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NEW YORK – The daredevils are winning big this year.

Investors who bought the riskiest stocks when the economic recovery was in doubt this year are clocking the biggest gains. Among them: stocks from companies at risk of defaulting on their debt, ones already priced high and those that other investors bet would drop fast. Returns from this dicey lot are as much as double the gains in the broad market.

"Greed is increasing, and people are going to risky stocks for higher return," says Paul Hickey, co-founder of stock researcher Bespoke Investment Group.

Consider shares of companies that rating agencies think could stiff lenders. Stocks of so-called junk-rated companies rose 19 percent from the start of the year through Dec. 16, according to Bespoke. By comparison, those of stable and flush companies with ratings of AA or higher returned six percent.

One possible reason risky stocks are booming: the stop-and-go economic recovery. The idea is that some investors who buy risky shares in recoveries held back earlier this year out of fear this one would stall. Now they are jumping in and that is extending the rally. Typically, riskier stocks rise the most early in recoveries because they fall the most in the recessions preceding them. During a recession, investors figure high-risk companies won't churn out profits or even stay in business. But then bargain hunters pounce on the survivors in anticipation of better times and the stocks climb fast — for a while at least. Eventually, investors shift money into bigger, more stable companies called blue chips as the recovery gathers steam.

But this time, 21 months into the rally, investors still prefer the dangerous over the dull.

"We spent most of the year worried about earnings and a double dip," says Mark Bronzo, manager of Security Global's big company fund. But then "earnings came in better than expected and people are playing catch-up."

The danger now is that small investors who are edging back into stocks will buy these high flyers just as the trend breaks and prices fall.

Investors are "pulling money out of bond funds but where is the money going?" says Steven Ricchiuto, chief economist at Mizuho Securities. "We've had a huge run. I'd get more defensive now."

Conventional wisdom says that at this point in the bull, investors should avoid stocks priced high compared with their earnings. A low price-earnings ratio suggests a stock is a bargain. But if you followed that strategy, you would have missed out on big returns this year. The 10 percent of stocks in the Standard & Poor's 500 index with the highest price-earnings ratios at the start of the year returned 23 percent through Dec. 16, according to Bespoke. That was eight percentage points higher than the return for stocks with the lowest price-earnings ratios.

Likewise, stocks that Wall Street traders targeted for so-called short sales have shot up. In a short sale, an investor bets against a stock by borrowing shares and selling them. If the stock falls, the investor can buy back the shares and return them to the original owner, pocketing the difference. But the 10 percent of stocks in the S&P 500 that attracted the most short sales at the start of the year are up 26 percent, according to data provider FactSet. Those with the least short sales rose 17 percent.

Another winner in the stop-and-go economy: stocks of so-called cyclical companies whose profits are bound up tightly with economic cycles. Consumer discretionary companies like toy maker Mattel Inc., for instance, gained 90 percent last year from their lows as investors anticipated that people would spend more on non-essentials. Then prices kept rising, up another 25 percent this year. What's more, they've trounced stocks of non-cyclicals whose sales are steadier and should be outperforming now. Stocks of consumer staple providers like Campbell Soup Co. have returned 11 percent.

Stocks of small firms are beating stocks of big companies, too. Big companies are thought safer because they sell many products and services in many countries and can tap various sources to finance themselves. Yet the S&P Small Cap 600 index, after returning 85 percent last year from its March low, is up another 24 percent in 2010. That's more than double the 11 percent gain in the S&P 500, a large-company index.

"These things go in cycles," says USAA stock manager Arnold Espe of the small-stock outperformance. "We think we're at an inflection point."

Alas, some experts were saying the same thing 10 months into the rally a year ago.

Pioneer Investments' John Carey owns Pfizer Inc. and Eli Lilly & Co., drug makers with fat dividends but whose stocks have been hurt by fears that President Barack Obama's health care plan will eat into profits. A shift by investors into blue chips, which he figures is already six months overdue, would have helped lift those stocks. No dice. Pfizer is down 2.1 percent so far this year while Eli Lilly is up 4 percent, a third of the S&P 500's gain.

"During the course of a bull market, people start focusing more on dividends and earnings" but that hasn't happened, Carey says. But he adds, "I'm a patient investor."

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By STEPHEN BERNARD and PALLAVI GOGOI, AP Business Writer Stephen Bernard And Pallavi Gogoi, Ap Business Writer – Fri?Nov?12, 5:50?pm?ET

NEW YORK – The stock market recorded its biggest weekly drop in three months as a feeling of malaise took over after the U.S. failed to rally world leaders to come up with plans to strengthen global growth.

"The G-20 wasn't much of a success for the U.S.," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "There's a sense that nobody really has the ideas on how to get us out of here."

On Friday, stocks and commodities took another nosedive on worries that China might put the brakes on its surging economy. Any cooling of China's economy would slow down demand for raw materials, and that sent prices of oil, metals and grains tumbling.

The Dow Jones industrial average fell 90.52, or 0.80 to 11,192.58, led by sharp losses in energy and materials stocks. Construction giant Caterpillar Inc., which has huge operations in China, fell 1.40 percent to $81.04 and oil company ExxonMobil Corp. fell 0.84 percent to $70.99.

