readmissions is much lower. About 12 percent of Medicare beneficiaries who are hospitalized are later readmitted for a potentially preventable problem, said the Medicare Payment Advisory Commission, known as MedPAC.

Foster, the hospital association official, said medication mix-ups account for a big share of problems. Many Medicare beneficiaries are coping with multiple chronic conditions, and it?s not unusual for their medication lists to be changed in the hospital. But their doctors outside sometimes don?t get the word; other times, the patients themselves don?t understand there?s been a change.

Another issue is making sure patients go to their required follow-up appointments.

Medicare deputy administrator Jonathan Blum said he thinks hospitals have gotten the message.

?Clearly it?s captured their attention,? said Blum. ?It?s galvanized the hospital industry on ways to reduce unnecessary readmissions. It?s forced more parts of the health care system to work together to ensure that patients have much smoother transitions.?

MedPAC, the congressional advisory group, has produced research findings that back up the industry?s assertion that hospitals serving the poor, including major teaching facilities, are more likely to face penalties. But for now, Blum said Medicare is not inclined to grade on the curve.

?We have really tried to address and study this issue,? said Blum. ?If you look at the data, there are hospitals that serve a low-income patient mix and do very well on these measures. It seems to us that hospitals that serve low-income people can control readmissions very well.?

Under Obama?s health care overhaul, Medicare is pursuing efforts to try to improve quality and lower costs. They include rewarding hospitals for quality results, and encouraging hospitals, nursing homes and medical practice groups to join in ?accountable care organizations.? Dozens of pilot programs are under way. The jury is still out on the results.

?

Source: http://bangordailynews.com/2012/09/30/health/medicare-to-fine-hospitals-for-some-readmitted-patients/

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Sinopec shuts Guangzhou CDU for 20 days for environmental checks

BEIJING (Reuters) - China's Sinopec Corp started shutting down a 104,000-barrel-per-day (bpd) crude processing unit at a subsidiary refinery in Guangzhou on Saturday, two industry officials said, in preparation for safety and environmental checks after state media reported on environmental problems.

The crude unit will be down for at least 20 days and the plant, Sinopec Guangzhou Petrochemical, has to divert at least one imported crude cargo into storage, one official with direct knowledge of the plant's operations told Reuters.

The official said Sinopec has yet to decide whether to shut down the whole Guangzhou plant after China's National Day holiday week that ends on Oct 7.

The plant, in capital city of southern Guangdong province, has a total crude processing capacity of 270,000 bpd.

(Reporting by Chen Aizhu; Editing by Ken Wills)

Source: http://news.yahoo.com/sinopec-shuts-guangzhou-cdu-20-days-environmental-checks-033433753--finance.html

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The latest fitness craze? ?Gangnam Style! - Omona They Didn&#39;t ...

Looks like South Korean pop sensation PSY is angling to give Richard Simmons a run for his money. After all, why sweat to the oldies when you can do it ?Gangnam Style??

The incredibly catchy??Gangnam Style? has been viewed more than 274 million times on YouTube. It has been flash mobbed, mashed up?and analyzed, but it?s the dance performed by PSY in his video for the viral hit that has piqued the interest of the nation?s enterprising fitness instructors. In the video, Psy rides an invisible horse across the trendy Gangnam neighborhood in the South Korean capital of Seoul. While most of us watch the video and think, ?That looks fun!,? personal trainers see a great aerobic workout with terrific leg toning potential.

Sure enough, the internet is already full of fitness enthusiasts getting their ?Gangnam Style? dance on in their own homes or in gyms. Instructors are cashing in on the craze by offering cardio dance and Zumba classes featuring the dance. According to Gothamist, the trend has spread not just around the Internet but to gyms across the country (or at least in Canada), which have begun offering classes in invisible horse-riding, with ?some instructors are already offering full-fledged Gangnam Style Cardio Dance? classes.

Richard Simmons, time to saddle up your invisible horse.

Feel free to make this a fitness post!!

Source: http://omonatheydidnt.livejournal.com/9923014.html

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