Wall Street Week Ahead: Bears hibernate as stocks near record highs

NEW YORK (Reuters) - Stocks have been on a tear in January, moving major indexes within striking distance of all-time highs. The bearish case is a difficult one to make right now.

Earnings have exceeded expectations, the housing and labor markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of 2012, and money has returned to stock funds again.

The Standard & Poor's 500 Index <.spx> has gained 5.4 percent this year and closed above 1,500 - climbing to the spot where Wall Street strategists expected it to be by mid-year. The Dow Jones industrial average <.dji> is 2.2 percent away from all-time highs reached in October 2007. The Dow ended Friday's session at 13,895.98, its highest close since October 31, 2007.

The S&P has risen for four straight weeks and eight consecutive sessions, the longest streak of days since 2004. On Friday, the benchmark S&P 500 ended at 1,502.96 - its first close above 1,500 in more than five years.

"Once we break above a resistance level at 1,510, we dramatically increase the probability that we break the highs of 2007," said Walter Zimmermann, technical analyst at United-ICAP, in Jersey City, New Jersey. "That may be the start of a rise that could take equities near 1,800 within the next few years."

The most recent Reuters poll of Wall Street strategists estimated the benchmark index would rise to 1,550 by year-end, a target that is 3.1 percent away from current levels. That would put the S&P 500 a stone's throw from the index's all-time intraday high of 1,576.09 reached on October 11, 2007.

The new year has brought a sharp increase in flows into U.S. equity mutual funds, and that has helped stocks rack up four straight weeks of gains, with strength in big- and small-caps alike.

That's not to say there aren't concerns. Economic growth has been steady, but not as strong as many had hoped. The household unemployment rate remains high at 7.8 percent. And more than 75 percent of the stocks in the S&P 500 are above their 26-week highs, suggesting the buying has come too far, too fast.

MUTUAL FUND INVESTORS COME BACK

All 10 S&P 500 industry sectors are higher in 2013, in part because of new money flowing into equity funds. Investors in U.S.-based funds committed $3.66 billion to stock mutual funds in the latest week, the third straight week of big gains for the funds, data from Thomson Reuters' Lipper service showed on Thursday.

Energy shares <.5sp10> lead the way with a gain of 6.6 percent, followed by industrials <.5sp20>, up 6.3 percent. Telecom <.5sp50>, a defensive play that underperforms in periods of growth, is the weakest sector - up 0.1 percent for the year.

More than 350 stocks hit new highs on Friday alone on the New York Stock Exchange. The Dow Jones Transportation Average <.djt> recently climbed to an all-time high, with stocks in this sector and other economic bellwethers posting strong gains almost daily.

"If you peel back the onion a little bit, you start to look at companies like Precision Castparts , Honeywell , 3M Co and Illinois Tool Works - these are big, broad-based industrial companies in the U.S. and they are all hitting new highs, and doing very well. That is the real story," said Mike Binger, portfolio manager at Gradient Investments, in Shoreview, Minnesota.

The gains have run across asset sizes as well. The S&P small-cap index <.spcy> has jumped 6.7 percent and the S&P mid-cap index <.mid> has shot up 7.5 percent so far this year.

Exchange-traded funds have seen year-to-date inflows of $15.6 billion, with fairly even flows across the small-, mid- and large-cap categories, according to Nicholas Colas, chief market strategist at the ConvergEx Group, in New York.

"Investors aren't really differentiating among asset sizes. They just want broad equity exposure," Colas said.

The market has shown resilience to weak news. On Thursday, the S&P 500 held steady despite a 12 percent slide in shares of Apple after the iPhone and iPad maker's results. The tech giant is heavily weighted in both the S&P 500 and Nasdaq 100 <.ndx> and in the past, its drop has suffocated stocks' broader gains.

JOBS DATA MAY TEST THE RALLY

In the last few days, the ratio of stocks hitting new highs versus those hitting new lows on a daily basis has started to diminish - a potential sign that the rally is narrowing to fewer names - and could be running out of gas.

