Young and Educated in France Find Employment Elusive


Colin Delfosse for The New York Times


Justine Forriez, 23, holds a master’s degree in health administration. But after an apprenticeship, she is living on state aid and working at off-the-books jobs.







LILLE, France — Justine Forriez wakes up early to go onto the computer to look for a job. She calls university friends and contacts; she goes to the unemployment office every week, though mostly for the companionship, and has taken a course in job hunting. She has met with 10 different recruiters since May and sent out 200 résumés.




Ms. Forriez is not poor or disadvantaged, and she holds a master’s degree in health administration. But after a two-year apprenticeship, she is living on state aid and working at off-the-books jobs like baby-sitting and tending bar. She cares for a dog for $6.50 a day. She paints watercolors in her spare time to keep herself from going crazy.


“I don’t feel at ease when I’m home,” she said. “You find yourself with no work, no project.” With the extra $45 for dog sitting, she said, “I can go to the grocery store.”


Ms. Forriez, 23, is part of a growing problem in France and other low-growth countries of Europe — the young and educated unemployed, who go from one internship to another, one short-term contract to another, but who cannot find a permanent job that gets them on the path to the taxpaying, property-owning French ideal that seemed the norm for decades.


This is a “floating generation,” made worse by the euro crisis, and its plight is widely seen as a failure of the system: an elitist educational tradition that does not integrate graduates into the work force, a rigid labor market that is hard to enter, and a tax system that makes it expensive for companies to hire full-time employees and both difficult and expensive to lay them off.


The result, analysts and officials agree, is a new and growing sector of educated unemployed, whose lives are delayed and whose inability to find good jobs damages tax receipts, pension programs and the property market. There are no separate figures kept for them, but when added to the large number of unemployed young people who have little education or training, there is a growing sense that France and other countries in Western Europe risk losing a generation, further damaging prospects for sustainable economic growth.


Louise Charlet, 25, has a master’s degree in management. She worked as an apprentice at the Kiabi clothing company for more than two years, but was not given a permanent job; she’s also worked for three months at a hotel here. She prowls the Internet for job offers, goes to the unemployment office and lives with her unemployed boyfriend in a neat, tiny apartment. “You see,” she said, pointing to the computer, “there’s only one job offer today, and it’s a temporary contract.”


The crisis makes companies doubly reluctant to hire, she said. “In our parents’ generation, you had a job for life; now we constantly have to change jobs, change companies, change regions.”


Yasmine Askri, 26, majored in human resources, and after a year of unemployment, she got a business school degree. She was promised a fixed contract after an internship, but it never came. She left the Lille area for Paris to find a job, and spent another year on unemployment, finally finding an interim job for 18 months at GDF Suez. But that contract ended in June. Again unemployed, she has sent out nearly 400 résumés, she said, but has had only three interviews.


“It’s a disaster for everyone,” said Jean Pisani-Ferry, who runs the economic research center Bruegel in Brussels. “They can’t get credit, and they’re treated awfully by employers. And then there are all those young people in jobs that don’t match their skills.” The labor market, he said, is “deeply dysfunctional.”


Throughout the European Union, unemployment among those aged 15 to 24 is soaring — 22 percent in France, 51 percent in Spain, 36 percent in Italy. But those are only percentages among those looking for work. There is another category: those who are “not in employment, education or training,” or NEETs, as the Organization for Economic Cooperation and Development calls them. And according to a study by the European Union’s research agency, Eurofound, there are as many as 14 million out-of-work and disengaged young Europeans, costing member states an estimated 153 billion euros, or about $200 billion, a year in welfare benefits and lost production — 1.2 percent of the bloc’s gross domestic product.


Maïa de la Baume and Stefania Rousselle contributed reporting from Paris and Lille.



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U.S. election, iPhone 5, Kardashian top Yahoo! 2012 searches












LOS ANGELES (Reuters) – The U.S. presidential election became the most-searched item and Kim Kardashian was the most-searched person on Yahoo! in a year when online searches were dominated by big news stories and pop culture obsessions, the search engine company said on Monday.


The search term “election” topped the list of searches, led not only by extensive media coverage but also widening conversation on online social media platforms.












