IHT Rendezvous: Can Armstrong be Redeemed? How About Galliano?

LONDON — While Lance Armstrong was (not quite) baring his soul to Oprah this week, a very different celebrity, the disgraced London fashion designer John Galliano, was taking a small step on the path to redemption.

Two years after he was ousted from Dior in the wake of his arrest for a drunken, anti-Semitic rant in a Paris bar, Mr. Galliano is to make a modest comeback at the New York design studio of Oscar de La Renta.

As Eric Wilson writes over at On the Runway, many had speculated that the man described as “the prince of romantic glamor” would never work in the fashion industry again after his downfall in 2011.

However, with the support of fashion luminaries such as Anna Wintour and Grace Coddington of Vogue, he appears set for rehabilitation.

“As far as a comeback strategy, working for Mr. de la Renta in a casual capacity, practically an intern, is, in effect, a way of testing the waters,” Eric writes.

The downfall of the Gibraltar-born, London-raised designer came after two patrons of a bar in the Marais district of Paris accused him of making an anti-Semitic slur.

An online video later surfaced that showed a previous incident in which a bleary Mr. Galliano told fellow customers in the same bar, “I love Hitler” and “people like you would be dead” and “your mothers, your forefathers” would all be “gassed.”

All the more surprising, then, that among those who welcomed the 52-year-old designer’s return was Abraham H. Foxman of the Anti-Defamation league.

The head of the American anti-Semitism watchdog group said on Friday, “Mr. Galliano has worked arduously in changing his worldview and dedicated a significant amount of time to researching, reading, and learning about the evils of anti-Semitism and bigotry.”

The A.D.L. had met the designer on numerous occasions and hoped to work with him in the future as a spokesman against bigotry.

A Paris court fined Mr. Galliano €6,000, or $8,000, for racial insults after he offered his apologies, and last year President François Hollande stripped him of the Légion d’Honneur that he was awarded in 2009.

The designer’s behavior was widely blamed on drug and alcohol addiction, which he’s sought treatment for over the last two years.

“Under intense pressure to produce at least eight full collections a year, Galliano — like so many other artists — reached for sustenance and oblivion,” Suzy Menkes, the IHT’s fashion editor, wrote in November.

Another celebrity who has admitted to turning to drugs, but for very different reasons, is Lance Armstrong, the disgraced American cycling superstar who came clean to Oprah Winfrey this week.

Summing up the response among cycling and anti-doping officials, my colleague Ian Austen wrote: “Many characterized Armstrong’s interview with Oprah Winfrey as being more self-serving than revelatory.”

Has Mr. Armstrong done enough to pave the way for an eventual comeback or were his television appearances indeed self-serving? And what about Mr. Galliano? Should his repentance for his unpardonable remarks lead to a second chance at success? Does either celebrity — or both — deserve redemption? Tell us what you think.

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Thank You to the OpenStack Members Who Voted in the Individual Director Election






HP Cloud Services would like to thank all of the OpenStack® Foundation member/electors who participated in the recent Individual Director election.


The OpenStack Foundation regularly conducts elections for Individual Directors of the Foundation’s Board.  This process is very important for the legitimacy of the Foundation and for the health of the project. These directors represent the voices and interests of the developers and contributors to the OpenStack project as a whole, and of the operators of OpenStack-based clouds. Read more about Thank You to the OpenStack Members Who Voted in the Individual Director Election »






Linux/Open Source News Headlines – Yahoo! News




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Manti Te'o Speaks: 'I Wasn't Faking It'















01/19/2013 at 08:45 AM EST



Notre Dame linebacker Manti Te'o has broken his silence on the topic of the his "dead" girlfriend, telling ESPN Friday night that he played no part in the bizarre hoax.

"I wasn't faking it," the star athlete, 21, told the sports cable network's Jeremy Schapp during the 2½-hour, off-camera interview. (Te'o's comments, which were all in front of his lawyer, were later released by ESPN.) "I wasn't part of this."

Te'o did admit, however, that he "tailored" his tales so that others would assume he had "met her before she passed away."

He also said one of three people who perpetrated the prank – Te'o identified him as Ronaiah Tuiasosopo, a 22-year-old acquaintance from California, along with one other man and a woman – contacted him two days ago and apologized.

"When [people] hear the facts, they'll know," Te'o said. "They'll know that there is no way that I could be part of this."

Te'o told Schapp that he and Kekua never met face-to-face, and whenever he attempted to contact her via Skype and videophone calls, the picture was blocked. Planned meetings in Los Angeles and Hawaii always fell apart because she would cancel at the last minute or else send others in her place.

