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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Ex-Ravens WR Evans still feels part of team

FOXBOROUGH, Mass. (AP) — While Lee Evans awaits another chance in the NFL, he'll be rooting for the Baltimore Ravens in Sunday's AFC championship rematch with New England.

The wide receiver who couldn't hold onto a pass in the end zone a year ago — which likely would have sent the Ravens into the Super Bowl — has no regrets. Except, maybe, that he's not part of the Ravens this time around.

Evans says in an email that he "wishes he made the touchdown catch, but is thankful for the overall journey. You play the game to win and celebrate the joy with your teammates."

With 27 seconds to go, Joe Flacco connected with Evans in the deep right corner of the end zone, but defensive back Sterling Moore knocked the ball to the ground.

Soon after, Billy Cundiff missed a 32-yard field goal that would have forced overtime.

Evans says he has not gotten depressed over the play — Moore did make a strong strip after Evans got two hands on the ball.

"Give him credit for the play he made," Evans said.

Unfortunately for Evans, he's remembered as much for that incompletion as he is for two 1,000-yard receiving seasons in seven years with the Bills, and 43 touchdown catches.

"My goal is to play in the NFL again," said Evans, who was cut in the preseason last summer by Jacksonville, a team not exactly overloaded with receivers. "And if I am afforded that opportunity, I will be fully prepared and absolutely capable of competing at the highest level."

Cundiff hooked up with Washington and then San Francisco this season, but was cut by the 49ers on Friday without kicking for them as they stuck with veteran David Akers, who had been struggling.

Evans said he will be in front of his TV on Sunday watching the title games. He likes what he's seen from Baltimore (12-6) and knows the Ravens' recent postseason history; they've won a playoff game in each of the last five seasons and will be in their third AFC championship match in those five years.

But he also knows how tough the Patriots (13-4) are at home, particularly in January.

"It is a chess match between a defense that goes hard after the quarterback and gets after you on every play," Evans said, "and an offense that seeks to exploit their match-ups while always trying to capitalize on a defense's mistakes."

Evans' only season with the Ravens was marred by injury and he made only four receptions. He did help mentor Torrey Smith, Baltimore's top draft pick in 2011 who came into the league with the same kind of speed and game-breaking ability that made Evans the 13th overall pick in the 2004 draft out of Wisconsin.

He's seen Smith develop into a dangerous weapon for Flacco, and veteran Anquan Boldin has been superb in the playoffs. Kick returner Jacoby Jones got free on the 70-yard TD pass in the final minute of regulation that tied Denver in last weekend's divisional-round win.

"I saw growth in him this year as both a man and a player," Evans said of Smith. "He is a great guy who gets the most out of his abilities. His play really highlighted the improvements he made toward being a more fluid route runner and a sure-handed pass catcher."

Evans is particularly impressed by Flacco, the only quarterback to win a playoff game in his first five pro seasons.

"Joe's record speaks for itself," Evans said. "He does not get the credit he deserves for how important he is to making the Ravens' offense go."

A part of Evans will share in the Ravens' excitement if they win Sunday "after fully understanding what it feels like to be on the losing side."

"Life brings you highs and lows," he said, "and you have to keep that in perspective."

___

Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL

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The 10 Weirdest Inaugurations in US History

President Barack Obama will put his hand on a Bible for the 57th inauguration ceremony Monday (Jan. 21) and kick off his next four years in office. And while everything may come off without a hitch, inaugurations haven’t always gone smoothly. From Richard Nixon‘s parade of dead birds to Calvin Coolidge‘s impromptu inauguration, here are some of the most bizarre swearing-in days in U.S. history.

Drunken oratory

In 1865, Andrew Johnson gave a train-wreck of a speech on the big day. The vice president usually gives a short and smooth speech prior to the president’s address. But the 16th vice president, who later became the 17th president after Abraham Lincoln was assassinated that year, was ill with typhoid fever and took the medicine of the day, whiskey, the night before. The hangover must have gone to his head: During the speech, he bragged about his humble origins and his triumph over Confederate rebels. Lincoln reportedly looked on in horror, while the former vice president Hannibal Hamlin tugged at his coattails in a failed bid to get him to stop.

