Youth support drives passage of California tax-hike measure
















SAN FRANCISCO (Reuters) – California‘s 74-year-old governor, Jerry Brown, engineered a surprise victory for his tax-hike ballot proposition by tapping support at the other end of the age spectrum.


Proposition 30, a temporary $ 6 billion tax hike, passed with a solid 54 percent approval on Tuesday, driven largely by a higher-than-expected turnout of young voters, pollsters and analysts say.













The measure, a rare attempt by a state to raise taxes at a time of small-government fervor, was the cornerstone of Brown’s plan to balance the state’s $ 91 billion budget. Without it, the state would have to cut spending on schools and universities.


But in recent days, the proposition had seemed destined for failure, according to several polls. Brown, who began campaigning heavily for it in the last weeks of the election, held rallies at colleges, and many younger voters responded.


“It’s the reversal of a historic trend,” said Dan Schnur, director of the University of Southern California/Los Angeles Times poll, speaking about the normal difficulty of winning support for a tax measure in the waning days of a campaign. At the end of October, his poll showed only 46 percent of voters for the measure.


Young people made up about 28 percent of those who voted on Proposition 30, according to an exit poll from CNN, and 65 percent of them voted yes.


“We saw this amazing engagement that was fed by social media, on Facebook, on Twitter,” said Scott Lay, president of the Community College League of California, an advocacy group.


The ability for the first time to complete the entire voter-registration process online contributed to the passage of the measure, he believes, because “young voters who registered online were more engaged.”


As election day neared, polls from the Public Policy Institute of California, the California Business Roundtable with Pepperdine University, and the respected Field Poll, all showed less-than-majority support for Prop 30, and at best they labeled its chances a toss-up.


But Mark DiCamillo, director of the Field Poll, saw signs Brown could persuade undecided voters and told several reporters ahead of the election that Proposition 30 had a shot.


He cited data in his poll showing that undecided voters shared many characteristics with voters who favored Proposition 30, including a favorable view of Brown, a sense that they were paying about the right amount in taxes, and concern over budget cuts that could kick in if the measure failed.


“If you looked at the 14 percent that were undecided, they held views that were more in line with “Yes” voters,” said DiCamillo. “All it needed was about three points from the undecided.”


Brown’s push in recent days for the initiative undoubtedly helped, including his visits to colleges and his attendance at a group of last-minute events, the pollsters said. On Monday, for example, Brown touted the measure at gatherings in San Diego, Burbank, Fresno, Sacramento and San Francisco.


(Editing by Peter Henderson and Philip Barbara)


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Country duo Civil Wars cancel tour, cite discord
















LONDON (Reuters) – Grammy Award-winning country-folk duo The Civil Wars have cancelled their British tour dates, citing “irreconcilable differences” via Twitter and Facebook.


The pair made the announcement shortly after performing at the Roundhouse in north London late on Tuesday, but they added that they hoped to record together soon.













“We sincerely apologize for the canceling of all of our tour dates,” said the band, which comprises Joy Williams and John Paul White.


“It is something we deeply regret. However, due to internal discord and irreconcilable differences of ambition we are unable to continue as a touring entity at this time … Our sincere hope is to have new music for you in 2013.”


The band said it would “do its best” to reimburse fans who had made travel reservations to see them.


The Civil Wars released their debut studio album “Barton Hollow” last year and went on to scoop two Grammy Awards – the highest prize in music – for best folk album and best country duo/group performance.


(Reporting by Mike Collett-White)


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U.S. soldier in Afghan rampage had no sign of PTSD: superior
















TACOMA, Washington (Reuters) – A U.S. soldier accused of killing 16 Afghan villagers in a rampage earlier this year was an outstanding leader who had difficulty sleeping but no signs of post-traumatic stress disorder, his immediate superior testified on Wednesday.


Military prosecutors are seeking the death penalty for Army Staff Sergeant Robert Bales, accusing him of gunning down the villagers – mostly women and children – when he ventured out of his remote camp on two revenge-fueled forays over a five-hour period in March.













In testimony that could hobble any defense that Bales was seriously impaired on the night in question, First Sergeant Vernon Bigham told a pre-trial hearing that Bales had undergone surgery for sleep apnea but did not complain of PTSD, traumatic brain injury or headaches.


Bigham, Bales’ company supervisor, described the decorated serviceman as a capable sergeant “doing an outstanding job.” He testified via video-link from Afghanistan‘s Kandahar Air Field before a hearing at Joint Base Lewis-McChord in Washington state that will determine whether there is enough evidence to warrant a court martial.