Investors have also cited sentiment surveys that indicate high levels of bullishness among newsletter writers, a contrarian indicator, and momentum indicators are starting to also suggest the rally has perhaps come too far.

The market's resilience could be tested next week with Friday's release of the January non-farm payrolls report. About 155,000 jobs are seen being added in the month and the unemployment rate is expected to hold steady at 7.8 percent.

"Staying over 1,500 sends up a flag of profit taking," said Jerry Harris, president of asset management at Sterne Agee, in Birmingham, Alabama. "Since recent jobless claims have made us optimistic on payrolls, if that doesn't come through, it will be a real risk to the rally."

A number of marquee names will report earnings next week, including bellwether companies such as Caterpillar Inc , Amazon.com Inc , Ford Motor Co and Pfizer Inc .

On a historic basis, valuations remain relatively low - the S&P 500's current price-to-earnings ratio sits at 15.66, which is just a tad above the historic level of 15.

Worries about the U.S. stock market's recent strength do not mean the market is in a bubble. Investors clearly don't feel that way at the moment.

"We're seeing more interest in equities overall, and a lot of flows from bonds into stocks," said Paul Zemsky, who helps oversee $445 billion as the New York-based head of asset allocation at ING Investment Management. "We've been increasing our exposure to risky assets."

For the week, the Dow climbed 1.8 percent, the S&P 500 rose 1.1 percent and the Nasdaq advanced 0.5 percent.

(Reporting by Ryan Vlastelica; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

Read More..

India Ink: Five Questions For: Prajwal Parajuly

Prajwal Parajuly is an Indian writer whose first book “The Gurkha’s Daughter,” a collection of short stories on Nepalese-speaking people, was recently released in India. He spoke to India Ink from the Jaipur Literature Festival.

What are the occupational hazards of being a writer?

When there is a lot of adulation coming in a short time — one doesn’t feel grounded. Second, I would say, a lot of people assume you don’t have a nine-to-five job. My health has taken a back seat. I write late at night.

What is your writing ritual?

I write only when I think. I do a major chunk of writing in my hometown of Gangtok [in Sikkim state]. I did my first draft with a multitude of ellipses.

Why does the Jaipur Literature Festival matter to you?

When I was invited, I was told by people that you are a debut author and you can’t miss the Jaipur Literature Festival. I feel I am the most insignificant author here. But I am enjoying the festival.

How do you deal with critics?

I have learned that a lot of praise is unmerited and so is a lot of criticism. I try not to take it seriously. You can’t be 28 and writing considerably!

Why should we read your book?

Buy it because the cover is beautiful and would look great on your mantelpiece.

Read More..

Somalia militants’ Twitter account down after hostage threat

NAIROBI (Reuters) – A Twitter account run by Somali militant group al Shabaab was unavailable on Friday, days after the al Qaeda-aligned rebels used the social media site to boast about killing a French agent and threatened to kill several Kenyan hostages.

Al Shabaab often used its Twitter account to claim responsibility for attacks on African Union and Somali government troops, as well as senior officials in the Horn of Africa nation and other bombings in the region.

But the militant group’s official Twitter account, which had thousands of followers, was offline on Friday with a message saying “Sorry, that user is suspended”.

It was not immediately clear why the account, which was created in 2011 under the HSM PRESS Twitter handle, was suspended. The account was still unavailable as of 0930 GMT.

Twitter said it does not comment on individual accounts and the Kenyan government denied it had filed any request for the account to be taken down.

“It’s an emphatic no. We would not try to negotiate or have anything to do with the Al Shabaab. We didn’t even know the account was suspended,” said government spokesman Muthui Kariuki.

Al Shabaab posted on the account on Wednesday a link to a video of two Kenyan civil servants held hostage in Somalia, telling the Kenyan government their lives were in danger unless it released all Muslims held on “so-called terrorism charges” in the country.

“Kenyan government has three weeks, starting midnight 24/01/2013 to respond to the demands of HSM if the prisoners are to remain alive,” the group said.