Dead birds

Ulysses S. Grant thought that canaries would add a festive touch to his inaugural ball in 1873, the beginning of his second term. Unfortunately, the 18th president failed to anticipate the cold temperatures — the morning low was 4 degrees Fahrenheit (about 15 degrees Celsius), the coldest March day on record. With wind chill, the day felt like a blustery minus 15 F to minus 30 F (minus 26 C to minus 34 C). All told, about 100 birds froze to death during Grant’s inauguration. [The World's Weirdest Weather]

More dead birds

Birds don’t seem to do well on Inauguration Day. During Richard Nixon‘s Inauguration Day parade in 1973, he wanted to make sure pigeons didn’t ruin his big day. The 37th president had a chemical bird repellant sprayed all along the inaugural parade route. The streets were strewn with dozens of dead pigeons.

Coat-check blunders

Grant’s inaugurations suffered from several blunders. Not only did he inadvertently lead to mass bird death at the second inauguration, his first inauguration in 1869 saw outright brawls. The people staffing the coat-check area couldn’t read the claim tickets, so as people waited ever longer to pick up their outerwear, fights broke out and some guests abandoned their jackets and hats. “Illiterate workers mixed up everyone’s coat claims, leading to fights among the men and tears among the women,” writes Jim Bendat in “Democracy’s Big Day: The Inauguration of our President 1789-2009″ (iUniverse Star, 2008).

Quiet ceremony

Calvin Coolidge, known as “Silent Cal,” was notorious for talking little and doing things with no fanfare. That includes the start of his presidency. He was staying with his father in rural Vermont when news came that President Warren G. Harding had died. Because the 30th president’s father happened to be a justice of the peace, his father performed the swearing in right there, without an audience.

Killer speech

William Henry Harrison’s inauguration speech was deadly dull. The ninth president of the United States stood so long in the cold, rainy weather to give his inauguration speech that he caught a chill, got pneumonia and died just a month later. But not everyone thinks the speech killed him; he may have gotten his cold three weeks later, meaning his rainy day performance wasn’t to blame for his demise. [The Strangest Elections in US History]

House party from hell

After Andrew Jackson’s inauguration in 1829, the seventh president threw an epic party at the White House straight out of an ’80s movie. Jackson was notorious for his frontier-style, “man of the people” mystique and he attracted a similarly rough crowd. The louts crashed the party, sloshed through the house in muddy shoes, broke china and ripped the curtains down. To get them to leave, the staff used a time-tested trick: Leaving a tub of whiskey on the front lawn.

Debating a little girl

In 1929, when President Herbert Hoover was sworn in, the chief justice who administered the oath, William Howard Taft, garbled it, substituting the word “maintain” for “protect.” An eighth-grade girl named Helen Terwilliger caught the flub, and sent Taft a note. Instead of admitting the error, Taft wrote a letter insisting he got the words right, and movie buffs eventually played their newsreels to determine who was right. The eighth-grader held the day and Taft eventually conceded he was wrong.

Running for office

President James Buchanan had an extreme case of diarrhea on his Inauguration Day in 1857. Prior to the inauguration, the 15th president of the United States had contracted a case of “National Hotel Disease,” by staying at a shady establishment. The stubborn case of dysentery lingered past his inauguration, and Buchanan needed a doctor nearby during the ceremony.

Some air, please

While partying has always been a major part of the inaugural tradition, guests were considerably rowdier in years past. During James Madison’s inaugural ball in 1809, the weather got so hot that patrons reportedly broke out the windows at Long’s Hotel so they could breathe. (Tickets for the ball apparently cost $ 4 each.)