“I was trying to groom him, to help him make the next step,” Bigham said of Bales.


Bales, a veteran of four combat tours in Iraq and Afghanistan, faces 16 counts of premeditated murder and six counts of attempted murder, as well as charges of assault and wrongfully possessing and using steroids and alcohol while deployed.


The shootings in Afghanistan’s Kandahar province marked the worst case of civilian slaughter blamed on an individual U.S. soldier since the Vietnam War and damaged already strained U.S.-Afghan relations.


CHAFING AT RULES OF ENGAGEMENT


Bales’ lead defense attorney, John Henry Browne, has suggested that PTSD or a concussion, combined with steroids and alcohol, may have played a part in the events of March 11.


But Bales’ lawyers have not said directly what their defense will be, and Bigham’s testimony could hurt any effort to portray the soldier as impaired by stress or mental injuries.


Bigham reluctantly told lead prosecutor Lieutenant Colonel Jay Morse that Bales was a “family man” who frequently discussed his children but complained about marital issues.


He had been “very excited” about his latest deployment, Bigham said, acknowledging that Bales preferred aggressive field tactics.


“Was he frustrated with the rules of engagement?” Morse asked. “Uh, yes,” Bigham answered.


Several witnesses on the first two days of the hearing testified that Bales had been upset by the lack of action over an attack on a patrol several days before the shootings in which one soldier had the lower part of a leg blown off by a bomb.


Bigham’s remarks came a day after another soldier’s testimony appeared to cast doubt on the government’s contention – supported by several witnesses on Monday – that Bales, 39, left and entered the compound twice on his own, and acted alone.


Private First Class Derek Guinn testified on Tuesday that he was told by Afghan guards that two U.S. soldiers were seen entering Camp Belambay, where Bales was based, in the early hours of March 11 and one was seen leaving again.


But Guinn, who spoke to the guards through an interpreter, said he personally did not see anyone leaving or entering the camp.


PHOTO EVIDENCE SHOWN


Two U.S. Army Criminal Investigation Command agents, in testimony later on Wednesday, presented photographs that prosecutors suggested tied Bales directly to the murders.


Agent Trayce Lang identified photos of Bales’ blood-splattered camouflage clothing and his tan boots, boxer briefs, a T-shirt, ammunition belts and pants taken from him on the night in question.


“In the pocket was a box of matches,” Lang said. Bales is charged with burning 10 of the bodies.


Lang said she also found blood in the barrel of a 9-millimeter pistol surrendered by Bales after he returned to the base.


Matthew Hoffman, an Army reservist and police detective who supervised the Army’s investigation into the shootings, said his team found bullet casings that matched the pistol and semi-automatic rifle that Bales carried during the shootings.


He identified photos of blood-spattered walls in four mud homes in the villages of Alkozai and Najiban where Bales is accused of killing the 16 victims and wounding six more.


Hoffman said investigators couldn’t get to the crime scenes in the two villages near Camp Belambay for three weeks because of the risk of attack by enraged Afghans.


In the final testimony of the day, Army physician Major Travis Hawks described wounds inflicted on five Afghan civilians who were brought to the Forward Operating Base Zangabad medical facility.


Hawks identified the most seriously injured, a young girl called Zardana, from a photograph showing an exposed head wound with brain matter knotted into her dark hair. Zardana survived the night and was evacuated by two U.S. Army helicopters to a NATO hospital in Kandahar.


One other female and three males were also treated, Hawks said, including a boy, aged about 7, who sustained gory head injuries below his left ear. A male in his 40s sustained a neck wound. Each of the five survived after receiving extensive medical care, Hawks said.


(Writing By Bill Rigby; Editing by Cynthia Johnston, Ciro Scotti and Eric Walsh)


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Walmart moves “Black Friday” earlier on Thanksgiving night
















(Reuters) – Walmart will kick off its holiday sales rush at 8 p.m. on Thanksgiving, its earliest start ever, and will guarantee that those who line up can buy a trio of gadgets as it places a big bet that shoppers are ready to spend this holiday season.


The holiday season is critical for Wal-Mart Stores Inc , the world’s largest retailer, and its Walmart U.S. division. More than a quarter of its annual sales come during the holiday season.













“We bought deep, very deep, and we bought deep on items that matter to our customers,” said Walmart U.S. Chief Merchandising and Marketing Officer Duncan Mac Naughton.