Last week the rebel group said on its Twitter account that it had executed French agent Dennis Allex, who was held hostage since 2009, after a French commando mission to rescue him failed.

Al Shabaab wants to impose their strict version of sharia, or Islamic law, across Somalia. However, it has lost significant territory in the southern and central parts of the country in the face of an offensive by African Union troops.

(Reporting by Drazen Jorgic and George Obulutsa; Editing by Jon Boyle)

Social Media News Headlines – Yahoo! News

Title Post: Somalia militants’ Twitter account down after hostage threat
Url Post: http://www.news.fluser.com/somalia-militants-twitter-account-down-after-hostage-threat/
Link To Post : Somalia militants’ Twitter account down after hostage threat
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Vanessa Lachey: How I Told Nick I Was Pregnant

Courtesy of the Lacheys

After their destination wedding on the beaches of Necker Island in 2011, newlyweds Nick and Vanessa Lachey were ready to begin making good on the promise of a brood of babies.

But six months into trying to get pregnant, Vanessa was ready to call it quits — at least temporarily — to allow nature to take its course.

“Honestly, by mid-December, I resigned myself to the notion that it was not going to be easy for us,” she writes on her new website. “So, I decided that I had to just ‘let go.’”

Spending time settling into their new Los Angeles home while the couple wrapped up projects — Vanessa was busy filming Wipeout — the pair first planned a family trip to the Bahamas for a chance to unwind.

“Before we could relax and soak in the sun, I had to film [an] appearance and would meet everyone in the Bahamas the next day,” Vanessa explains.

After work, the actress headed out to celebrate a friend’s birthday — where telltale signs of pending parenthood suddenly began to pop up.

“I wanted absolutely everything on the menu! I also remember NOT wanting my martini,” she recalls. “After dinner something in my gut said, ‘Let’s go back to the hotel … and pick up a pregnancy test on the way!’”

Proving a mother knows best, it was positive — only to be confirmed by a big batch of follow-up tests. “I was in absolute shock! I had taken a pregnancy test multiple times every month over the past six months, but this one (and the nine others I took that night) was positive,” Vanessa writes. “It was such a beautiful moment. The only thing missing was my husband, of course.”

But with Nick waiting for his wife in the Bahamas, the mom-to-be managed to contain her excitement, keeping mum until she could spill the beans in person.

“I wanted to look into his eyes when I said, ‘I’m pregnant,’” she shares. “I wanted to feel his hug when he grabbed me with excitement. I wanted to take in the surroundings so that I would always remember the exact moment I told him he was going to be a father.”

Following “the longest night I can remember,” Vanessa began the trek to the Bahamas — a journey that “seemed like an absolute eternity!” — to join Nick. Once she arrived, the expectant star quickly settled in and headed with her husband for a seaside stroll.

“All I kept thinking about was this little life inside of me that WE made. He was growing and we were going to become a family,” she says. “At that moment everything in me felt so right. I was bursting with emotion and wanting to tell Nick the good news.”

Vanessa was finally ready to break the news to the unknowing dad-to-be – a moment she will remember forever. “I took a deep breath, grabbed his hands, looked him in the eyes and told him, ‘I’M PREGNANT!” she writes.

“He looked at me and asked if I was serious. I said yes, we hugged and then he said, ‘I think I have to sit down!’ That was Jan. 6, 2012.”

Now the proud parents of son Camden John, 4 months, the tight knit trio revisited the same spot where Nick and Vanessa shared the sweet moment exactly one year later, a special anniversary caught on tape.

“We will always have that memory together and now Cam will have one, too,” the new mom shares. ”I took this video that I will embarrass him with in the future, and I’m happy to share a piece of it with you.”

– Anya Leon

For more exclusive content from Vanessa Lachey, visit her newly-launched website.

Read More..

Penalty could keep smokers out of health overhaul

WASHINGTON (AP) — Millions of smokers could be priced out of health insurance because of tobacco penalties in President Barack Obama's health care law, according to experts who are just now teasing out the potential impact of a little-noted provision in the massive legislation.