The term “political polls” was No. 8 of the top 10 Yahoo! searches of the year.


“The 2012 elections dominated the online searches, which is amazing because if something is in the news, it’s already accessible … people were really saturated by it, but even so, that was a key word that people typed throughout the year,” Vera Chan, Yahoo!’s web trend analyst, said in a conference call.


Chan said only two other news stories have topped the list in the past decade, those being the death of Michael Jackson in 2009 and the BP oil spill in 2010.


“iPhone 5″ came in at No. 2, which Chan said was interesting “in a post-Steve Jobs era” because while Apple Inc’s iPhone has featured regularly in the top searches since the first generation emerged in 2007, this was the first time a specific model had appeared high on the list.


Reality star Kim Kardashian was the most-searched person on the website, coming in at No. 3 and leading six famous women in the top 10.


Chan said Kardashian’s “notoriety has kept her at the top,” citing her ongoing divorce saga with ex-husband Kris Humphries, her high-profile relationship with rapper Kanye West and her E! channel reality shows.


Sports Illustrated cover model Kate Upton, British royal Kate Middleton, late singer Whitney Houston, troubled former child star Lindsay Lohan and pop star and former “American Idol” judge Jennifer Lopez all featured in the top 10 after being in the news prominently throughout the year.


Middleton, who was followed eagerly by fans and critics in her first year as a royal married to Britain’s Prince William and being a staple at the London Olympics and the Queen’s Diamond Jubilee, also garnered the most-searched scandal of the year when a French magazine published photos of her topless.


“olympics” came in at No. 7 on the list, as many turned to online media to watch and keep tabs on the global sporting event held in London during the summer.


On Yahoo!’s separate list of top-searched obsessions, pop culture dominated this year, with “The Hunger Games,” reality star Honey Boo Boo, erotic novel “Fifty Shades of Grey,” British boy band One Direction, Carly Rae Jepsen’s hit song “Call Me Maybe” and Korean rapper Psy’s “Gangnam Style” featuring in the top 10.


Yahoo! Inc compiles its annual search lists based on aggregated visitor activity on the network and billions of consumer searches.


(Editing by Eric Walsh)


Internet News Headlines – Yahoo! News


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Kellan Lutz, Hugh Jackman Take Bites and Swipes & More Casting News















12/02/2012 at 07:00 PM EST







Kellan Lutz (left) and Hugh Jackman


Christopher Polk/Getty, Han Myung-Gu/WireImage


It's comeback time. Whether seeking revenge or reprising beloved roles, a fresh crop of movies shows that the best characters always come back for more.

Twilight's Kellan Lutz feasts on others as a vampire, but this time, he's utilizing his own body for powers, Zimbio reports.

The actor will star in Tatua as a tattooed assassin whose weapons are extracted from the ink on his body. The process is a strain on the hit man, but he must put that aside when his son is kidnapped by a dangerous foe.

Hugh Jackman is set to reprise his role as Wolverine in
X-Men: Days of Future Past, the Hollywood Reporter. Ian McKellen (Magneto) and Patrick Stewart (Professor Xavier), will also be joining Jennifer Lawrence, James McAvoy, Michael Fassbender and Nicholas Hoult.

Charlize Theron will star in an adaptation of the final installment of a South Korean revenge trilogy, the Hollywood Reporter also says. The original movie revolves around a woman wrongfully imprisoned for 13 years who then sets out to seek her long-awaited revenge. Writer William Monahan says the English-language remake will be "very American – and very unexpected."

The made-for-TV Disney channel movie Life-Size is getting a sequel, Variety reports. Tyra Banks will reprise her role as Eve, the doll who comes to life, and also executive produce the movie. No word yet on whether Lindsay Lohan, who played Eve's owner, will be making a return.

Also coming soon:

Beyoncé won't be slowing down after her Super Bowl performance in February. Just a couple weeks later, she'll introduce her still untitled, feature-length documentary on HBO, Deadline reports. The documentary airs Feb. 16.

Bridesmaids' Rose Byrne will be going through the motions as a newlywed in I Give it a Year, Zimbio reports. As if being newly married wasn't tough enough, the "too perfect" ex Anna Faris will be shaking up an already teetering balance.

