Winds and Fears Buffet East Coast

The East Coast was buffeted by a number of winds and economic fears on Friday,leaving a lot to be forgotten about for a relaxing weekend to take shape.Gusts of near 70 miles an hour-hurricane force-tore siding off a home,knocked billboards over and power lines down,and delayed flights as high wind warnings were issued and a low pressure system moved up the coastline.It's unsettled spring conditions right before the start of meteorological spring on March 1,Tuesday.
The convulsing Middle East sent a dark cloud over fretting markets on Wall Street as oil prices reached more than 98.00 a barrel in after hours trading.Friday trading was light as institutions trimmed their purchases,anxious about any weekend developments overseas while the markets are closed.Consumers are feeling the oil surge at the gas pump and struggling at the supermarket check-out as well,with commodities soaring generally.
For the week,the Dow lost 2.1%;the S&P 1.72;and the NASDAQ 1.9%.It was the S&P's biggest weekly drop since mid-November of last year.The CBOE Volatility Index,the fear index,was up 17% on the week.
Next week will see the Institute for Supply Management issue its key reports on manufacturing and service sector activity for February,as well as earnings from H.J. Heinz and the February employment report on Friday.
The S&P futures were down 1.90 on Friday evening,but the NASDAQ futures went the other direction,rising 2.25,reflecting Friday's strength in the tech sector.
German Martin Kaymer was the sole number one seed to reach the quarterfinals of the World Golf Championships Accenture Match Play Championship at the Ritz-Carlton Golf Club at Dove Mountain in Marana,Arizona,where frost can still delay play at this time of year on the oasis course.Spaniard Miguel Angel Jimenez and American Ryan Moore were also still alive in the jagged desert scenery.
H.J. Heinz(HNZ)
Update:Martin Kaymer will play England's Luke Donald in the finals of the Accenture Match Play Championship on Sunday.Americans Matt Kuchar and Bubba Watson will play in the consolation match.Kaymer,26,became the world number one when he defeated Watson in Saturday's semifinal.