The Affordable Care Act — "Obamacare" to its detractors — allows health insurers to charge smokers buying individual policies up to 50 percent higher premiums starting next Jan. 1.

For a 55-year-old smoker, the penalty could reach nearly $4,250 a year. A 60-year-old could wind up paying nearly $5,100 on top of premiums.

Younger smokers could be charged lower penalties under rules proposed last fall by the Obama administration. But older smokers could face a heavy hit on their household budgets at a time in life when smoking-related illnesses tend to emerge.

Workers covered on the job would be able to avoid tobacco penalties by joining smoking cessation programs, because employer plans operate under different rules. But experts say that option is not guaranteed to smokers trying to purchase coverage individually.

Nearly one of every five U.S. adults smokes. That share is higher among lower-income people, who also are more likely to work in jobs that don't come with health insurance and would therefore depend on the new federal health care law. Smoking increases the risk of developing heart disease, lung problems and cancer, contributing to nearly 450,000 deaths a year.

Insurers won't be allowed to charge more under the overhaul for people who are overweight, or have a health condition like a bad back or a heart that skips beats — but they can charge more if a person smokes.

Starting next Jan. 1, the federal health care law will make it possible for people who can't get coverage now to buy private policies, providing tax credits to keep the premiums affordable. Although the law prohibits insurance companies from turning away the sick, the penalties for smokers could have the same effect in many cases, keeping out potentially costly patients.

"We don't want to create barriers for people to get health care coverage," said California state Assemblyman Richard Pan, who is working on a law in his state that would limit insurers' ability to charge smokers more. The federal law allows states to limit or change the smoking penalty.

"We want people who are smoking to get smoking cessation treatment," added Pan, a pediatrician who represents the Sacramento area.

Obama administration officials declined to be interviewed for this article, but a former consumer protection regulator for the government is raising questions.

"If you are an insurer and there is a group of smokers you don't want in your pool, the ones you really don't want are the ones who have been smoking for 20 or 30 years," said Karen Pollitz, an expert on individual health insurance markets with the nonpartisan Kaiser Family Foundation. "You would have the flexibility to discourage them."

Several provisions in the federal health care law work together to leave older smokers with a bleak set of financial options, said Pollitz, formerly deputy director of the Office of Consumer Support in the federal Health and Human Services Department.

First, the law allows insurers to charge older adults up to three times as much as their youngest customers.

Second, the law allows insurers to levy the full 50 percent penalty on older smokers while charging less to younger ones.

And finally, government tax credits that will be available to help pay premiums cannot be used to offset the cost of penalties for smokers.

Here's how the math would work:

Take a hypothetical 60-year-old smoker making $35,000 a year. Estimated premiums for coverage in the new private health insurance markets under Obama's law would total $10,172. That person would be eligible for a tax credit that brings the cost down to $3,325.

But the smoking penalty could add $5,086 to the cost. And since federal tax credits can't be used to offset the penalty, the smoker's total cost for health insurance would be $8,411, or 24 percent of income. That's considered unaffordable under the federal law. The numbers were estimated using the online Kaiser Health Reform Subsidy Calculator.

"The effect of the smoking (penalty) allowed under the law would be that lower-income smokers could not afford health insurance," said Richard Curtis, president of the Institute for Health Policy Solutions, a nonpartisan research group that called attention to the issue with a study about the potential impact in California.

In today's world, insurers can simply turn down a smoker. Under Obama's overhaul, would they actually charge the full 50 percent? After all, workplace anti-smoking programs that use penalties usually charge far less, maybe $75 or $100 a month.

Robert Laszewski, a consultant who previously worked in the insurance industry, says there's a good reason to charge the maximum.

"If you don't charge the 50 percent, your competitor is going to do it, and you are going to get a disproportionate share of the less-healthy older smokers," said Laszewski. "They are going to have to play defense."