Cate Blanchett will be stirring up her wicked ways as the evil stepmother in a live-action adaptation of Disney's Cinderella, also according to Zimbio.

And George Clooney is sticking to his winning formula by joining forces with his Argo team to produce an untitled crime drama, Variety reports.

Read More..

Asperger's dropped from revised diagnosis manual

CHICAGO (AP) — The now familiar term "Asperger's disorder" is being dropped. And abnormally bad and frequent temper tantrums will be given a scientific-sounding diagnosis called DMDD. But "dyslexia" and other learning disorders remain.

The revisions come in the first major rewrite in nearly 20 years of the diagnostic guide used by the nation's psychiatrists. Changes were approved Saturday.

Full details of all the revisions will come next May when the American Psychiatric Association's new diagnostic manual is published, but the impact will be huge, affecting millions of children and adults worldwide. The manual also is important for the insurance industry in deciding what treatment to pay for, and it helps schools decide how to allot special education.

This diagnostic guide "defines what constellations of symptoms" doctors recognize as mental disorders, said Dr. Mark Olfson, a Columbia University psychiatry professor. More important, he said, it "shapes who will receive what treatment. Even seemingly subtle changes to the criteria can have substantial effects on patterns of care."

Olfson was not involved in the revision process. The changes were approved Saturday in suburban Washington, D.C., by the psychiatric association's board of trustees.

The aim is not to expand the number of people diagnosed with mental illness, but to ensure that affected children and adults are more accurately diagnosed so they can get the most appropriate treatment, said Dr. David Kupfer. He chaired the task force in charge of revising the manual and is a psychiatry professor at the University of Pittsburgh.

One of the most hotly argued changes was how to define the various ranges of autism. Some advocates opposed the idea of dropping the specific diagnosis for Asperger's disorder. People with that disorder often have high intelligence and vast knowledge on narrow subjects but lack social skills. Some who have the condition embrace their quirkiness and vow to continue to use the label.

And some Asperger's families opposed any change, fearing their kids would lose a diagnosis and no longer be eligible for special services.

But the revision will not affect their education services, experts say.

The new manual adds the term "autism spectrum disorder," which already is used by many experts in the field. Asperger's disorder will be dropped and incorporated under that umbrella diagnosis. The new category will include kids with severe autism, who often don't talk or interact, as well as those with milder forms.

Kelli Gibson of Battle Creek, Mich., who has four sons with various forms of autism, said Saturday she welcomes the change. Her boys all had different labels in the old diagnostic manual, including a 14-year-old with Asperger's.

"To give it separate names never made sense to me," Gibson said. "To me, my children all had autism."

Three of her boys receive special education services in public school; the fourth is enrolled in a school for disabled children. The new autism diagnosis won't affect those services, Gibson said. She also has a 3-year-old daughter without autism.

People with dyslexia also were closely watching for the new updated doctors' guide. Many with the reading disorder did not want their diagnosis to be dropped. And it won't be. Instead, the new manual will have a broader learning disorder category to cover several conditions including dyslexia, which causes difficulty understanding letters and recognizing written words.

The trustees on Saturday made the final decision on what proposals made the cut; recommendations came from experts in several work groups assigned to evaluate different mental illnesses.

The revised guidebook "represents a significant step forward for the field. It will improve our ability to accurately diagnose psychiatric disorders," Dr. David Fassler, the group's treasurer and a University of Vermont psychiatry professor, said after the vote.

The shorthand name for the new edition, the organization's fifth revision of the Diagnostic and Statistical Manual, is DSM-5. Group leaders said specifics won't be disclosed until the manual is published but they confirmed some changes. A 2000 edition of the manual made minor changes but the last major edition was published in 1994.

Olfson said the manual "seeks to capture the current state of knowledge of psychiatric disorders. Since 2000 ... there have been important advances in our understanding of the nature of psychiatric disorders."

Catherine Lord, an autism expert at Weill Cornell Medical College in New York who was on the psychiatric group's autism task force, said anyone who met criteria for Asperger's in the old manual would be included in the new diagnosis.