Retailers are coming up with fresh ways to entice shoppers this year, as holiday spending is only expected to rise 4.1 percent, according to the National Retail Federation, down from 5.6 percent growth in 2011.


Walmart kicked off layaway a month earlier than last year, in mid-September. Layaway allows shoppers to keep a product on hold at the store and pay for it over time. Chains such as Walmart and Target have already published toy catalogs.


While the holiday shopping season traditionally kicks off on the day after Thanksgiving, known as Black Friday, the push to sell Christmas presents and other items has been moving earlier and earlier in recent years.


Retailers say that shoppers want earlier deals.


“‘We got customer feedback that says ‘I like to shop earlier so I can go to bed earlier,’” Mac Naughton said.


Thanksgiving will be observed on November 22 this year.


SPECIAL OFFERS


At 8 p.m. local time on Thanksgiving, Walmart‘s offers will include deals on video games starting at $ 10 and home appliances such as a Crock Pot slow cooker and a Mr. Coffee maker for $ 9.44 each.


Walmart also said it would guarantee that three items will be available that night to people standing in line in its stores between 10 p.m. and 11 p.m. on Thanksgiving, though the items are not among the hottest new gadgets of the year.


Those shoppers are guaranteed access to an Apple iPad 2 16GB with Wi-Fi, a March 2011 version, priced at $ 399 with a $ 75 Walmart Gift Card; a 32-inch Emerson 720p LCD TV at $ 148, $ 80 below the usual price; and an LG Blu-ray player for $ 38 that Walmart does not typically sell but said goes for $ 68 to $ 79 elsewhere.


After a round of specials focused on electronics at 10 p.m. Walmart will take a break from special deals, giving shoppers a chance to get some rest or perhaps visit other stores.


Walmart now keeps its stores open overnight between Thanksgiving and Black Friday after an employee was trampled to death when a Long Island store opened on Black Friday in 2008.


Last year, key competitors including Target Corp began their special offers at 12 a.m. on Friday.


Other items to be offered during the night include brands such as Vizio, Samsung, Nikon, Nook and Beats by Dr. Dre.


“I think we have the brands that our customers want,” Mac Naughton said.


A variety of items from Goodyear tires to a Singer Sewing Machine go on sale at 5 a.m. on Black Friday.


Last year, Target, Best Buy , Macy’s and Kohl’s were closed on Thanksgiving and kicked off Black Friday sales at the stroke of midnight, their earliest starts ever. Best Buy Co Inc , Macy’s and Kohl’s all plan to open at midnight again, while Target has not given its plans yet.


Sears Holdings Corp’s Sears and Kmart stores will be open on Thanksgiving Day. Last year, Sears kept its discount chain Kmart open on Thanksgiving but the Sears chain was closed.


This year, Sears stores will open at 8 p.m. on Thanksgiving Day and stay open overnight until 10 p.m. on Black Friday. Kmart has been open on Thanksgiving for the last 21 years.


In 2011, Walmart began with deals on toys, home items and clothing at 10 p.m. on Thanksgiving, followed by electronics deals at midnight and other offers at 8 a.m. on Friday, November 25.


Most Walmart stores will be open on Thanksgiving, unless they are required to close by local or state law.


Walmart has faced protests in various U.S. cities lately and some workers have planned to walk off the job on Black Friday. Such actions are being sponsored by groups including a contingent of workers called OUR Walmart that receives union support.


(Reporting by Jessica Wohl in Chicago; Editing by Tim Dobbyn)


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Officials: New mass graves found in Ivory Coast
















ABIDJAN, Ivory Coast (AP) — Up to 10 new mass graves have been discovered near the site of a July attack on a camp for displaced people, officials said Tuesday, amid allegations that initial casualty totals were downplayed to mask killings carried out by the national army.


Rights groups claim summary executions were carried out by the Republican Forces of Ivory Coast, known by its French acronym of FRCI. Last month, officials found six bodies in a well close to the former campsite in the western town of Duekoue.













Government, army and U.N. officials toured 10 more graves in the same area on Saturday, said Paul Mondouho, vice-mayor of Duekoue. He said the graves had first been identified by civilians, and that officials did not know the number of bodies they contained because they had not yet been properly exhumed.


“People were suspecting the presence of bodies in these graves because of the smell coming out of them and because of the shoes we saw nearby,” Mondouho said.