___

Online:

Kaiser Health Reform Subsidy Calculator — http://healthreform.kff.org/subsidycalculator.aspx

Read More..

Stock futures edge up, S&P 500 poised to extend rally

NEW YORK (Reuters) - Stock index futures gained on Friday after Procter & Gamble reported a higher quarterly profit and as the S&P 500 looked set to extend its best winning streak in more than six years.

The strong start to the year has been attributed to solid corporate earnings, agreement in Washington over raising the debt limit, encouraging recovery signs in the global economy and seasonal inflows to equity markets.

Those factors helped the S&P 500 rally for a seventh day on Thursday to a five-year peak. But the index is struggling to move convincingly above 1,500, a level it surpassed briefly Thursday for the first time since December 2007.

"You have had more confidence from fund managers to provide more allocations to equity markets," said Rick Meckler, president of investment firm LibertyView Capital Management, who added equities were looking more attractive than bonds or cash.

Procter & Gamble , the world's top household products maker reported a higher profit on Friday and raised its sales and earnings outlook for the fiscal year. Shares were up 1.4 pct at $71.42 in premarket trading.

Earnings have helped drive the stock market's recent rally. Thomson Reuters data through early Thursday showed that of the 133 S&P 500 companies that have reported earnings so far, 66.9 percent have exceeded expectations, above the 65 percent average over the past four quarters.

Microsoft Corp's quarterly profit edged lower as Office software sales slowed ahead of a new launch, offsetting a solid but unspectacular start for its Windows 8 operating system and sending the company's shares down 1.1 percent.

S&P 500 futures rose 3.2 point 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 rose 44 points and Nasdaq 100 futures rose 9.75 points.

Echoing a more positive tone in Europe, ECB President Mario Draghi said he expects the euro zone economy to recover later this year, adding that financial market improvements have not yet trickled into the general economy. Draghi was speaking at the World Economic Forum in Davos on Friday.

Halliburton , the world's second-largest oilfield services company, is also due to report results.

Apple stepped up audits of working conditions at major suppliers last year, discovering multiple cases of underage workers, discrimination and wage problems. The shares, which fell 12 percent Thursday after disappointing earnings, edged up 0.2 percent to $451.80.

Honeywell , the diversified U.S. manufacturer, will be in focus as it reports earnings, with modest growth in demand for systems used to manage large buildings expected to be offset by declining sales to the military.

The Commerce Department releases new home sales data for December at 10:00 a.m. (1500 GMT). Economists forecast a total of 385,000 annualized units, compared with 377,000 in November.

Economic Cycle Research Institute releases its weekly index of economic activity for January 18 at 10:30 a.m. (1530 GMT). In the prior week the index read 130.

European shares <.fteu3> rose 0.1 percent after a survey showed German business morale improved for a third consecutive month in January.

(Editing by Bernadette Baum)

Read More..

IHT Rendezvous: Save a Tree, Use Real Cork

ESTREMOZ, Portugal— I had always thought plastic wine corks and screw caps were tacky, but now I have a good reason for avoiding them.

Buying wine with real corks helps preserve the cork forests of Portugal and the wider western Mediterranean, which are, it turns out, ecological marvels. I write about the discovery, on a recent trip to Portugal, in my latest Green column.

Cork oaks and their scrubby cousins, holm oaks, are well adapted to the hot dry summers of the region. They help prevent these places from turning into deserts. Their stands are rich in plants and — when the farmers restrain themselves from shooting everything in sight — animals, especially birds.

What’s unique about cork is that the thick bark can be harvested from the trees without cutting them down. A skilled crew hacks the bark off with axes. If done right, it grows back. You can see the process in this introduction to cork forests by Luisa Nunes and Carlos Reis:

So the cork oaks form the basis of a sustainable industry that has existed for centuries. The cork is harvested every summer for wine stoppers and other uses. The trees don’t need fertilizer. They are hard not to love.