"My relationship with Lennay wasn't a four-year relationship," Te'o said. "There were blocks and times and periods in which we would talk and then it would end."

At another point, he said, "She told me her dad passed away, and I was there. I was that shoulder to cry on. And I kind of just naturally cared for the person. And so our relationship kind of took another level. But not the kind of exclusive level yet."

He further said that he lied to his own father about having met her, and from there the story snowballed, as Te'o apparently told others the same story.

After being informed in early September that Kekua had died of leukemia, Te'o said he continued to keep up the story about her publicly because he was uncomfortable admitting the two had never met in person.

"That goes back to what I did with my dad. I knew that. I even knew that it was crazy that I was with somebody that I didn't meet," he said. "So I kind of tailored my stories to have people think that, yeah, he met her before she passed away."

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Lilly drug chosen for Alzheimer's prevention study


Researchers have chosen an experimental drug by Eli Lilly & Co. for a large federally funded study testing whether it's possible to prevent Alzheimer's disease in older people at high risk of developing it.


The drug, called solanezumab (sol-ah-NAYZ-uh-mab), is designed to bind to and help clear the sticky deposits that clog patients' brains.


Earlier studies found it did not help people with moderate to severe Alzheimer's but it showed some promise against milder disease. Researchers think it might work better if given before symptoms start.


"The hope is we can catch people before they decline," which can come 10 years or more after plaques first show up in the brain, said Dr. Reisa Sperling, director of the Alzheimer's center at Brigham and Women's Hospital in Boston.


She will help lead the new study, which will involve 1,000 people ages 70 to 85 whose brain scans show plaque buildup but who do not yet have any symptoms of dementia. They will get monthly infusions of solanezumab or a dummy drug for three years. The main goal will be slowing the rate of cognitive decline. The study will be done at 50 sites in the U.S. and possibly more in Canada, Australia and Europe, Sperling said.


In October, researchers said combined results from two studies of solanezumab suggested it might modestly slow mental decline, especially in patients with mild disease. Taken separately, the studies missed their main goals of significantly slowing the mind-robbing disease or improving activities of daily living.


Those results were not considered good enough to win the drug approval. So in December, Lilly said it would start another large study of it this year to try to confirm the hopeful results seen patients with mild disease. That is separate from the federal study Sperling will head.


About 35 million people worldwide have dementia, and Alzheimer's is the most common type. In the U.S., about 5 million have Alzheimer's. Current medicines such as Aricept and Namenda just temporarily ease symptoms. There is no known cure.


___


Online:


Alzheimer's info: http://www.alzheimers.gov


Alzheimer's Association: http://www.alz.org


___


Follow Marilynn Marchione's coverage at http://twitter.com/MMarchioneAP


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Wall Street Week Ahead: Earnings, money flows to push stocks higher

NEW YORK (Reuters) - With earnings momentum on the rise, the S&P 500 seems to have few hurdles ahead as it continues to power higher, its all-time high a not-so-distant goal.


The U.S. equity benchmark closed the week at a fresh five-year high on strong housing and labor market data and a string of earnings that beat lowered expectations.


Sector indexes in transportation <.djt>, banks <.bkx> and housing <.hgx> this week hit historic or multiyear highs as well.


Michael Yoshikami, chief executive at Destination Wealth Management in Walnut Creek, California, said the key earnings to watch for next week will come from cyclical companies. United Technologies reports on Wednesday while Honeywell is due to report Friday.


"Those kind of numbers will tell you the trajectory the economy is taking," Yoshikami said.


Major technology companies also report next week, but the bar for the sector has been lowered even further.


Chipmakers like Advanced Micro Devices , which is due Tuesday, are expected to underperform as PC sales shrink. AMD shares fell more than 10 percent Friday after disappointing results from its larger competitor, Intel . Still, a chipmaker sector index <.sox> posted its highest weekly close since last April.


Following a recent underperformance, an upside surprise from Apple on Wednesday could trigger a return to the stock from many investors who had abandoned ship.


Other major companies reporting next week include Google , IBM , Johnson & Johnson and DuPont on Tuesday, Microsoft and 3M on Thursday and Procter & Gamble on Friday.


CASH POURING IN, HOUSING DATA COULD HELP


Perhaps the strongest support for equities will come from the flow of cash from fixed income funds to stocks.


The recent piling into stock funds -- $11.3 billion in the past two weeks, the most since 2000 -- indicates a riskier approach to investing from retail investors looking for yield.


