Pebble Beach Golf;Knicks Win;Northeast Blizzard

At the AT and T Pebble Beach National Pro-Am,celebrities and PGA Tour members played rounds together Thursday and Friday.Notables ranging from Macy's CEO Terry Lundgren and comedian Bill Murray,to NFL star quarterback Aaron Rodgers and actor Josh Duhamel,navigated three different Monterey Peninsula golf courses on the edge of the Pacific Ocean.
Bill Murray joked with armed forces personnel attending the tournament.
At the end of the second round along the sweeping Pacific vistas,the leader board was as follows:
Ted Potter,Jr. USA -8
Brandt Snedeker USA -8
Patrick Reed USA -7
Frederick Jacobsen SWE -7
John Merrick USA -7
Hunter Mahan USA -7
Jason Day AUS -6
Patrick Cantlay AUS -6
Nick O'Hern AUS -6
James Hahn USA -6
In NBA action,the New York Knicks edged the Minnesota Timberwolves 100-94 at Target Center in Minneapolis.Carmelo Anthony led the Knicks with 36 points and 9 rebounds,while Ricky Rubio contributed 18 points and 2 rebounds to the Wolves' effort.The Knicks are now 32-16,in second place behind the Miami Heat in the Eastern Conference;the Wolves are well back in 12th place in the Western Conference at 18-29.
A major winter storm lashed the Northeast with snow and hurricane force winds Friday.Topping snow totals as of midnight were:
Mt.Sinai,NY 19.0 inches
Manchester,CT 18.5
Boston,MA 14.0
Blizzard warnings were posted from coastal Maine to New York City.
On the Maryland-Pennsylvania border,there were just a trace of snow,some light rain and blustery winds-the fringes of the storm.

Market Loses Ground;Swedish Golfer Gains Some

The market again struggled with Euro debt worries and an inadequate U.S. employment report,posting a decline on the week.The Dow lost 2.03,while the NASDAQ dropped 1.86 and the S&P fell 2.48.Next week should see more of the same with a light data calendar and few major earnings reports.Among those who will report earnings next week are consumer-oriented General Motors,Macy's and Disney.
The market will be open on Friday,Veterans Day,but banks and the post office will be closed.Consumer sentiment data will be released on Friday.
The S&P futures continued the decline Friday evening,being down another 4.60,while bond index futures rose.
At the World Golf Championship-HSBC Champions in Shanghai,the European Tour continued its Race to Dubai,where the Tour will conclude on December 9.Through the fifth hole of the third round on Saturday,with Asian birds singing distinctively back in the trees along the steamy course,Sweden's Fredrik Jacobson cooly held the lead at fourteen under par for the tournament.Australia's Adam Scott and South African Louis Oosthuizen-pronounced "West hayzen"-were tied for second at -11.Pro golf will only have a one month holiday,as the 2012 PGA Tour starts in Hawaii on January 6.
HSBC Holdings,PLC(HBC),General Motors(GM),Macy's(M),Disney(DIS)

Correction Ends On Optimism

A wave of optimism lifted the market out of correction territory this week,fueled by bullish reports from Australia and Canada,as well as progress reported by retailers JC Penney,Macy's and others.Employment surged in Australia and Canada,while hot weather in the U.S. sent people into shopping malls,where they couldn't resist the bargains.This created hope that earnings season,which begins next week with Alcoa's report,would show stronger growth than had been feared.For the week,the Dow was up 5.3%,while the NASDAQ gained 5% and the S&P logged a 5.4% increase.
Golf fans are looking ahead to the British Open at St.Andrews' Old Course in Scotland,which begins next week.It is the third of the year's four Majors.St.Andrews is considered the home of modern golf and is a great favorite with the players.In baseball,the young Stephen Strasburg was pitching masterfully for the Washington Nationals tonight as they dominated San Francisco 8-1.He is showing he is no flash in the pan,justifying the high level of fan interest being generated by his talent.There's a real presence about him.Miami Heat basketball fans held a pep rally for the newly signed LeBron James and friends,broadcast live on ESPN.
The S&P futures were ascending 5.50 this evening,and bond futures rose as well.
JC Penney(JCP),Macy's(M)