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Friday, October 5, 2012

Weekly Roundup: MarketWatch's top 10 stories, Oct. 1 - 4

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MarketWatch
Weekly Roundup
OCTOBER 05, 2012

MarketWatch's top 10 stories, Oct. 1 - 4

By MarketWatch

Weekly Roundup
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SAN FRANCISCO (MarketWatch) — Trying to pin the origin of unhelpful partisanship on Republicans or Democrats is a classic chicken-or-egg proposition. So it almost seems pointless to call out former General Electric CEO Jack Welch for his comments that accused the White House of manipulating the unemployment numbers that were released earlier today.

He's not the first to make the suggestion that the party in power manipulates economic data and in fact he wasn't the only one to do so today. The team at CNBC, to name just one group, had a field day trading accusations about the validity of the numbers. Social media blazed with debate.

It's hardly remarkable anymore. The whole episode is just the latest example of how aspects of our society the country used to take for granted are up for opinionated grabs. In many cases, this is a good thing.

But in this case, some caution seems in order. It appears to show that partisanship has so captured the modern American political experience that even a building block of our democracy as essential as a belief in the good faith of the civil service is fair game when it comes to getting your man elected.

The Dow Jones Industrial Average (DJIA) rose 34.8 points or 0.3% on Friday to close at 13,610.15. For the week, the blue-chip index rose 1.3%. The Nasdaq Composite Index (COMP) finished the day with a loss, dropping 13.27 points or 0.4% to close at 3,136.19. For the week the index was up 0.6%. The benchmark Standard & Poor's 500 Index (SPX) edged down 0.47 point to close at 1,460.93, a negligible decline in percentage terms. For the week the index gained 1.4%.

Click through to MarketWatch over the weekend for complete coverage of all the news you need to manage your portfolio. MarketWatch is the place to be as you prepare for the coming week of financial and economic news. Meanwhile, take a moment to view our week ahead videos.

 U.S. week ahead: Alcoa, JP Morgan kick off earnings

 Europe's week ahead: Spain, Greece and Burberry

— Christopher Noble , assistant managing editor

Jobs reset

The United States created 114,000 new jobs in September and the unemployment rate fell to 7.8%, the first time it has been under 8% since President Barack Obama took office. The report has the potential to change the conversation in the presidential election. This is the jobs report that Obama's been waiting for .

Romney 1, Obama 0

In the first of three presidential debates, President Barack Obama and Republican candidate Mitt Romney squared off on taxes, deficits and government entitlement programs. Romney's appeal to the middle class appeared to find resonance with observers, most of whom said he came out on top in the debate. Team Obama is re-evaluating its debate strategy .

Stormy weather

The fourth quarter is shaping up as a much stormier period than the summer calm that has enveloped markets and investors for the last three months. Big year-to-date gains in the markets haven't been enough to set up the markets for an optimistic outlook over the end of the year. Bracing for the worst earnings since the recession rebound .

Heading lower

It didn't take much to push oil up past $100 a barrel last month, and now with most of the factors influencing the market tipping the scales in favor of a decline, it looks like oil has a better chance of hitting $80 a barrel before it goes back up to $100. Oil has a better chance at $80 than $100 .

Voter portfolio

Like a swing state before an election, the market's map isn't always clearly marked in red or blue. There are some tech stocks, for example, that would likely thrive under Democrat Obama, while others' fortunes could rise under Republican Romney. Or a business that found its legs with government aid might need free-market policies to grow, while another company would be fine regardless of who's in office. 5 Obama, 5 Romney stocks for voters' portfolio .

Core meltdown

The meltdown at Hewlett-Packard's (HPQ) services business is been deeper and tougher to reverse than most expected. It's a major reason the tech giant's turnaround plan has been stretched into at least the next two fiscal years. Why H-P should be split apart .

Apple after Steve Jobs

One year after the death of Steve Jobs, Apple (AAPL)  — the company he co-founded and let for most of his adult life — appears to be thriving and lacking any serious obstacles to it's breakneck growth in a rapidly changing technology market. But the company does face some big questions under its new CEO. Has Apple suffered without Steve Jobs?

Supreme sale

The Supreme Court has a case pending you may not have heard of, but it could upend your ability to resell everything from your grandmother's antique furniture to you iPhone 4. It's all about the first-sale doctrine in copyright law. Your right to resell your own stuff if in peril .

No laughing matter

A Spanish minister drew laughter when he said his country would not need a financial bailout to solve its debt crisis. But for investors around the world, the growing risks posed by Spain's reluctance to ask for help are no laughing matter. Why Spain rescue delay should worry U.S. investors .

Serious games

A shift in game-playing habits on Facebook (FB) has left Zynga Inc. (ZNGA) in a pinch, as the social game maker struggles with the slowdown of a popular format it helped to pioneer. Zynga in a pinch as Facebook gaming shifts. Zynga in a pinch as Facebook gaming shifts .

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