"From a yield perspective, a lot of stocks still yield a great deal of money and so it is very easy to see why money is pouring into the stock market," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.


"You are just not going to see people put a lot of money to work in a 10-year Treasury that yields 1.8 percent."


Housing stocks <.hgx>, already at a 5-1/2 year high, could get a further bump next week as investors eye data expected to support the market's perception that housing is the sluggish U.S. economy's bright spot.


Home resales are expected to have risen 0.6 percent in December, data is expected to show on Tuesday. Pending home sales contracts, which lead actual sales by a month or two, hit a 2-1/2 year high in November.


The new home sales report on Friday is expected to show a 2.1 percent increase.


The federal debt ceiling negotiations, a nagging worry for investors, seemed to be stuck on the back burner after House Republicans signaled they might support a short-term extension.


Equity markets, which tumbled in 2011 after the last round of talks pushed the United States close to a default, seem not to care much this time around.


The CBOE volatility index <.vix>, a gauge of market anxiety, closed Friday at its lowest since April 2007.


"I think the market is getting somewhat desensitized from political drama given, this seems to be happening over and over," said Destination Wealth Management's Yoshikami.


"It's something to keep in mind, but I don't think it's what you want to base your investing decisions on."


(Reporting by Rodrigo Campos, additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Kenneth Barry)



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Tell-All on the Internet Fells Chinese Official





BEIJING — Viewed through the lens of the Marxist tenets he so arduously promoted, Yi Junqing’s transactional relationship with an ambitious female researcher would have probably fallen into the category of exploitive.




Mr. Yi, 54, an impish scholar who is China’s top guardian of Communist literature, is said to have provided the woman with a fellowship at his research institute in exchange for $1,600. The sex and jewelry came later.


The allegations came to light last month after the woman, Chang Yan, 34, posted online a self-indulgent and occasionally scintillating diary that recounted a yearlong affair between the two married scholars. A few days later, Ms. Chang tried to retract her sprawling tell-all but the damage was done.


On Thursday Mr. Yi, director of the Central Compilation and Translation Bureau, was dismissed from his job. Xinhua, the state news agency, kept its dispatch brief and clean: Mr. Yi, it said, was let go over “lifestyle issues.”


In a season when dozens of ethically challenged Chinese officials have been felled by their lust for women, money and luxury timepieces, the downfall of Mr. Yi prompted a hearty round of snickering and schadenfreude, and not only because his vice minister rank made him one of the more senior party members to lose his job over official malfeasance.


“People have come to treat such news as entertainment, but that’s only because we feel so helpless,” said Zhu Ruifeng, a muckraking journalist who specializes in the misdeeds of Chinese officials.


Mr. Yi’s main job, after all, was to propagate the leftist and often puritanical teachings of Mao Zedong and other Communist luminaries at a time when many Chinese have grown disenchanted by the seeming lack of rectitude among their leaders. The headline in the Qianjiang Evening News of Hangzhou seemed to sum up the public’s disgust: “Mouthful of Marxism-Leninism, Mind Full of Filth and Vice.” The commentary went on to lambast Mr. Yi for selling positions at his institute, which has a staff of nearly 300 and is charged with translating Marxist tracts into Chinese and Chinese government documents into a number of foreign languages.


Even if party leaders ultimately tossed Mr. Yi overboard, it was the Internet that sealed his fate. Over the past two months, a parade of corrupt officials have been exposed by enterprising journalists, anonymous tipsters — or in Mr. Yi’s case, jilted lovers.


Recent cases include the relatives of a housing official in Henan Province who had collected 31 properties and a deputy mayor in Guangdong Province who was fired and placed under investigation after his cozy ties to a local drug gang were publicly revealed by a disgruntled underling.


Given China’s normally tight censorship restrictions, some analysts have suggested that the spate of scandals appearing online are a sign the new leadership is committed to fighting corruption in the party. During his inaugural address in November, Xi Jinping, the new Communist Party chief and incoming president, warned that unchecked graft threatened to destroy the party.


Indeed, Xinhua, on its microblog account, tried to put a positive spin on the latest scandal, saying “The resolute management of problematic officials shows the determination of the party’s fight against corruption.”


Judging from the deluge of biting commentary on Sina Weibo, the Chinese equivalent of Twitter, not many people were convinced. “The shameful step-down of this minister-level official once again proves the Internet wisdom: rumors are but prophesies,” Xue Manzi, a well-followed businessman, wrote on his microblog.