For the week, the Dow was off 2.2 percent, its seventh-largest weekly drop this year and its biggest weekly fall since the week ending Aug. 13.

The Standard & Poor's 500 index fell 14.43, or 1.2 percent, to 1,199.21, while the Nasdaq composite index fell 37.31, or 1.5 percent, to 2,518.21.

The Chinese government said that the pace of inflation hit a more than two-year high in October. The markets took that as a signal that the China would hike rates to tamp down inflation. It led to a sell off in global markets, from China to the U.S. The Shanghai composite index plummeted 5.2 percent, while Hong Kong's Hang Seng fell 1.9 percent.

Gold fell $37.80, or 2.7 percent, to $1,365.50 an ounce. Crude oil fell $2.93, or 3.3 percent, to $84.88 a barrel, while soybeans plummeted 70 cents, or 5.2 percent, to $12.69 a bushel.

China's robust economy has helped offset sluggishness in developed markets like the U.S. and Europe. Many companies, like Caterpillar and McDonald's Corp. have credited international sales, particularly in China, as a reason earnings have been strong.

The speculation about a rate hike in China came as little headway was made on a plan to strengthen global growth. Leaders from the Group of 20, which includes large developed and emerging economies, failed to agree on policies about trade and currency manipulation that could stoke protectionism and a trade war.

Other nations refused to endorse a plan the U.S. presented to force China to allow the value of its currency to rise. The U.S. argues that China is keeping the value of its currency artificially low because a weak currency makes exports cheaper and more attractive globally. That, in turn, gives China an unfair advantage in global markets, helping its economy at the expense of others.

The dollar resumed its slide against other major currencies. It had rallied in recent days, particularly against the euro, as Ireland's debt crunch renewed worries about the European financial system. A fiscal crisis in Greece this spring helped bring down stocks around the world, and investors are hoping Ireland can right its own finances without having to seek a bailout as Greece did.

Bond prices fell, sending interest rates higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.78 percent from 2.65 percent the previous day.

Intel Corp. was among the few gainers Friday, rising 1.51 percent to $21.53 after the chip maker said it will raise its dividend 15 percent.

Falling shares outnumbered gaining ones five to one on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares.

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NEW YORK – Stock market recorded its great weekly fall within three months as a sense of discomfort resumed after the United States failed to rally the leaders of the world to find plans to strengthen global growth.

"The G-20 is very successful for United States," said Kim Caughey Forrest, Fort Pitt Capital Group equity research analyst. " There is a sense that nobody really ideas on how to get out us of here.?

Friday, stocks and commodities has had another failure the concerns that China could put the brakes on its rise in the economy.Cooling of the Chinese economy will slow down the demand for raw materials, and who sent tumbling grain, metal and oil prices.

The Dow Jones industrial average fell 90.52 or 0.80 to 11,192.58 losses led sharp in giant matériaux.Construction and energy stocks Caterpillar Inc., which has major operations in China, fell from 1.40% to $81 and oil company ExxonMobil Corp. fell from 0.84% $70.99.

For the week, the Dow Jones index has been off the coast of 2.2 per cent, his seventh largest weekly fall this year and its biggest weekly fall since the week ending August 13.

Standard & Poor 500 index fell 14.43, or 1.2%, 1,199.21, while the Nasdaq composite index dropped 37.31 or 1.5%, 2,518.21.

The Chinese Government said that the pace of inflation has reached more than two years in October.Markets has taken as a signal that China would be a rate hike to pack on inflation Institute led to a sale on world markets, China offshore in the United States.Shanghai composite index plummeted 5.2%, while Hong Kong Hang Seng decreased by 1.9%.

Gold fell from $37.80, or 2.7%, to $1,365.50 an ounce.Crude oil fell $2.93, or 3.3%, to $84.88 per barrel, while soy plummeted 70 cents, or 5.2%, to $12.69 a bushel.

Its robust economy helped offset slower in developed markets as the United States and in Europe.Many companies as Caterpillar and Corp. McDonald were credited with international sales, particularly in China, as a reason earnings were strong.

Speculation about an increase in rates in China has been little progress was made on a plan to strengthen growth mondiale.Les leaders of the Group of 20, which includes a large developed and new economies, has failed to agree on policies on the handling of trade and currency which could feed protectionism and a trade war.

Other nations refused to adopt a plan to the United States presented to force China to allow the value of its currency to rise.The United States argues that China maintains the value of its currency artificially low because a weak currency makes more attractive and cheaper exports throughout the world.Which, in turn, gives the China an unfair advantage in global markets by assisting its economy to the detriment of others.

The dollar took its slide against the other monnaies.Il had rallied in recent days, especially against the euro, as debt crunch renewed concerns Ireland financial system européen.Une Greece financial crisis in the spring of contributed to shoot stock in the world, and investors hope that Ireland right may its own finances without having to seek a bailout of Greece.

Bond prices fell, sending interest rates more élevés.Le performance note reference 10 years of the Treasury Board, which moves opposite its price is passed to 2.78% 2.65% on the previous day.