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Why Africa backs French in Mali

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STORY HIGHLIGHTS

• French intervention in Mali could be turning point in relationship with Africa, writes Lansana Gberie


• France's meddling to bolster puppet regimes in the past has outraged Africans, he argues


• He says few in Africa would label the French action in Mali as 'neo-colonial mission creep'


• Lansana: 'Africa's weakness has been exposed by the might of a foreign power'

Editor's note: Dr. Lansana Gberie is a specialist on African peace and security issues. He is the author of "A Dirty War in West Africa: The RUF and the Destruction of Sierra Leone." He is from Sierra Leone and lives in New York.

(CNN) -- Operation Serval, France's swift military intervention to roll back advances made by Jihadist elements who had hijacked a separatist movement in northern Mali, could be a turning point in the ex-colonialist's relationship with Africa.

It is not, after all, every day that you hear a senior official of the African Union (AU) refer to a former European colonial power in Africa as "a brotherly nation," as Ambroise Niyonsaba, the African Union's special representative in Ivory Coast, described France on 14 January, while hailing the European nation's military strikes in Mali.

France's persistent meddling to bolster puppet regimes or unseat inconvenient ones was often the cause of much outrage among African leaders and intellectuals. But by robustly taking on the Islamist forces that for many months now have imposed a regime of terror in northern Mali, France is doing exactly what African governments would like to have done.

Lansana Gberie

This is because the Movement for Unity and Jihad in West Africa (MUJAO), Ansar Dine and al Qaeda in the Islamic Maghreb (AQIM) are a far greater threat to many African states than they ever would be to France or Europe.

See also: What's behind Mali instability?

Moreover, the main underlying issues that led to this situation -- the separatist rebellion by Mali's Tuareg, under the banner of the National Movement for the Liberation of Azawad (MNLA), who seized the northern half of the country and declared it independent of Mali shortly after a most ill-timed military coup on 22 March 2012 -- is anathema to the African Union and the Economic Community of West African States (ECOWAS).

Successful separatism by an ethnic minority, it is believed, would only encourage the emergence of more separatist movements in a continent where many of the countries were cobbled together from disparate groups by Europeans not so long ago.

But the foreign Islamists who had been allies to the Tuaregs at the start of their rebellion had effectively sidelined the MNLA by July last year, and have since been exercising tomcatting powers over the peasants in the area, to whom the puritanical brand of Islam being promoted by the Islamists is alien.

ECOWAS, which is dominated by Nigeria -- formerly France's chief hegemonic foe in West Africa -- in August last year submitted a note verbale with a "strategic concept" to the U.N. Security Council, detailing plans for an intervention force to defeat the Islamists in Mali and reunify the country.

ECOWAS wanted the U.N. to bankroll the operation, which would include the deployment a 3,245-strong force -- to which Nigeria (694), Togo (581), Niger (541) and Senegal (350) would be the biggest contributors -- at a cost of $410 million a year. The note stated that the objective of the Islamists in northern Mali was to "create a safe haven" in that country from which to coordinate "continental terrorist networks, including AQIM, MUJAO, Boko Haram [in Nigeria] and Al-Shabaab [in Somalia]."

Despite compelling evidence of the threat the Islamists pose to international peace and security, the U.N. has not been able to agree on funding what essentially would be a military offensive. U.N. Security Council resolution 2085, passed on 20 December last year, only agreed to a voluntary contribution and the setting up of a trust fund, and requested the secretary-general "develop and refine options within 30 days" in this regard. The deadline should be 20 January.

See also: Six reasons events in Mali matter

It is partly because of this U.N. inaction that few in Africa would label the French action in Mali as another neo-colonial mission creep.

If the Islamists had been allowed to capture the very strategic town of Sevaré, as they seemed intent on doing, they would have captured the only airstrip in Mali (apart from the airport in Bamako) capable of handling heavy cargo planes, and they would have been poised to attack the more populated south of the country.

Africa's weakness has, once again, been exposed by the might of a foreign power.
Lansana Gberie

Those Africans who would be critical of the French are probably stunned to embarrassment: Africa's weakness has, once again, been exposed by the might of a foreign power.