One reason for the change is that some states and school systems don't provide services for children and adults with Asperger's, or provide fewer services than those given an autism diagnosis, she said.

Autism researcher Geraldine Dawson, chief science officer for the advocacy group Autism Speaks, said small studies have suggested the new criteria will be effective. But she said it will be crucial to monitor so that children don't lose services.

Other changes include:

—A new diagnosis for severe recurrent temper tantrums — disruptive mood dysregulation disorder. Critics say it will medicalize kids' who have normal tantrums. Supporters say it will address concerns about too many kids being misdiagnosed with bipolar disorder and treated with powerful psychiatric drugs. Bipolar disorder involves sharp mood swings and affected children are sometimes very irritable or have explosive tantrums.

—Eliminating the term "gender identity disorder." It has been used for children or adults who strongly believe that they were born the wrong gender. But many activists believe the condition isn't a disorder and say calling it one is stigmatizing. The term would be replaced with "gender dysphoria," which means emotional distress over one's gender. Supporters equated the change with removing homosexuality as a mental illness in the diagnostic manual, which happened decades ago.

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner .

Read More..

Stock futures signal early gains

PARIS (Reuters) - Stock futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 0.12 percent, Dow Jones futures up 0.15 percent and Nasdaq 100 futures up 0.4 percent at 3.43 a.m. EST.


European stocks rose in morning trade, with resource-related shares buoyed by improving manufacturing data from China. <.eu/>


The final reading of HSBC's China manufacturing Purchasing Managers' Survey (PMI) rose to 50.5 in November from 49.5 in the previous month, the first time since October 2011 that it has topped the 50-point mark that separates growth from contraction.


HSBC's data followed a similar survey from the National Bureau of Statistics released on Saturday that showed the pace of growth in the manufacturing sector quickening. The official PMI rose to a seven-month high of 50.6 for November from 50.2 in October.


With barely a month left before they reach the "fiscal cliff" Republicans and Democrats remained far apart on Friday in talks to avoid the across-the-board tax hikes and spending cuts that threaten to throw the country back into recession.


U.S. Treasury Secretary Timothy Geithner pushed Republicans on Sunday to offer specific ideas to cut the deficit, and predicted that they would agree to raise tax rates on the rich to obtain a year-end deal and avoid possible economic doom.


Three top Federal Reserve officials offered sharply different takes on Saturday on the U.S. central bank's unprecedented efforts to push down long-term borrowing costs, highlighting what may be some key themes at the Fed's upcoming policy-setting meeting.


Singapore Airlines said on Monday it was in talks with interested parties to sell its 49 percent stake in British carrier Virgin Atlantic, with sources revealing that Delta Air Lines Inc was among potential suitors.


Boeing Co and the union that represents its 23,000 engineers tentatively agreed to resume labor talks on Tuesday, after their negotiations on a new contract ended abruptly on Thursday.


News Corp is expected to name Robert Thomson, a close confidant of Chairman and CEO Rupert Murdoch, to lead its new publishing company by the end of next week, according to sources familiar with News Corp's plans.


Bank of America Corp , the second largest U.S. bank, is holding off on plans for new checking-account fees that could have affected some 10 million customers by year's end, avoiding a possible repeat of last year's protests over consumer banking fees, the Wall Street Journal reported on Saturday.


U.S. gravel producer Martin Marietta Materials Inc will look to make a friendly offer to buy rival Vulcan Materials Co , rather than attempt another hostile takeover, the Wall Street Journal reported, citing people close to the decision.


The S&P 500 wrapped up its fifth positive month in the last six on Friday, although it ended the day flat as politicians remain at odds about how to avoid the cliff.


The Dow Jones industrial average <.dji> rose 3.76 points, or 0.03 percent, to 13,025.58 at the close. The S&P 500 <.spx> gained a mere 0.23 of a point, or 0.02 percent, to finish at 1,416.18. But the Nasdaq Composite Index <.ixic> dipped 1.79 points, or 0.06 percent, to end at 3,010.24.