Intel Corp. was among the winners a few Friday, $1.51 21.53% after the chip maker said it will raise its dividend 15 percent.

Declining shares more than those who acquire five to one in the New York Stock Exchange where came volume consolidated shares of $ 4.2 billion.

? 2010 The Associated rights Press.Tous réservés.Ce hardware cannot be published, broadcast, rewritten or redistributed.

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By Allison Linn, business writer

Many of us now know that this improved live in North Dakota in Nevada during this recession and recovery faible.Mais it is still surprising to see just how much better off the coast of job-seekers were in the cold north in the arid west.

Economic Policy Institute created a map highlighting the percentages of jobs lost in every State from December 2007, when the recession began, and September 2010, the most recent data available.

Nevada has lost 14.2 per cent of jobs during this period, while North Dakota has actually seen a 2.2 percent gain in jobs.

Other States where unemployed people could have a better time to find a job includes the South Dakota, Nebraska, Wyoming, and New Hampshire, who saw the loss of employment of less than 3 percent, according to data from the IPS .Alaska has also added a small number of jobs.

Arizona and Michigan should probably not spots destination for job seekers: both were among the most hard-hit States, lose approximately 10 percent of their jobs since the recession started there are more than three years.

Although the recession officially ended in June 2009, little reported the end of difficult economic times, especially for job-seekers.

While some employers have carefully added jobs during the past months, the national unemployment rate remains painfully high.

Bureau of Labor Statistics said Friday that 151,000 jobs have been added to the national level in October .c ' is an encouraging sign, even if the unemployment rate remained stable at 9.6% and 14.8 million people remain in their work.

State by State for October data have not yet released.

For more detailed status information and to see the map interactive form, click here.

You can also display a map of County here.

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This was the second consecutive year that Liverpool had the highest percentage of households without a job.

The next highest rates of crime were in the valleys of Gwent, 27 6pc and East Ayrshire North Ayrshire Mainland, at 27 6pc.

Figures exceeded the average national, where 18 7pc households had no work, statistics show.

The news comes after ONS data separated last month showed 1.14 m record employees and self-employed worked part-time in the three months to August because they did not find a complete working up to 65 000 for the quarter.Unemployment of youth that is also by 5MC during the same period are found ONS.

According to the International Labour Organization, the number of people looking for a job at the United Kingdom is significantly higher than other European countries.

In contrast, ONS today figures showed that cities the lowest crime rates in 2009 were Bedfordshire, 9 2pc and Surry 10.9pc.Les areas, Scottish Inverness, Nairn, Moray, Badenoch and Strathspey came joint third with 11pc.Plus South Berkshire has 11 2pc household where no one was in labour, followed by Hampshire, with 11 7pc.

The nearest regions the average national were Bristol and South Lanarkshire to 18 6pc, figures show.

ONS figures are based on the households with at least an adult aged 16-64.

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Chevron is currently drilling perspective Lagavulin 160 miles north of the Islands Shetland 1,569 m deeper water - well that BP is broken. Photo: CHRIS WATT

Oil giant u.s. believes that, in a disaster scenario, the North Sea may well release 77 000 barrels per day - 25pc more tied in u.s. waters this year.

Chevron has doubled its worst possible prediction of 35,000 barrels per day, after examining all its data in the light of the accident of BP.

Richard Cohagan, CEO of Chevron UK, said the nature high pressure in the region have led to the estimation of the largest.

"Horizon in deepwater us has given as a new perspective on how bad things could be,", he said. "When we examined the pressure base and seismic has shown that we might be the range of production, we have calculated what could be the greatest rate of discharge.

"We really came with a very high discharge rate in this condition 77 000 barrels - in fact most that BP Macondo.".

Chevron is currently drilling perspective Lagavulin 160 miles north of the Islands Shetland 1,569 m deeper water - well that BP is broken.

Weather recently stopped working on Lagavulin Chevron for eight days.

On the whole of the North Sea, oil companies have been review their operations as a platform in depth overview of the PMO has exploded on 20 April, killing 11 hommes.Cependant oil companies and an expert Commission for safety and health yesterday said members of the Commission on the energy security of the United Kingdom is the best in the world.

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The construction sector has lost more than any other jobs in the recession, according to the figures of the Bacs payroll deductions.

The construction industry has been less resilient to redundancies, controls a number of salaries and wages paid during the three years in August 2010 Bacs 25pc slump, figures montrent.Le transport, storage and communication sector also saw a substantial under 19pc, just drop while making payments dropped almost 15pc over the same period, statistics by the organization behind the direct debit, Bacs has revealed.

Over 90pc of the workforce paid by Bacs, which means that the data illustrate the key trends and reflect the real winners and losers of the financial crisis.

Figures show more resistant of United Kingdom was in mines and quarries sector jobs recession, with a growth of 8pc in payments over three years to August 2010.Le sector health and social work was strong, arriving as it interprets the second best with a growth of 7pc payments, while education is in third place with a growth of 3pc.

Mike Hutchinson, Bacs, Marketing Manager said: "the construction industry has been the real loser, that extractive while experienced the highest increase payroll payments".

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