| | Weekly Roundup AUGUST 03, 2012 MarketWatch top 10 stories, July 30-August 3 By MarketWatch SAN FRANCISCO (MarketWatch) — U.S. stocks pulled out of a nose dive Friday and clipped some trees this week before finishing slightly higher on the week, giving both the Dow Jones Industrial Average and S&P 500 Index their fourth up week in a row.The Dow industrials (DJIA) rose 217.29 points, or 1.7%, to close at 13,096.17, for a weekly gain of 0.2%. The S&P 500 Index (SPX) rose 25.99 points, or 1.9%, to close at 1,390.99, for a weekly gain of 0.4%. The Nasdaq Composite Index (COMP) advanced 58.13 points or 2%, to close at 2,967.90, for a gain of 0.3% on the week.See what's on deck in the coming week with our look-ahead videos: U.S. Week Ahead: Focus Turns Abroad. Europe's Week Ahead: InterContinental Hotels, TUI. Knight trading program snafu makes things dark for stock Knight Capital Group Inc. (KCG) shares took a wild ride this week dropping as low as $2.27 from just over $10 earlier in the week after a faulty trading program went awry on Wednesday and racked up $440 million in losses for the firm. Read more on Knight trading loss. Shares pared losses and rose back into $4 territory after TD Ameritrade Holding Inc. said it would start trading again with Knight and Scottrade said it would route trades to the firm on a limited basis. Read more on Knight shares paring losses. Firms like Vanguard Group Inc. and Fidelity Investments are still not routing orders to Knight. Read more on Vanguard, Fidelity. LinkedIn stands out from the shunned social-media crowd LinkedIn Corp. (LNKD) was the social-media exception this week, compared with Facebook Inc.(FB) , Zynga Inc.(ZNGA) , and Groupon Inc. (GRPN) , in that their shares were up substantially. LinkedIn posted stronger-than-expected revenue and raised its full-year outlook late Thursday. Read more about LinkedIn on MarketWatch. Nonfarm payrolls, service data surprise gooses broader market Nonfarm payrolls for July grew by 163,000 jobs, well above expectations, but that did not shave the unemployment rate, which crept up a tenth of a point to 8.3%. Read more on U.S. payrolls data on MarketWatch. Also, July non-manufacturing activity expanded in July, according to the Institute for Supply Management, slightly ahead of analysts' estimates. Read more on ISM services data on MarketWatch. ECB's Draghi comments this week pale in comparison to last week's European Central Bank President Mario Draghi disappointed investors as remarks this week that governments must ask for help before any ECB action is taken undercut last week's remark that the ECB would do whatever it takes to preserve the euro. Read more on Mario Draghi's comments on MarketWatch. Bernanke surprises with a lack of policy action On Wednesday, the Federal Open Market Committee said that the U.S. economy appeared weaker than earlier estimated but offered no new actions to help stimulate demand. Analysts had expected the Fed to at least push out its pledge to keep interest rates exceptionally low past late 2014. Read more on the FOMC on MarketWatch. Kraft Foods shares benefits from jobs data after earnings Kraft Foods Inc. shares were one of the best performers on the Dow Jones Industrial Average Friday after better-than-expected U.S. nonfarm payrolls data. The blue-chip on Thursday reported that second-quarter earnings rose 5.4%, while revenue fell 4.3%, and said it would spin off its North American groceries business Mondelez International on Oct. 1. Read more on Kraft earnings. Pimco's Bill Gross says 'the cult of equity is dying' Pimco's Bill Gross grabbed headlines this week after he wrote in his monthly newsletter that "the cult of equity is dying." Read a take from MarketWatch's Jonathan Burton on Gross's remarks. Paul Farrell says the real crash is still ahead of us Columnist Paul B. Farrell says the real crash is dead ahead as 2008 is forgotten and floats the prospect that you'll win by buying banks now. Read more on Paul Farrell's crash report on MarketWatch. Spain short-term bond yields fall; Rajoy says no decision on asking for help Spanish Prime Minister Mariano Rajoy on Friday said he has made no decision on whether to ask Europe's rescue fund for help. Read more on Rajoy's comments. Meanwhile, yields on the 2-year Spanish bond fell following comments from the ECB president Draghi that future bond buying efforts would focus on the short end of yield curves. Read more on Spanish bond yields. India suffers world's largest power outage On Tuesday, a massive power outage cut electricity to 600 million people in India, the largest blackout ever. Read more on the India power blackout on MarketWatch. Power was fully restored on Wednesday. Read more on power restoration in India. 
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