Watch video: French troops welcomed in Mali

Africans, however, can perhaps take consolation in the fact that the current situation in Mali was partially created by the NATO action in Libya in 2010, which France spearheaded. A large number of the well-armed Islamists and Tuareg separatists had fought in the forces of former Libyan leader Moammar Gadhafi, and then left to join the MNLA in northern Mali after Gadhafi fell.

They brought with them advanced weapons, including shoulder-launched anti-aircraft missiles from Libya; and two new Jihadist terrorist groups active in northern Mali right now, Ansar Dine and MUJAO, were formed out of these forces.

Many African states had an ambivalent attitude towards Gadhafi, but few rejoiced when he was ousted and killed in the most squalid condition.

A number of African countries, Nigeria included, have started to deploy troops in Mali alongside the French, and ECOWAS has stated the objective as the complete liberation of the north from the Islamists.

The Islamists are clearly not a pushover; though they number between 2,000 and 3,000 they are battle-hardened and fanatically driven, and will likely hold on for some time to come.

The question now is: what happens after, as is almost certain, France begins to wind down its forces, leaving the African troops in Mali?

Nigeria, which almost single-handedly funded previous ECOWAS interventions (in Liberia and Sierra Leone in the 1990s, costing billions of dollars and hundreds of Nigerian troops), has been reluctant to fund such expensive missions since it became democratic.

See also: Nigerians waiting for 'African Spring'

Its civilian regimes have to be more accountable to their citizens than the military regimes of the 1990s, and Nigeria has pressing domestic challenges. Foreign military intervention is no longer popular in the country, though the links between the northern Mali Islamists and the destructive Boko Haram could be used as a strategic justification for intervention in Mali.

The funding issue, however, will become more and more urgent in the coming weeks and months, and the U.N. must find a sustainable solution beyond a call for voluntary contributions by member states.

The opinions expressed in this commentary are solely those of Lansana Gberie.

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Forecast: Get ready for a deep freeze

A cold front moves over Chicago overnight that will send temperatures plunging, with below-zero possible early next week.

But no major precipitation is expected soon, meaning a lack-of-snow record will get longer.

As of early today, National Weather Service meteorologist Gino Izzi said the last time we had gone this far into the season without a 1-inch calendar day of snowfall was Jan. 17, 1899 -- so we set a record.

Additionally, it's been 327 days and counting since we've had a 1-inch snow cover on the ground. That record was officially broken in early January, according to Izzi.

The relatively mild temperatures we've seen in recent days will end as a blustery cold front moves in on strong winds overnight, with highs struggling to reach 18 on Sunday. The weather service says the front will pass through the area from northwest to southeast from 8 p.m. to midnight, with temperatures possibly dropping as much as 10 degrees in an hour as it passes.

With wind speeds from 15 to 55 mph, the resulting wind chill will combine with the low temperature for below-zero readings in some places after midnight, the agency said.

Monday will only reach a high of about 10 and could see a low about 1 below zero. There is a chance of snow flurries Monday, the weather service said, although it is not yet known if there's a chance to break the 1-inch level.

Tuesday will remain frigid, but temperatures are expected to begin moderating Wednesday into the 20s and we could reach just above freezing for a high on Thursday.

Authorities warn people to take extra care in the extreme cold, watch out for frostbite on any exposed skin areas while outside and to check on neighbors or family who might need help. In Chicago, heating help is available by calling 311.

The Illinois Tollway will launch its Zero Weather Road Patrols this weekend to assist drivers stranded in their cars during times of extreme cold.

The tollway anticipates activating Zero Patrols overnight Saturday and into the day Monday, until the temperature and/or wind chill rises above zero, according to a tollway release.

The 24-hour service dedicates hourly patrols in search of motorists stranded in disabled vehicles or in response to calls that come in to *999 motorist assistance, Illinois Tollway dispatch or Illinois State Police District 15.

