Mississippi declares emergency as storms in US South kill 11 on Christmas Eve

Southern US states began digging out on Thursday after severe storms killed at least 11 people, and Mississippi declared a state of emergency in areas pounded by tornadoes.

With about 100 million Americans expected to travel over the Christmas holiday, the National Weather Service forecast isolated severe thunderstorms from the mid-Atlantic region to the Gulf Coast and record warmth in New York.

The storm system packed high winds and triggered more than 20 tornadoes in Arkansas, Illinois, Indiana, Mississippi, Tennessee and Michigan on Wednesday, authorities said.

A large tornado tore a 100-mile (160-km) path through northern Mississippi, demolishing or heavily damaging more than 100 homes and other buildings before plowing into western Tennessee, authorities said.

Mississippi Governor Phil Bryant declared a state of emergency in areas affected by the storm, saying 14 tornadoes had touched down in the state. Bryant said seven people were killed and one person was missing.

"Everybody is pulling together here in Mississippi today to help respond to this disaster," Bryant said on CNN.

He said shelters had been set up and the full extent of the damage would not be known for several days. Mississippi authorities said some 40 people were injured and a 7-year-old boy was among those killed.

Three people died in Tennessee and an 18-year-old woman was killed in Arkansas when a tree crashed into her house, authorities said.

Thirteen counties in Tennessee suffered severe damage, with a post office destroyed and a state highway washed out.

Emergency crews in Mississippi, Alabama, and Tennessee were searching for several people reported missing. Scores were injured in the region.

A rare tornado touched down in Canton, Michigan, and about 15,000 homes in the state and neighboring Wisconsin were without electricity. The weather service issued a gale force wind warning for Lake Michigan, where waves could reach 15 feet.

About 500 flights were delayed or canceled at Atlanta's Hartsfield-Jackson airport as the area was hit by a thunderstorm.

Meanwhile, much of the northeast enjoyed balmy weather on Thursday, including New York, which surpassed its record for the warmest Christmas Eve reaching 71 degrees Fahrenheit (22 C).

Cold and snow were forecast on Christmas Day for the US Northwest, including temperatures in the teens in Montana and snow likely in Washington, Oregon, northern California, and Nevada.

Of the 100 million Americans traveling over the holiday, 91 million will use cars, according to the American Automobile Association.

source: interaksyon.com

Wall Street ends at record in second straight weekly gain

NEW YORK - U.S. stocks ended higher on Friday, with both the Dow and S&P 500 closing at records in a broad rally, though trading was light with many market participants still out for the Christmas holiday.

Major indexes closed out their second straight weekly gain, continuing an advance that has lifted the S&P 5.9 percent in seven sessions. The benchmark index hit its 52nd record close of the year on Friday, the most since 1995 and the fourth-best annual record ever, while the Dow rose for a seventh straight day, its longest streak since March 2013.

"The overall trend remains higher, but we're reaching a point where we're overbought. Six percent since last Tuesday is such a strong move in such a short period of time, even if bulls have the upper hand in the longer term," said Adam Sarhan, chief executive of Sarhan Capital in New York.

Recent gains have come on strong economic data, including a bullish read on economic growth earlier this week, as well as accommodative measures from central banks.

The day's gains were broad, with eight of the S&P 500's 10 primary sectors ending up on the day and no sector ending more than 0.1 percent lower. The utility sector was the day's strongest, up 1.2 percent, while healthcare rose 0.8 percent.

Healthcare stocks were boosted by biotechs, which jumped 2.3 percent. While the Nasdaq biotech index was one of the day's strongest sectors, it fell 3.2 percent in a week marked by heavy volatility. Celgene Corp rose 3.4 percent to $113.35 as the S&P 500's biggest percentage gainer, followed by Regeneron Pharmaceuticals, up 3.3 percent to $413.48.

The Dow Jones industrial average rose 23.5 points, or 0.13 percent, to 18,053.71, the S&P 500 gained 6.89 points, or 0.33 percent, to 2,088.77 and the Nasdaq Composite added 33.39 points, or 0.7 percent, to 4,806.86.

For the week, the Dow rose 1.4 percent, the S&P rose 0.9 percent and the Nasdaq rose 0.9 percent. It was the ninth positive week in the past ten for the Dow and S&P.

The S&P Retail index rose 0.5 percent in the first trading session after Christmas. Among notable names, Best Buy Co rose 0.6 percent to $39.14 while Macy's Inc dipped 0.3 percent to $64.05. Amazon.com Inc rose 2 percent to $309.18.

"Things are looking positive since the shopping season coincided with a big drop in crude oil, which means lower gas prices," Sarhan said. "That translates to more disposable income, which could mean stronger retail sales."

Advancing issues outnumbered declining ones on the NYSE by 2,032 to 1,011, for a 2.01-to-1 ratio on the upside; on the Nasdaq, 1,792 issues rose and 934 fell for a 1.92-to-1 ratio favoring advancers.

The benchmark S&P 500 index was posting 70 new 52-week highs and 5 new lows; the Nasdaq Composite was recording 133 new highs and 28 new lows.

About 3.06 billion shares traded on all U.S. platforms, according to BATS exchange data, compared with the month-to-date average of 7.39 billion.

source: interaksyon.com