When it comes to Chinese-style scandal, Mr. Yi’s transgressions — at least those alleged by his former lover — are not particularly spectacular. He seems to have had a fondness for sushi and sake, and for lunchtime tête-à-têtes at a Beijing hotel with Ms. Chang — 17 of them, by her count.


She described a man who enjoyed talking politics, but also about his own achievements. “I am quite talented after all,” he supposedly said after recounting the favorable impression he made on Mr. Xi, the party chief. Ms. Chang does not exactly come off as a naïf. After bribing him with Swarovski baubles, a bottle of Boss cologne and an additional $8,000, she said she grew angry when Mr. Yi failed to secure her a permanent position at his institute. She was also not pleased to learn he had other lovers. In the end, she admits she tried to blackmail him, demanding nearly $50,000 to leave him alone.


After the diary’s release, Ms. Chang tried to backpedal, saying she was depressed and nearly delusional from working too much when she wrote its 100,000 characters. “In my spare time I put together a work of fiction,” she said.


Patrick Zuo contributed research.



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Mo. lawmaker wants tax on violent video games






JEFFERSON CITY, Mo. (AP) — A Republican lawmaker from rural Missouri bucked her party’s anti-tax bent on Tuesday and called for a sales tax on violent video games in response to a deadly Connecticut school shooting.


Rep. Diane Franklin, of Camdenton, said the proposed 1 percent sales tax would help pay for mental health programs and law enforcement measures aimed at preventing mass shootings. The tax would be levied on video games rated “teen,” ”mature” and “adult-only” by the Entertainment Software Rating Board, the organization in charge of rating video games.






The rating board classifies games as “teen” if they contain violence, suggestive themes and crude humor. The popular music game “Guitar Hero” has a teen rating and would be taxed under Franklin’s plan. Another popular title, “Call of Duty,” has a mature rating and also would be subject to the sales tax. “Mature” games are deemed suitable for people 17 and older and may contain intense violence and gore.


“History shows there is a mental health component to these shootings,” Franklin said, referring to the Sandy Hook Elementary School shooting that killed 20 students and six adults in Newtown, Conn., and the Aurora, Colo., movie theater shooting that left 14 dead.


Franklin’s plan is the latest in a string of measures proposed in response to recent mass shootings. Another Missouri Republican has filed a measure that would allow teachers to carry guns in the classroom. On the national level, Vice President Joe Biden is leading an effort to reduce gun violence and is expected to reveal recommendations Wednesday that include steps to improve school safety and mental health care, as well as address violence in entertainment and video games.


Franklin’s proposal already faces opposition from the Entertainment Software Association, which represents companies that publish computer and video games.


“Taxing First Amendment protected speech based on its content is not only wrong, but will end up costing Missouri taxpayers,” the association said in a written statement.


Tax increases typically are a hard sell in Missouri. This past November, voters rejected a proposed tobacco tax increase for the third time in a decade, choosing instead to leave the state’s cigarette tax at the lowest level in the nation. Republican legislative leaders and Democratic Gov. Jay Nixon both have taken stands against tax increases.


Other proposals to tax violent video games failed in Oklahoma in 2012 and New Mexico in 2008. In Oklahoma, Republican state Rep. William Fourkiller had proposed a violent video games tax to combat childhood obesity and school bullying, but his plan failed to make it out of a committee.


Other non-tax efforts to curb the effect of violent video games also have fallen short. U.S. Sen. Jay Rockefeller, D-W. Va., put forward a measure last year for the study of the impact of violent video games on children, but it failed. A California law banning the sale of violent games to minors was struck down by the U.S. Supreme Court in 2011.


The Entertainment Merchant’s Association sent a letter to Biden last week urging him to look elsewhere when it comes to his plans on gun violence.


“Make no mistake: blaming movies and video games is an attempt to distract the attention of the public and the media from meaningful action that will keep our children safer,” wrote the merchant’s association, a lobbying group for the home entertainment industry.


Others, however, have criticized the video game industry and its role in mass shootings.


“There exists in this country a callous, corrupt and corrupting shadow industry that sells, and sows, violence against its own people,” National Rifle Association Executive Vice President Wayne LaPierre said at a December news conference.


Franklin said she hopes her bill will “start a discussion” on the relationship between violent games and mental illness. Franklin, who has a granddaughter in kindergarten, added she is concerned about the safety of schools and universities in the state.


In 2008, there were 298 million video games sold in the U.S., generating $ 11.7 billion in revenue. Six of the 10 best-selling games included violence, and four carried a “mature” rating.