For the latest radar, conditions and forecasts, go to The Chicago Weather Center.

chicagobreaking@tribune.com
Twitter: @ChicagoBreaking

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Algerian army stages "final assault" on gas plant

ALGIERS/IN AMENAS, Algeria (Reuters) - The Algerian army carried out a dramatic final assault to end a siege by Islamic militants at a desert gas plant on Saturday, killing 11 al Qaeda-linked gunmen after they took the lives of seven more foreign hostages, the state news agency said.

The state oil and gas company, Sonatrach, said the militants who attacked the plant on Wednesday and took a large number of hostages had booby-trapped the complex with explosives, which the army was removing.

"It is over now, the assault is over, and the military are inside the plant clearing it of mines," a source familiar with the operation told Reuters.

British Defence Secretary Philip Hammond said the hostage situation had been "brought to an end" by the Algerian army assault on the militants.

The exact death toll among the gunmen and the foreign and Algerian workers at the plant near the town of In Amenas remained unclear, although a tally of reports from various sources indicated that several dozen people had been killed.

The Islamists' attack on the gas plant has tested Algeria's relations with the outside world, exposed the vulnerability of multinational oil operations in the Sahara and pushed Islamic radicalism in northern Africa to centre stage.

Some Western governments expressed frustration at not being informed of the Algerian authorities' plans to storm the complex. Algeria's response to the raid will have been conditioned by the legacy of a civil war against Islamist insurgents in the 1990s which claimed 200,000 lives.

HOSTAGES FREED

As the army closed in, 16 foreign hostages were freed, a source close to the crisis said. They included two Americans and one Portuguese. Britain said fewer than 10 of its nationals at the plant were unaccounted for and it was urgently seeking to establish the status of all Britions caught up in the crisis.

The base was home to foreign workers from Britain's BP, Norway's Statoil, Japanese engineering firm JGC Corp and others.

BP's chief executive Bob Dudley said on Saturday four of its 18 workers at the site were missing. The remaining 14 were safe.

The crisis at the gas plant marked a serious escalation of unrest in northwestern Africa, where French forces have been in Mali since last week fighting an Islamist takeover of Timbuktu and other towns.

The captors said their attack on the Algerian gas plant was a response to the French offensive in Mali. However, some U.S. and European officials say the elaborate raid probably required too much planning to have been organized from scratch in the week since France launched its strikes.

Scores of Westerners and hundreds of Algerian workers were inside the heavily fortified gas compound when it was seized before dawn on Wednesday by Islamist fighters who said they wanted a halt to the French intervention in neighboring Mali.

Hundreds escaped on Thursday when the army launched a rescue operation, but many hostages were killed.

Before the final assault, different sources had put the number of hostages killed at between 12 and 30, with many foreigners still unaccounted for, among them Norwegians, Japanese, Britons and Americans.

The figure of 30 came from an Algerian security source, who said eight Algerians and at least seven foreigners were among the victims, including two Japanese, two Britons and a French national. One British citizen was killed when the gunmen seized the hostages on Wednesday.

The U.S. State Department said on Friday one American, Frederick Buttaccio, had died but gave no further details.

U.S. Defense Secretary Leon Panetta said nobody was going to attack the United States and get away with it.

"We have made a commitment that we're going to go after al Qaeda wherever they are and wherever they try to hide," he said during a visit to London. "We have done that obviously in Afghanistan, Pakistan, we've done it in Somalia, in Yemen and we will do it in North Africa as well."

BURNED BODIES

Earlier on Saturday, Algerian special forces found 15 unidentified burned bodies at the plant, a source told Reuters.

The field commander of the group that attacked the plant is a fighter from Niger called Abdul Rahman al-Nigeri, according to Mauritanian news agencies. His boss, Mokhtar Belmokhtar, a veteran of fighting in Afghanistan in the 1980s and Algeria's civil war of the 1990s, appears not to have joined the raid.

Britain, Japan and other countries have expressed irritation that the army assault was ordered without consultation and officials grumbled at the lack of information.