Synthetic corks are the enemy of this ecologist’s heaven. They have slashed the world market share of real cork by perhaps 20 percent in the last decade, according to Wine Intelligence, a London research concern. That has brought down prices, reducing incentives to grow and maintain cork groves.

One needs a lot of patience and dedication to grow cork. The trees can only be harvested every decade or so and require years—some people say up to 50—from the time they are originally planted to when they can be first harvested. You are doing it for your grandchildren or for the ecosystem, and that is not always an easy sell in the 21st century.

Fortunately, cork trees are protected in Portugal, the leading producer.

Read More..

Sony fined in UK over PlayStation cyberattack

LONDON (AP) — British regulators have fined Sony 250,000 pounds ($ 396,100) for failing to prevent a 2011 cyberattack on its PlayStation Network which put millions of users’ personal information — including names, addresses, birth dates and account passwords — at risk.

Britain’s Information Commissioner’s Office said Thursday that security measures in place at the time “were simply not good enough.” It said the attack could have been prevented if software had been up to date, while passwords were also not secure.

David Smith, deputy commissioner and director of data protection, acknowledged that the fine for a “serious breach of the Data Protection Act” was “clearly substantial” but said that the office makes “no apologies” for that.

“There’s no disguising that this is a business that should have known better,” he said in a statement. “It is a company that trades on its technical expertise, and there’s no doubt in my mind that they had access to both the technical knowledge and the resources to keep this information safe.”

Smith called the case “one of the most serious ever reported” to the data regulator.

Sony, which has previously apologized for the data breach, said Thursday it “strongly disagrees” with the ruling and plans to appeal.

David Wilson, a spokesman for Sony Computer Entertainment Europe Ltd., said the company noted that the ICO recognized that Sony was the victim of a criminal attack and that there is no evidence payment card details were accessed.

“Criminal attacks on electronic networks are a real and growing aspect of 21st century life and Sony continually works to strengthen our systems, building in multiple layers of defense and working to make our networks safe, secure and resilient,” he said in a statement.

————————

Cassandra Vinograd can be reached at http://twitter.com/CassVinograd

Gaming News Headlines – Yahoo! News

Title Post: Sony fined in UK over PlayStation cyberattack
Url Post: http://www.news.fluser.com/sony-fined-in-uk-over-playstation-cyberattack/
Link To Post : Sony fined in UK over PlayStation cyberattack
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Style Rx: Julianne Hough’s Almost-There Outfit

Stylewatch
Style News Now

01/22/2013 at 06:00 PM ET

O’Neill/White/INF

Who: Julianne Hough

Where: A visit to Toronto’s Much Music studios to promote her film Safe Haven

Diagnosis: We love Hough’s fun approach to fashion, but it’s time to get serious about her ongoing string of not-quite-there outfits. The ensemble at left suffers from overstyling, identity confusion and stumpifying booties.

Prescription: Keep the Ann Taylor jacket but ditch the prissy lace-collared blouse for a less fussy sheer white tee. We get where you were going with the Asos shorts, but think this sleek print pencil skirt would look way more chic and flattering. Then take two classic black pumps and call us in the morning.

Tell us: How would you cure Julianne Hough’s ensemble?

–Alex Apatoff

PHOTOS: SEE MORE QUESTIONABLE OUTFITS HERE, THEN VOTE: OBSESSED OR HOT MESS?

Read More..

Women have caught up to men on lung cancer risk

Smoke like a man, die like a man.

U.S. women who smoke today have a much greater risk of dying from lung cancer than they did decades ago, partly because they are starting younger and smoking more — that is, they are lighting up like men, new research shows.

Women also have caught up with men in their risk of dying from smoking-related illnesses. Lung cancer risk leveled off in the 1980s for men but is still rising for women.

"It's a massive failure in prevention," said one study leader, Dr. Michael Thun of the American Cancer Society. And it's likely to repeat itself in places like China and Indonesia where smoking is growing, he said. About 1.3 billion people worldwide smoke.