Franklin’s bill was formally introduced Monday and must be referred and approved by a committee before being considered on the House floor.


Gaming News Headlines – Yahoo! News





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William &#38; Kate and Harry's Gift List Reveals Riches from Their Travels









01/18/2013 at 08:20 AM EST



What's on the gift list when party-lover Prince Harry comes to visit you? Reach for the rum.

For the Duke and Duchess of Cambridge? How about matching bathrobes from a fabled hotel.

These are just some of the gifts received last year by the Princes and Kate during their travels on behalf of Queen Elizabeth. (For the full list, click here.)

While William, 30, was given a prized dagger by the King of Malaysia, he and Kate were handed robes by the historic Raffles Hotel in Singapore.

William & Kate and Harry's Gift List Reveals Riches from Their Travels| The British Royals, Kate Middleton, Prince Harry, Prince William

Prince Harry, with a kangaroo he was given by Australian athletes, with the Duchess of Cambridge

Landov

Gifts for Kate, 31, tended to be fashion choices, including eight handbags or clutch bags that came during the couple's tour of southeast Asia,. She was also presented with sarongs in the Solomon Islands, and a sari in Malaysia.

During his March visit to Brazil and the Caribbean, Harry, 28, was given Brazilian soccer shirts, local liquor and, in the Bahamas, a magnifying glass. The Governor of Rio handed him a Beatles CD and a book.

And, should he want to pimp up his ride back home, he can always display the personalized license plate saying "HARRY" that he received while he toured Brazil. You go, Harry.

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Food servers more vulnerable to legal threats


WASHINGTON (AP) — People with severe food allergies have a new tool in their attempt to find menus that fit their diet: federal disabilities law. And that could leave schools, restaurants and anyplace else that serves food more vulnerable to legal challenges over food sensitivities.


A settlement stemming from a lack of gluten-free foods available to students at a Massachusetts university could serve as a precedent for people with other allergies or conditions, including peanut sensitivities or diabetes. Institutions and businesses subject to the Americans With Disabilities Act could be open to lawsuits if they fail to honor requests for accommodations by people with food allergies.


Colleges and universities are especially vulnerable because they know their students and often require them to eat on campus, Eve Hill of the Justice Department's civil rights division says. But a restaurant also could be liable if it blatantly ignored a customer's request for certain foods and caused that person to become ill, though that case might be harder to argue if the customer had just walked in off the street, Hill said.


The settlement with Lesley University, reached last month but drawing little attention, will require the Cambridge, Mass., institution to serve gluten-free foods and make other accommodations for students who have celiac disease. At least one student complained to the federal government after the school would not exempt the student from a meal plan even though the student couldn't eat the food.


"All colleges should heed this settlement and take steps to make accommodations," says Alice Bast, president and founder of the National Foundation for Celiac Awareness. "To our community this is definitely a precedent."


People who suffer from celiac disease don't absorb nutrients well and can get sick from the gluten found in wheat, rye and barley. The illness, which affects around 2 million Americans, causes abdominal pain, bloating and diarrhea, and people who have it can suffer weight loss, fatigue, rashes and other problems. Celiac is a diagnosed illness that is more severe than gluten sensitivity, which some people self-diagnose.


Ten years ago, most people had never heard of celiac disease. But awareness has exploded in recent years, for reasons that aren't entirely clear. Some researchers say it was under-diagnosed, others say it's because people eat more processed wheat products like pastas and baked goods than in past decades, and those items use types of wheat that have a higher gluten content.


Gluten-free diets have expanded beyond those with celiac disease. Millions of people are buying gluten-free foods because they say they make them feel better, even if they don't have a wheat allergy. Americans were expected to spend $7 billion on gluten-free foods last year.


With so many people suddenly concerned with gluten content, colleges and universities have had to make accommodations. Some will allow students to be exempted from meal plans, while others will work with students individually. They may need to do even more now as the federal government is watching.


"These kids don't want to be isolated," Bast says. "Part of the college experience is being social. If you can't even eat in the school cafeteria then you are missing out on a big part of college life."


Under the Justice Department agreement, Lesley University says it will not only provide gluten-free options in its dining hall but also allow students to pre-order, provide a dedicated space for storage and preparation to avoid cross-contamination, train staff about food allergies and pay a $50,000 cash settlement to the affected students.


"We are not saying what the general meal plan has to serve or not," Hill says. "We are saying that when a college has a mandatory meal plan they have to be prepared to make reasonable modifications to that meal plan to accommodate students with disabilities."