But French President Francois Hollande said the Algerian military's response seemed to have been the best option given that negotiation was not possible.

"When you have people taken hostage in such large number by terrorists with such cold determination and ready to kill those hostages - as they did - Algeria has an approach which to me, as I see it, is the most appropriate because there could be no negotiation," Hollande said.

The apparent ease with which the fighters swooped in from the dunes to take control of an important energy facility, which produces some 10 percent of the natural gas on which Algeria depends for its export income, has raised questions over the value of outwardly tough Algerian security measures.

Algerian officials said the attackers may have had inside help from among the hundreds of Algerians employed at the site.

Security in the half-dozen countries around the Sahara desert has long been a preoccupation of the West. Smugglers and militants have earned millions in ransom from kidnappings.

The most powerful Islamist groups operating in the Sahara were severely weakened by Algeria's secularist military in the civil war in the 1990s. But in the past two years the regional wing of al Qaeda gained fighters and arms as a result of the civil war in Libya, when arsenals were looted from Muammar Gaddafi's army.

France says the hostage incident proves its decision to fight Islamists in neighboring Mali was necessary. Al Qaeda-linked fighters, many with roots in Algeria and Libya, took control of northern Mali last year.

(Additional reporting by Balazs Koranyi in Oslo, Estelle Shirbon and David Alexander in London, Brian Love in Paris; Writing by Giles Elgood; Editing by Mark Trevelyan and Rosalind Russell)

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Market flat on mixed earnings from Intel, Morgan Stanley

NEW YORK (Reuters) - The Dow and S&P 500 closed at five-year highs on Friday as the market registered a third straight week gains on a solid start to the earnings season.

The Dow Jones industrial average <.dji> was up 53.83 points, or 0.40 percent, at 13,649.85. The Standard & Poor's 500 Index <.spx> was up 5.01 points, or 0.34 percent, at 1,485.95. The Nasdaq Composite Index <.ixic> was down 1.30 points, or 0.04 percent, at 3,134.71.

(Reporting by Ryan Vlastelica; Editing by Kenneth Barry)

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Anti-doping officials say Armstrong must say more

For anti-doping officials, Lance Armstrong's admission of cheating was only a start. Now they want him to give details — lots of them — to clean up his sport.

Armstrong's much-awaited confession to Oprah Winfrey made for riveting television, but if the disgraced cyclist wants to take things further, it will involve several long days in meetings with anti-doping officials who have very specific questions: Who ran the doping programs, how were they run and who looked the other way.

"He didn't name names," World Anti-Doping Agency President John Fahey told The Associated Press in Australia. "He didn't say who supplied him, what officials were involved."

In the 90-minute interview Thursday night with Winfrey — the first of two parts broadcast on her OWN network — Armstrong said he started doping in the mid-1990s, using the blood booster EPO, testosterone, cortisone and human growth hormone, as well as engaging in outlawed blood doping and transfusions. The doping regimen, he said, helped him in all seven of his Tour de France wins.

His openness about his own transgressions, however, did not extend to allegations about other people. "I don't want to accuse anybody," he said.

But he might have to name names if he wants to gain anything from his confession, at least from anti-doping authorities.

Armstrong has been stripped of all his Tour de France titles and banned for life. A reduction of the ban, perhaps to eight years, could allow him to compete in triathlons in 2020, when he's 49.

Almost to a person, those in cycling and anti-doping circles believe it will take nothing short of Armstrong turning over everything he knows to stand any chance of cutting a deal to reduce his ban.

"We're left wanting more. We have to know more about the system," Tour de France race director Christian Prudhomme told the AP. "He couldn't have done it alone. We have to know who in his entourage helped him to do this."

U.S. Anti-Doping Agency chief Travis Tygart, who will have the biggest say about whether Armstrong can return to competition, also called his confession a small step in the right direction.

"But if he is sincere in his desire to correct his past mistakes, he will testify under oath about the full extent of his doping activities," he said.