Prosecutor Noel Dje Enrike Yahau, who is based in the commercial capital of Abidjan, confirmed that multiple new graves had been discovered but could not provide details. U.N. officials and the local prosecutor in charge of investigating the suspected killings could not be reached Tuesday.


U.N. spokeswoman Sylvie van den Wildenberg confirmed that U.N. forces helped Ivorian authorities secure a perimeter around 10 wells “similar to the one in which six bodies were found,” and that “some of those wells are suspected mass graves.”


She stressed that Ivorian authorities were leading the investigation but that the U.N. was able to provide assistance.


Army spokesmen could not be reached Tuesday. The Justice Ministry has previously vowed to investigate the discovery of the initial grave.


On the morning of July 20, a mob descended on the U.N.-guarded Nahibly camp, which housed 4,500 people displaced by violence in Ivory Coast, burning most of the camp to the ground. Officials said at the time that six people were killed.


The attack was prompted by the shooting deaths of four men and one woman on the night of July 19, according to local officials and residents. In response a mob of some 300 people overran the camp on the morning of July 20 after the perpetrators of the shootings reportedly fled there.


The victims in the July 19 attack lived in a district dominated by the Malinke ethnic group, which largely supported President Alassane Ouattara in the disputed November 2010 election. The camp primarily housed members of the Guere ethnic group, which largely supported former President Laurent Gbagbo.


Gbagbo’s refusal to cede office despite losing the election to Ouattara sparked months of violence that claimed at least 3,000 lives.


Albert Koenders, the top U.N. envoy to Ivory Coast, said one week after the attack that U.N. security forces had been inside and outside the camp at the time but that no Ivorian security forces were present. He said the U.N. forces decided not to fire at a large group of people that were attacking the camp in order to avoid “a massacre.”


Several witnesses have said soldiers and traditional hunters, known as dozos, participated in the attack on the camp. Both military and dozo leaders have denied the claims, saying they had tried to protect the camp.


In a statement released Friday, the International Federation for Human Rights, known by its French acronym of FIDH, said it had information — including the preliminary results of autopsies — confirming that the six bodies found in October were men who had been summarily executed by the army.


“The disappearance of dozens of displaced persons after the attack, as well as confirmation of cases of summary and extra-judicial executions, suggest a much higher victim rate than the official figures report,” said the organization, which counts Ivorian civil society groups among its members.


Duekoue was one of the hardest-hit towns during the post-election violence. The U.N. has established that at least 505 people were killed in and around the town, including during a notorious March 2011 massacre that claimed hundreds of lives and was allegedly carried out by fighters loyal to Ouattara.


Duekoue residents belonging to ethnic groups that supported Gbagbo have long complained about abuses carried out by the FRCI, with some pointing to the direct involvement of the local commander, Kone Daouda. FIDH said in its statement that Daouda had been transferred following the discovery of the grave in October, and called for him to be interrogated over the matter.


The group also said two FRCI members were being “actively sought” after failing to return to their barracks on Oct. 16, noting that they are believed to have fled to neighboring Burkina Faso.


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Officials: New mass graves found in Ivory Coast
















ABIDJAN, Ivory Coast (AP) — Up to 10 new mass graves have been discovered near the site of a July attack on a camp for displaced people, officials said Tuesday, amid allegations that initial casualty totals were downplayed to mask killings carried out by the national army.


Rights groups claim summary executions were carried out by the Republican Forces of Ivory Coast, known by its French acronym of FRCI. Last month, officials found six bodies in a well close to the former campsite in the western town of Duekoue.













Government, army and U.N. officials toured 10 more graves in the same area on Saturday, said Paul Mondouho, vice-mayor of Duekoue. He said the graves had first been identified by civilians, and that officials did not know the number of bodies they contained because they had not yet been properly exhumed.


“People were suspecting the presence of bodies in these graves because of the smell coming out of them and because of the shoes we saw nearby,” Mondouho said.


Prosecutor Noel Dje Enrike Yahau, who is based in the commercial capital of Abidjan, confirmed that multiple new graves had been discovered but could not provide details. U.N. officials and the local prosecutor in charge of investigating the suspected killings could not be reached Tuesday.


U.N. spokeswoman Sylvie van den Wildenberg confirmed that U.N. forces helped Ivorian authorities secure a perimeter around 10 wells “similar to the one in which six bodies were found,” and that “some of those wells are suspected mass graves.”


She stressed that Ivorian authorities were leading the investigation but that the U.N. was able to provide assistance.


