| | Weekly Roundup NOVEMBER 02, 2012 MarketWatch's top 10 stories, Oct. 29 - Nov. 2 SAN FRANCISCO (MarketWatch) — Hurricane Sandy took the week by storm indeed, overshadowing pretty much everything else. Some companies postponed earnings reports and press events. Some, like Apple Inc., announced major news in the storm-driven chaos.Apple (AAPL) said Monday that Scott Forstall, the executive who oversaw the creation of iOS — the company's mobile platform — had been let go. The move is the latest by Chief Executive Tim Cook that shows he is charting his own path for Apple, once a secretive black box of a company populated by combative executives with outsize egos, who could only be controlled by a leader with even higher self-regard. Instead Cook, who also has reversed other quirky aspects of Jobs's rule, is pushing Apple to be an outstanding, but still normal company.The Dow Jones Industrial Average (DJIA) fell 139.5 points or 1.1% Friday to close at 13,093.16. For the week, the blue-chip index lost 0.1%. The Nasdaq Composite Index (COMP) fell 37.93 points or 1.3% to close at 2,982.13. For the week, the index was 0.2% lower. The S&P 500 Index (SPX) dropped 13.39 points or 0.9% Friday to close at 1,414.20. The index registered a gain of 0.2% for the week.Stay tuned to MarketWatch over the weekend for all the news you need. We'll have complete coverage of the election and its impact on politics and business. Right now, please take a moment to have a look at our Week Ahead videos: Europe's week ahead: U.S. election will dominate. U.S. week ahead: Election to grab investor attention. Hurricane Sandy, as it happened — Christopher Noble , assistant managing editor.Super storm Sandy, the massive storm system believed to be one of the biggest in U.S. history, slammed onto the U.S. East Coast on Monday evening killing dozens, cutting power to millions and flooding huge swaths of the U.S. Northeast. Widespread damage, power outages linger in Northeast. Political jobs The United States created a better-than-expected 171,000 jobs in October and hiring rose faster in prior months than previously believed, but the politically sensitive unemployment rate rose a tick to 7.9%. Republicans pointed to the rise in unemployment while Democrats cited stronger job gains in the past four months. U.S. adds jobs as hiring picks up. Lump sums Walk into a broker's office with an inheritance or a big chunk of your life savings, and chances are you'll be told it's better commit your dollars to the market a little at a time on a regular schedule. That way there's less to worry about if stocks get hammered the day after you buy. Now mutual-fund giant Vanguard Group is trying to change that. Piling into stocks pays off. Mini launch Apple saw its shares dip Friday as the company launched its latest gadget — the iPad mini — at stores around the world. Friday's decline came despite some bullish projections and comments from analysts, who expect the iPad mini to be a big seller in the coming holiday season. Apple investors tepid on iPad mini launch. Rotten Apple? Analysts have tried to soothe investors that all is well with their beloved Apple, but there are increasing jitters about the changes in the post-Steve Jobs era. The company's shares are now down nearly 15% since they briefly passed the $700 mark in mid-September. Now software executive Scott Forstall has been fired. Is this the start of a permanent decline or a buying opportunity? Long lines, but low cost In the wake of Sandy, which has caused long lines at gasoline stations on the East Coast, it's hard to imagine that the biggest hit to the fuel market will come from a drop in demand, not from a loss of supplies — but it's true. For consumers, that's good news that may translate into a continued seasonal decline in gas prices at pumps nationwide. Price of gasoline falls in Northeast despite superstorm Sandy. Estate-planning Jedi In "The Empire Strike Back," Yoda admonishes Luke Skywalker for spending his life dreaming of the future, "never his mind on where he was … what he was doing." But "Star Wars" creator George Lucas's decision to sell his company to Walt Disney Co. (DIS) was an estate-planning move worthy of a Jedi master. George Lucas's Jedi estate planning. Sandy scams As many Americans recover from Sandy, which left more than 8 million without power and has caused an estimated $50 billion in damages so far, they now face another threat, say consumer advocates: storm-related scams. New danger from Sandy: scams. Housing aftershocks As Sandy moves west, the housing market along the East Coast is already beginning to feel its aftershocks. Flooding, power outages and other infrastructure damage have brought many pending home sales in the Northeast and mid-Atlantic regions to a standstill. Some say sales will likely slump for weeks or months in the areas that have been hit hardest. Sandy may squelch home sales, building. A Republican senate? An attack on financial regulations and a new push to overhaul the U.S. tax code are just two things analysts expect to see next year if Republicans take the Senate in Tuesday's elections. At this point, that's a big "if" — the GOP needs to gain four seats for a majority if President Barack Obama is re-elected, and three if Republican challenger Mitt Romney is chosen. How Republicans would change the Senate. 
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