Pierre Bordry, the head of the French Anti-Doping Agency from 2005-10, said there was nothing to guarantee that Armstrong isn't still lying and protecting others.

"He's going in the right direction, but with really small steps," Bordry said. "He needs to bring his testimony about the environment and the people who helped him. He should do it before an independent commission or before USADA and that would no doubt help the future of cycling."

It's doubtful Armstrong could get the same kind of leniency today as he might have had he chosen to cooperate with USADA during its investigation. But in an attempt to rid cycling of the doping taint it has carried for decades, USADA, WADA and the sport's governing body aren't satisfied with simply stopping at its biggest star. They still seek information about doctors, team managers and high-ranking executives.

Tyler Hamilton, whose testimony helped lead to Armstrong's downfall, says if Armstrong is willing to provide information to clean up the sport, a reduction in the sanctions would be appropriate, even if it might be hard to stomach after watching USADA's years of relentless pursuit of the seven-time Tour de France winner.

"The public should accept that," Hamilton said. "I'm all for getting people to come clean and tell the truth. I'm all for doctors, general managers and everyone else coming forward and telling the truth. I'm all for anyone who crossed the line coming forward and telling the truth. No. 1, they'll feel better personally. The truth will set you free."

The International Cycling Union (UCI) has been accused of protecting Armstrong and covering up positive tests, something Armstrong denied to Winfrey.

"I am pleased that after years of accusations being made against me, the conspiracy theories have been shown to be nothing more than that," said Hein Verbruggen, the president of the UCI from 1991-2005. "I have no doubt that the peddlers of such accusations and conspiracies will be disappointed by this outcome."

But Verbruggen was among the few who felt some closure after the first part of Armstrong's interview with Winfrey. The second was set for Friday night.

Most of the comments either urged him to disclose more, or felt it was too little, too late.

"There's always a portion of lies in what he says, in my opinion," retired cyclist and longtime Armstrong critic Christophe Bassons said. "He stayed the way I thought he would: cold, hard. He didn't let any sentiment show, even when he spoke of regrets. Well, that's Lance Armstrong. He's not totally honest even in his so-called confession. I think he admits some of it to avoid saying the rest."

___

AP Sports Writers Jerome Pugmire in Paris, Dennis Passa, John Pye and Neil Frankland in Melbourne; Stephen Wilson in London; Steve McMorran in Wellington, New Zealand; Nesha Starcevic in Frankfurt, Germany; and Andrew Dampf in Cortina, Italy, contributed to this report.

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Obama to focus on renewable energy, climate change

WASHINGTON (AP) — The White House says tackling climate change and enhancing energy security will be among President Barack Obama‘s top priorities in his second term.

Obama will have to do that work with new heads of the agencies responsible for the environment. Interior Secretary Ken Salazar, Environmental Protection chief Lisa Jackson and Jane Lubchenco, head of the National Oceanic and Atmospheric Administration, all have announced they are leaving. Energy Secretary Steven Chu is expected to follow his colleagues out the door in coming weeks.

The White House says no decisions have been made on replacements for any of the energy or environment jobs, but says Obama’s priorities will remain unchanged, including a focus on renewable energy sources such as wind and solar and expanded production of oil and natural gas.

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U.S. 'needs tougher child labor rules'

Cristina Traina says in his second term, Obama must address weaknesses in child farm labor standards

STORY HIGHLIGHTS

• Cristina Traina: Obama should strengthen child farm labor standards


• She says Labor Dept. rules allow kids to work long hours for little pay on commercial farms


• She says Obama administration scrapped Labor Dept. chief's proposal for tightening rules


• She says Labor Dept. must fix lax standards for kid labor on farmers; OSHA must enforce them

Editor's note: Cristina L.H. Traina is a Public Voices Op Ed fellow and professor at Northwestern University, where she is a scholar of social ethics.