Army spokesmen could not be reached Tuesday. The Justice Ministry has previously vowed to investigate the discovery of the initial grave.


On the morning of July 20, a mob descended on the U.N.-guarded Nahibly camp, which housed 4,500 people displaced by violence in Ivory Coast, burning most of the camp to the ground. Officials said at the time that six people were killed.


The attack was prompted by the shooting deaths of four men and one woman on the night of July 19, according to local officials and residents. In response a mob of some 300 people overran the camp on the morning of July 20 after the perpetrators of the shootings reportedly fled there.


The victims in the July 19 attack lived in a district dominated by the Malinke ethnic group, which largely supported President Alassane Ouattara in the disputed November 2010 election. The camp primarily housed members of the Guere ethnic group, which largely supported former President Laurent Gbagbo.


Gbagbo’s refusal to cede office despite losing the election to Ouattara sparked months of violence that claimed at least 3,000 lives.


Albert Koenders, the top U.N. envoy to Ivory Coast, said one week after the attack that U.N. security forces had been inside and outside the camp at the time but that no Ivorian security forces were present. He said the U.N. forces decided not to fire at a large group of people that were attacking the camp in order to avoid “a massacre.”


Several witnesses have said soldiers and traditional hunters, known as dozos, participated in the attack on the camp. Both military and dozo leaders have denied the claims, saying they had tried to protect the camp.


In a statement released Friday, the International Federation for Human Rights, known by its French acronym of FIDH, said it had information — including the preliminary results of autopsies — confirming that the six bodies found in October were men who had been summarily executed by the army.


“The disappearance of dozens of displaced persons after the attack, as well as confirmation of cases of summary and extra-judicial executions, suggest a much higher victim rate than the official figures report,” said the organization, which counts Ivorian civil society groups among its members.


Duekoue was one of the hardest-hit towns during the post-election violence. The U.N. has established that at least 505 people were killed in and around the town, including during a notorious March 2011 massacre that claimed hundreds of lives and was allegedly carried out by fighters loyal to Ouattara.


Duekoue residents belonging to ethnic groups that supported Gbagbo have long complained about abuses carried out by the FRCI, with some pointing to the direct involvement of the local commander, Kone Daouda. FIDH said in its statement that Daouda had been transferred following the discovery of the grave in October, and called for him to be interrogated over the matter.


The group also said two FRCI members were being “actively sought” after failing to return to their barracks on Oct. 16, noting that they are believed to have fled to neighboring Burkina Faso.


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AT&T’s Nokia Windows phone prices to undercut rivals
















SAN FRANCISCO (Reuters) – AT&T set a $ 50 starting price for Nokia‘s latest Windows smartphones, on which the struggling Finnish phone maker is pinning its hopes for a turnaround.


The No. 2 U.S. mobile provider said on Tuesday that it will sell the Nokia Lumia 820 for $ 49.99 and the flagship Lumia 920 phone for $ 99.99 compared with its $ 199.99 pricing for the HTC Corp Windows Phone 8X device.













Nokia, which has lost out hugely to Apple Inc and Samsung Electronics Co in recent years, is hinging its entire future on Microsoft‘s mobile software. HTC mostly sells phones based on Google Inc’s Android software but is hoping to diversify with Windows Phone 8.


The three devices are key for Microsoft which is banking on its Windows Phone 8 software to challenge Apple’s iPhone and Android phones from vendors like Samsung.


The low Nokia price shows that volumes are more important to the company than profits as it is hoping to re-build a U.S. customer base, Current Analysis analyst Avi Greengart said.


And with such aggressive pricing, the only reason these phones could fail to sell well is if consumers decide they are not interested in the Microsoft software, Greengart said.


“It’s almost a referendum on Microsoft’s operating system,” said the analyst.


AT&T is also offering a free wireless charging plate with the purchase of the Lumia 920, which is worth about $ 80 according to an estimate from Greengart, who used previous wireless chargers as a benchmark.


“This is a valuable accessory that AT&T and Nokia are throwing in the box for free,” Greengart said. “I would think this will make it more difficult for HTC because they have a product with a smaller display and less unique features.”


The prices are for customers who sign a two-year wireless contract with AT&T. The phones, which are available beginning November 9, can be pre-ordered starting Wednesday.


(Reporting by Poornima Gupta; Additional reporting by Sinead Carew in New York; Editing by James Dalgleish)


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The Civil Wars cancel tour using divorce language
















NASHVILLE, Tenn. (AP) — Grammy-winning duo The Civil Wars have canceled their upcoming tour dates, citing irreconcilable differences.