The research is in Thursday's New England Journal of Medicine. It is one of the most comprehensive looks ever at long-term trends in the effects of smoking and includes the first generation of U.S. women who started early in life and continued for decades, long enough for health effects to show up.

The U.S. has more than 35 million smokers — about 20 percent of men and 18 percent of women. The percentage of people who smoke is far lower than it used to be; rates peaked around 1960 in men and two decades later in women.

Researchers wanted to know if smoking is still as deadly as it was in the 1980s, given that cigarettes have changed (less tar), many smokers have quit, and treatments for many smoking-related diseases have improved.

They also wanted to know more about smoking and women. The famous surgeon general's report in 1964 said smoking could cause lung cancer in men, but evidence was lacking in women at the time since relatively few of them had smoked long enough.

One study, led by Dr. Prabhat Jha of the Center for Global Health Research in Toronto, looked at about 217,000 Americans in federal health surveys between 1997 and 2004.

A second study, led by Thun, tracked smoking-related deaths through three periods — 1959-65, 1982-88 and 2000-10 — using seven large population health surveys covering more than 2.2 million people.

Among the findings:

— The risk of dying of lung cancer was more than 25 times higher for female smokers in recent years than for women who never smoked. In the 1960s, it was only three times higher. One reason: After World War II, women started taking up the habit at a younger age and began smoking more.

—A person who never smoked was about twice as likely as a current smoker to live to age 80. For women, the chances of surviving that long were 70 percent for those who never smoked and 38 percent for smokers. In men, the numbers were 61 percent and 26 percent.

—Smokers in the U.S. are three times more likely to die between ages 25 and 79 than non-smokers are. About 60 percent of those deaths are attributable to smoking.

—Women are far less likely to quit smoking than men are. Among people 65 to 69, the ratio of former to current smokers is 4-to-1 for men and 2-to-1 for women.

—Smoking shaves more than 10 years off the average life span, but quitting at any age buys time. Quitting by age 40 avoids nearly all the excess risk of death from smoking. Men and women who quit when they were 25 to 34 years old gained 10 years; stopping at ages 35 to 44 gained 9 years; at ages 45 to 54, six years; at ages 55 to 64, four years.

—The risk of dying from other lung diseases such as emphysema and chronic bronchitis is rising in men and women, and the rise in men is a surprise because their lung cancer risk leveled off in 1980s.

Changes in cigarettes since the 1960s are a "plausible explanation" for the rise in non-cancer lung deaths, researchers write. Most smokers switched to cigarettes that were lower in tar and nicotine as measured by tests with machines, "but smokers inhaled more deeply to get the nicotine they were used to," Thun said. Deeper inhalation is consistent with the kind of lung damage seen in the illnesses that are rising, he said.

Scientists have made scant progress against lung cancer compared with other forms of the disease, and it remains the leading cause of cancer deaths worldwide. More than 160,000 people die of it in the U.S. each year.

The federal government, the Canadian Institutes of Health Research, the Bill and Melinda Gates Foundation, the cancer society and several universities paid for the new studies. Thun testified against tobacco companies in class-action lawsuits challenging the supposed benefits of cigarettes with reduced tar and nicotine, but he donated his payment to the cancer society.

Smoking needs more attention as a health hazard, Dr. Steven A. Schroeder of the University of California, San Francisco, wrote in a commentary in the journal.

"More women die of lung cancer than of breast cancer. But there is no 'race for the cure' for lung cancer, no brown ribbon" or high-profile advocacy groups for lung cancer, he wrote.

Kathy DeJoseph, 62, of suburban Atlanta, finally quit smoking after 40 years — to qualify for lung cancer surgery last year.

"I tried everything that came along, I just never could do it," even while having chemotherapy, she said.

It's a powerful addiction, she said: "I still every day have to resist wanting to go buy a pack."

___

Online:

American Cancer Society: http://www.cancer.org

National Cancer Institute: http://www.cancer.gov/cancertopics/tobacco/smoking and http://www.cancer.gov/cancertopics/types/lung

Medical journal: http://www.nejm.org

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

Read More..