(CNN) -- President Barack Obama should use the breathing space provided by the fiscal-cliff compromise to address some of the issues that he shelved during his last term. One of the most urgent is child farm labor. Perhaps the least protected, underpaid work force in American labor, children are often the go-to workers for farms looking to cut costs.

It's easy to see why. The Department of Labor permits farms to pay employees under 20 as little as $4.25 per hour. (By comparison, the federal minimum wage is $7.25.) And unlike their counterparts in retail and service, child farm laborers can legally work unlimited hours at any hour of day or night.

The numbers are hard to estimate, but between direct hiring, hiring through labor contractors, and off-the-books work beside parents or for cash, perhaps 400,000 children, some as young as 6, weed and harvest for commercial farms. A Human Rights Watch 2010 study shows that children laboring for hire on farms routinely work more than 10 hours per day.

As if this were not bad enough, few labor safety regulations apply. Children 14 and older can work long hours at all but the most dangerous farm jobs without their parents' consent, if they do not miss school. Children 12 and older can too, as long as their parents agree. Unlike teen retail and service workers, agricultural laborers 16 and older are permitted to operate hazardous machinery and to work even during school hours.

In addition, Human Rights Watch reports that child farm laborers are exposed to dangerous pesticides; have inadequate access to water and bathrooms; fall ill from heat stroke; suffer sexual harassment; experience repetitive-motion injuries; rarely receive protective equipment like gloves and boots; and usually earn less than the minimum wage. Sometimes they earn nothing.

Little is being done to guarantee their safety. In 2011 Secretary of Labor Hilda Solis proposed more stringent agricultural labor rules for children under 16, but Obama scrapped them just eight months later.

Adoption of the new rules would be no guarantee of enforcement, however. According to the 2010 Human Rights Watch report, the Department of Labor employees were spread so thin that, despite widespread reports of infractions they found only 36 child labor violations and two child hazardous order violations in agriculture nationwide.

This lack of oversight has dire, sometimes fatal, consequences. Last July, for instance, 15-year-old Curvin Kropf, an employee at a small family farm near Deer Grove, Illinois, died when he fell off the piece of heavy farm equipment he was operating, and it crushed him. According to the Bureau County Republican, he was the fifth child in fewer than two years to die at work on Sauk Valley farms.

If this year follows trends, Curvin will be only one of at least 100 children below the age of 18 killed on American farms, not to mention the 23,000 who will be injured badly enough to require hospital admission. According to Center for Disease Control and Prevention statistics, agriculture is one of the most dangerous industries. It is the most dangerous for children, accounting for about half of child worker deaths annually.

The United States has a long tradition of training children in the craft of farming on family farms. At least 500,000 children help to work their families' farms today.

Farm parents, their children, and the American Farm Bureau objected strenuously to the proposed new rules. Although children working on their parents' farms would specifically have been exempted from them, it was partly in response to worries about government interference in families and loss of opportunities for children to learn agricultural skills that the Obama administration shelved them.

Whatever you think of family farms, however, many child agricultural workers don't work for their parents or acquaintances. Despite exposure to all the hazards, these children never learn the craft of farming, nor do most of them have the legal right to the minimum wage. And until the economy stabilizes, the savings farms realize by hiring children makes it likely that even more of them will be subject to the dangers of farm work.

We have a responsibility for their safety. As one of the first acts of his new term, Obama should reopen the child agricultural labor proposal he shelved in spring of 2012. Surely, farm labor standards for children can be strengthened without killing off 4-H or Future Farmers of America.

Second, the Department of Labor must institute age, wage, hour and safety regulations that meet the standards set by retail and service industry rules. Children in agriculture should not be exposed to more risks, longer hours, and lower wages at younger ages than children in other jobs.

Finally, the Department of Labor and the Occupational Safety and Health Administration must allocate the funds necessary for meaningful enforcement of child labor violations. Unenforced rules won't protect the nearly million other children who work on farms.

Agriculture is a great American tradition. Let's make sure it's not one our children have to die for.

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The opinions expressed in this commentary are solely those of Cristina Traina.

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