(Reporting by Blaise Robinson; Editing by John Stonestreet)


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Tunnel Collapse Outside Tokyo Traps Motorists





TOKYO — At least seven people were feared dead after part of a highway tunnel collapsed Sunday in eastern Japan, trapping them in their vehicles and starting a fire that filled the tunnel with thick, black smoke. Government officials said fear of an additional collapse had prevented rescuers from reaching the two trapped vehicles.




The vehicles were crushed under concrete that fell from the ceiling of the three-mile Sasago Tunnel near the city of Otsuki in Yamanashi Prefecture, about 50 miles west of Tokyo, the national government’s disaster management agency said. The agency said it remained unclear why the 150-200-foot section of 8-inch-thick concrete suddenly fell.


A burning vehicle emitted heavy smoke that initially prevented firefighters from entering the tunnel. But even after putting out the blaze, rescuers suspended efforts to reach the trapped vehicles because of the danger of further collapse, the agency said.


The agency said a woman in her 20s managed to flee one of the crushed vehicles. She told firefighters that six other people remained trapped in her vehicle. It was unknown how many people were in the other vehicle besides the driver, who was apparently also still trapped inside.


The accident closed a section of the Chuo Expressway, a vital transportation artery connecting Tokyo to western Japan. Such long tunnels — usually lined with smooth, white concrete — are a common sight on highways in this mountainous island nation.


Read More..

6 Futuristic Fireplaces to Keep You Warm This Winter












Who would have guessed — the futuristic-looking luxury fireplace industry is booming. Surprisingly, if you can dream it, it can be built. But, most of the time, it’ll cost you.


It seems we’re no longer just content to view the crackling Yule Log on our TVs. These fireplaces even move past the traditional stone and brick models commonly seen today. They run on gas and have controllers to turn them on or off. Some can even be operated from smartphone apps.












[More from Mashable: For Sale: Space Shuttle Xing Sign]


Check out the gallery and tell us which one is most appealing to you.


Uni Flame


The Uni Flame indoor or outdoor fireplace comes from modern home goods company Radius.


[More from Mashable: Portland Toymakers Create Ten-Legged Bamboo Companion [VIDEO]]


Click here to view this gallery.


Photo courtesy of iStockphoto, dszc


This story originally published on Mashable here.


Tech News Headlines – Yahoo! News


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Ashley Hebert and J.P. Rosenbaum Are Married






People Exclusive








12/01/2012 at 06:15 PM EST







J.P. Rosenbaum and Ashley Hebert


Victor Chavez/Getty


It’s official: Bachelorette star Ashley Hebert and her fiancé J.P. Rosenbaum tied the knot Saturday afternoon in Pasadena, Calif.

Surrounded by family, friends and fellow Bachelor and Bachelorette alumni like Ali Fedotowsky, Emily Maynard, and Jason and Molly Mesnick, the couple said "I do" in an outdoor ceremony officiated by franchise host Chris Harrison.

"Today is all about our friends and family," Hebert, whose nuptials will air Dec. 16 on a two-hour special on ABC, tells PEOPLE. "It's about standing with J.P., looking around at all the people we love in the same room there to celebrate our love."

The 28-year-old dentist from Madawaska, Maine, met New York construction manager Rosenbaum, 35, on season 7 of The Bachelorette. The couple became engaged on the season finale.

Hebert and Rosenbaum are the second couple in the franchise's 24 seasons to make it from their show finale to the altar, following in the footsteps of Bachelorette Trista Rehn, who married Vail, Colo., firefighter Ryan Sutter in 2003.

Read More..

Asperger's dropped from revised diagnosis manual

CHICAGO (AP) — The now familiar term "Asperger's disorder" is being dropped. And abnormally bad and frequent temper tantrums will be given a scientific-sounding diagnosis called DMDD. But "dyslexia" and other learning disorders remain.

The revisions come in the first major rewrite in nearly 20 years of the diagnostic guide used by the nation's psychiatrists. Changes were approved Saturday.

Full details of all the revisions will come next May when the American Psychiatric Association's new diagnostic manual is published, but the impact will be huge, affecting millions of children and adults worldwide. The manual also is important for the insurance industry in deciding what treatment to pay for, and it helps schools decide how to allot special education.