The agreement says that food allergies may constitute a disability under the Americans With Disabilities Act, if they are severe enough. The definition was made possible under 2009 amendments to the disability law that allowed for episodic impairments that substantially limit activity.


"By preventing people from eating, they are really preventing them from accessing their educational program," Hill said of the school and its students.


Mary Pat Lohse, the chief of staff and senior adviser to Lesley University's president, says the school has been working with the Justice Department for more than three years to address students' complaints. She says the school has already implemented most parts of the settlement and will continue to update policies to serve students who need gluten-free foods.


"The settlement agreement provides a positive road map for other colleges and universities to follow with regard to accommodating students with food allergies and modifying existing food service plans," Lohse said.


Some say the Justice Department decision goes too far. Hans von Spakovsky, a fellow at the conservative Heritage Foundation who worked in the civil rights division of the Justice Department under President George W. Bush, says food allergies shouldn't apply under the disability act. He adds that the costs could be substantial when schools are already battling backlash from high tuition costs.


"I certainly encourage colleges and universities to work with students on this issue, but the fact that this is a federal case and the Justice Department is going to be deciding what kind of meals could be served in a dining hall is just absurd," he said.


Whether the government is involved or not, schools and other food service establishments are likely to hear from those who want more gluten-free foods. Dhanu Thiyagarajan, a sophomore at the University of Pittsburgh, said she decided to speak up when she arrived at school and lost weight because there were too few gluten-free options in the cafeteria. Like Lesley University, the University of Pittsburgh requires that on-campus students participate in a meal plan.


Thiyagarajan eventually moved off campus so she could cook her own food, but not before starting an organization of students who suffer from wheat allergies like hers. She says she is now working with food service at the school and they have made a lot of progress, though not enough for her to move back on campus.


L. Scott Lissner, the disability coordinator at Ohio State University, says he has seen similar situations at his school, though people with food allergies have not traditionally thought of themselves as disabled. He says schools will eventually have to do more than just exempt students from a meal plan.


"This is an early decision on a growing wave of needs that universities are going to have to address," he said of the Lesley University agreement.


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Stock futures mixed as Intel offsets Morgan Stanley, China data


NEW YORK (Reuters) - Stock index futures were little changed on Friday, a day after the S&P 500 rose to its highest level in five years, as a weak outlook from Intel was weighed against encouraging data out of China and a fourth-quarter profit at Morgan Stanley .


Shares of Intel Corp slumped 5.4 percent to $21.44 in premarket trading after the tech company forecast quarterly revenue that was below analysts' estimates and hiked capital spending plans for the year.


Futures got a lift after Morgan Stanley reported a fourth-quarter profit after a year-earlier loss, helped by higher revenue at the bank's institutional securities business. Its stock was up 7.2 percent at $22.25 in premarket trading.


Economic data out of China provided some support to the market. The country's economy grew at a modestly faster-than-expected 7.9 percent in the fourth quarter, the latest sign the world's second-biggest economy was pulling out of a post-global financial crisis slowdown which saw it grow in 2012 at its weakest pace since 1999.


S&P 500 futures rose 0.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures slipped 3 points, and Nasdaq 100 futures lost 8 points.


Stronger-than-expected economic data boosted the S&P 500 on Thursday to its highest level in five years. The index is now just 5.6 percent from a record closing peak of 1,565.15.


It would be a normal reaction for investors to take a pause at this point, but any weakness in the market could be a buying opportunity, said Andre Bakhos, director of market analytics at Lek Securities in New York.


"It's the type of market where it's starting to gain momentum and if investors miss the run, they're going to be behind the eight ball early in the year," said Bakhos.


General Electric reported a rise in earnings on Friday, pushing its shares up 3.5 percent in premarket trading to $22.05.


Johnson Controls dropped 2.6 percent to $31.12 after its profit fell and the company forecast further declines.


Overall, S&P 500 company earnings are expected to have risen 2.3 percent in the fourth quarter, Thomson Reuters data showed. Expectations for the quarter have dropped considerably since October, when a 9.9 percent gain was estimated.


AT&T warned after Thursday's closing bell that it will take a fourth-quarter charge of about $10 billion due to bigger-than-expected pension obligations. Shares of the telephone company fell 1.4 percent to $32.74 in premarket trading Friday.


On the economic front, a report on consumer sentiment in early January will be released at 9:55 am ET (1455 GMT).


(Editing by Bernadette Baum)



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