The folk-pop duo Joy Williams and John Paul White released a statement Tuesday announcing that because of “internal discord and irreconcilable differences of ambition” they were unable to “continue as a touring entity at this time.”













Although they used the language of divorce, the duo added, “Our sincere hope is to have new music for you in 2013.”


Williams and White are both married, but to other people. Williams had a baby this summer with husband Nate Yetton, the duo’s manager.


Earlier this year the pair canceled part of their European tour.


The duo found unexpected success with their 2011 debut album, “Barton Hollow.” With backgrounds in gospel and rock, they met when they were both asked to contribute to a country project and found chemistry.


Back then, the pair framed their partnership in terms of courting. White told The Associated Press that after two songwriting sessions, “I finally got up the nerve to ask her out, as it were.”


“In a musical way,” Williams said.


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Visible aging signs may predict heart disease
















LOS ANGELES (Reuters) – Common visible signs of aging may not just be a vanity or employment problem. They may also be a harbinger of heart disease.


In a large, long-term study, people who displayed three to four signs of aging, such as receding hairlines at the temples, baldness at the crown of the hear, earlobe creases or yellow fatty deposits around the eyelids had a 57 percent increased risk of heart attack and a 39 percent increased risk of developing heart disease, Danish researchers found.













Fatty cholesterol deposits around the eyes, a condition known as xanthelasmata, was the strongest individual predictor of both heart attack and heart disease, according to data presented on Tuesday at the American Heart Association scientific meeting in Los Angeles. There was a 35 percent increase in heart attacks among subjects with the condition, researchers found.


“The visible signs of aging reflect physiologic or biologic age and are independent of chronologic age,” said Dr. Anne Tybjaerg-Hansen, lead investigator of the Copenhagen Heart Study and a professor of clinical biochemistry at the University of Copenhagen.


Researchers were able to rule out gray hair and wrinkles as predictors of heart disease. Tybjaerg-Hansen, a youthful looking 60-year-old, said those factors appear to reflect chronological age rather than health issues.


Beginning in 1976, researchers analyzed nearly 11,000 subjects 40 years of age and older for a variety of common aging signs. Of them, 7,537 had receding hairlines at the temples, 3,938 had baldness at the crown of the head, 3,405 had earlobe crease and 678 sported fatty deposits around the eye.


In 35 years of follow-up through May of 2011, 3,401 of those subjects developed heart disease and 1,708 suffered a heart attack, researchers found.


The aging signs predicted risk of heart attack and heart disease independent of traditional risk factors, such as high cholesterol, high blood pressure and smoking, researchers said.


The risk increased with each additional sign of aging in all age groups among men and women, with the highest risk found among those who had three or four of the problematic signs.


“Checking these visible signs of aging should be a routine part of every doctor’s physical examination,” Tybjaerg-Hansen said.


Tybjaerg-Hansen, who got involved in the Copenhagen study in the late 80s, said lifestyle changes and more intensive lipid-lowering therapy should be considered for patients who look older than their age.


One limitation of the study was that it followed an all white population, so the results cannot necessarily be applied to other races and ethnic groups without further study, she said.


(Reporting by Bill Berkrot; Editing by Tim Dobbyn)


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Futures off lows as election called for Obama
















NEW YORK (Reuters) – Stock index futures fell late on Tuesday, but were off session lows, as major TV networks called the U.S. presidential election for Democratic incumbent Barack Obama over challenger Mitt Romney.


S&P 500 futures fell 6.7 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures lost 50 points and Nasdaq 100 futures fell 8.75 points.













S&P futures earlier fell as much as 14 points.


Cash markets posted strong gains earlier despite a string of weaker-than expected results from U.S. companies, with notable strength in stocks and sectors that were seen favorable under a Romney win, including coal, energy and defense shares.


“The first reaction is a giveback of today’s movement, but the fact that we’ll have a decision is as important as anything,” said Art Hogan, managing director at Lazard Capital Markets in New York.


He said the most important market catalyst now is the speed at which Washington deals with the so-called fiscal cliff, some $ 600 billion in spending cuts and tax increases that are due to kick in next year and could derail the U.S. economic recovery.


The vote including congressional races points to a status quo result, Democrats retaining control of the Senate and the House of Representatives staying in Republican hands.


(Reporting by Rodrigo Campos; Editing by Leslie Gevirtz)


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