This diagnostic guide "defines what constellations of symptoms" doctors recognize as mental disorders, said Dr. Mark Olfson, a Columbia University psychiatry professor. More important, he said, it "shapes who will receive what treatment. Even seemingly subtle changes to the criteria can have substantial effects on patterns of care."

Olfson was not involved in the revision process. The changes were approved Saturday in suburban Washington, D.C., by the psychiatric association's board of trustees.

The aim is not to expand the number of people diagnosed with mental illness, but to ensure that affected children and adults are more accurately diagnosed so they can get the most appropriate treatment, said Dr. David Kupfer. He chaired the task force in charge of revising the manual and is a psychiatry professor at the University of Pittsburgh.

One of the most hotly argued changes was how to define the various ranges of autism. Some advocates opposed the idea of dropping the specific diagnosis for Asperger's disorder. People with that disorder often have high intelligence and vast knowledge on narrow subjects but lack social skills. Some who have the condition embrace their quirkiness and vow to continue to use the label.

And some Asperger's families opposed any change, fearing their kids would lose a diagnosis and no longer be eligible for special services.

But the revision will not affect their education services, experts say.

The new manual adds the term "autism spectrum disorder," which already is used by many experts in the field. Asperger's disorder will be dropped and incorporated under that umbrella diagnosis. The new category will include kids with severe autism, who often don't talk or interact, as well as those with milder forms.

Kelli Gibson of Battle Creek, Mich., who has four sons with various forms of autism, said Saturday she welcomes the change. Her boys all had different labels in the old diagnostic manual, including a 14-year-old with Asperger's.

"To give it separate names never made sense to me," Gibson said. "To me, my children all had autism."

Three of her boys receive special education services in public school; the fourth is enrolled in a school for disabled children. The new autism diagnosis won't affect those services, Gibson said. She also has a 3-year-old daughter without autism.

People with dyslexia also were closely watching for the new updated doctors' guide. Many with the reading disorder did not want their diagnosis to be dropped. And it won't be. Instead, the new manual will have a broader learning disorder category to cover several conditions including dyslexia, which causes difficulty understanding letters and recognizing written words.

The trustees on Saturday made the final decision on what proposals made the cut; recommendations came from experts in several work groups assigned to evaluate different mental illnesses.

The revised guidebook "represents a significant step forward for the field. It will improve our ability to accurately diagnose psychiatric disorders," Dr. David Fassler, the group's treasurer and a University of Vermont psychiatry professor, said after the vote.

The shorthand name for the new edition, the organization's fifth revision of the Diagnostic and Statistical Manual, is DSM-5. Group leaders said specifics won't be disclosed until the manual is published but they confirmed some changes. A 2000 edition of the manual made minor changes but the last major edition was published in 1994.

Olfson said the manual "seeks to capture the current state of knowledge of psychiatric disorders. Since 2000 ... there have been important advances in our understanding of the nature of psychiatric disorders."

Catherine Lord, an autism expert at Weill Cornell Medical College in New York who was on the psychiatric group's autism task force, said anyone who met criteria for Asperger's in the old manual would be included in the new diagnosis.

One reason for the change is that some states and school systems don't provide services for children and adults with Asperger's, or provide fewer services than those given an autism diagnosis, she said.

Autism researcher Geraldine Dawson, chief science officer for the advocacy group Autism Speaks, said small studies have suggested the new criteria will be effective. But she said it will be crucial to monitor so that children don't lose services.

Other changes include:

—A new diagnosis for severe recurrent temper tantrums — disruptive mood dysregulation disorder. Critics say it will medicalize kids' who have normal tantrums. Supporters say it will address concerns about too many kids being misdiagnosed with bipolar disorder and treated with powerful psychiatric drugs. Bipolar disorder involves sharp mood swings and affected children are sometimes very irritable or have explosive tantrums.

—Eliminating the term "gender identity disorder." It has been used for children or adults who strongly believe that they were born the wrong gender. But many activists believe the condition isn't a disorder and say calling it one is stigmatizing. The term would be replaced with "gender dysphoria," which means emotional distress over one's gender. Supporters equated the change with removing homosexuality as a mental illness in the diagnostic manual, which happened decades ago.

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner .

Read More..

Cliff fight may knock out December rally

NEW YORK (Reuters) - In normal times, next week's slew of U.S. economic data could be a springboard for a December rally in the stock market.


December is historically a strong month for markets. The S&P 500 has risen 16 times in the past 20 years during the month.


But the market hasn't been operating under normal circumstances since November 7 when a day after the U.S. election, investors' focus shifted squarely to the looming "fiscal cliff."


Investors are increasingly nervous about the ability of lawmakers to undo the $600 billion in tax increases and spending cuts that are set to begin in January; those changes, if they go into effect, could send the U.S. economy into a recession.


A string of economic indicators next week, which includes a key reading of the manufacturing sector on Monday, culminates with the November jobs report on Friday.


But the impact of those economic reports could be muted. Distortions in the data caused by Superstorm Sandy are discounted.


The spotlight will be more firmly on signs from Washington that politicians can settle their differences on how to avoid the fiscal cliff.


"We have a week with a lot of economic data, and obviously most of the economic data is going to reflect the effects of Sandy, and that might be a little bit negative for the market next week, but most of that is already expected - the main focus remains the fiscal cliff," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.


Concerns about the cliff sent the S&P 500 <.spx> into a two-week decline after the elections, dropping as much as 5.3 percent, only to rally back nearly 4 percent as the initial tone of talks offered hope that a compromise could be reached and investors snapped up stocks that were viewed as undervalued.


On Wednesday, the S&P 500 gained more than 20 points from its intraday low after House Speaker John Boehner said he was optimistic that a budget deal to avoid big spending cuts and tax hikes could be worked out. The next day, more pessimistic comments from Boehner, an Ohio Republican, briefly wiped out the day's gains in stocks.


On Friday, the sharp divide between the Democrats and the Republicans on taxes and spending was evident in comments from President Barack Obama, who favors raising taxes on the wealthy, and Boehner, the top Republican in Congress, who said Obama's plan was the wrong approach and declared that the talks had reached a stalemate.


"It's unusual to end up with one variable in this industry, it's unusual to have a single bullet that is the causal factor effect, and you are sitting here for the next maybe two weeks or more, on that kind of condition," said Sandy Lincoln, chief market strategist at BMO Asset Management U.S. in Chicago.


"And that is what is grabbing the markets."


BE CONTRARY AND MAKE MERRY


But investor attitudes and seasonality could also help spur a rally for the final month of the year.


The most recent survey by the American Association of Individual Investors reflected investor caution about the cliff. Although bullish sentiment rose above 40 percent for the first time since August 23, bearish sentiment remained above its historical average of 30.5 percent for the 14th straight week.


December is a critical month for retailers such as Target Corp and Macy's Inc . They saw monthly retail sales results dented by Sandy, although the start of the holiday shopping season fared better.


With consumer spending making up roughly 70 percent of the U.S. economy, a solid showing for retailers during the holiday season could help fuel any gains.


Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati, believes the recent drop after the election could be a market bottom, with sentiment leaving stocks poised for a December rally.


"The concerns on the fiscal cliff - as valid as they might be - could be overblown. When you look at a lot of the overriding sentiment, that has gotten extremely negative," said Detrick.


"From that contrarian point of view with the historically bullish time frame of December, we once again could be setting ourselves up for a pretty nice end-of-year rally, based on lowered expectations."


SOME FEEL THE BIG CHILL


Others view the fiscal cliff as such an unusual event that any historical comparisons should be thrown out the window, with a rally unlikely because of a lack of confidence in Washington to reach an agreement and the economic hit caused by Sandy.


"History doesn't matter. You're dealing with an extraordinary set of circumstances that could very well end up in the U.S. economy going into a recession," said Phil Orlando, chief equity market strategist at Federated Investors in New York.


"And the likelihood of that is exclusively in the hands of our elected officials in Washington. They could absolutely drag us into a completely voluntary recession."


(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: charles.mikolajczak(at)thomsonreuters.com )


(Reporting by Chuck Mikolajczak; Editing by Jan Paschal)


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