| | Weekly Roundup NOVEMBER 16, 2012 MarketWatch's top 10 stories, Nov. 12 - 16 By MarketWatch SAN FRANCISCO — For a few weeks before the election, things looked OK on the global economic front. Most manufacturing surveys showed some gains, and other economic data painted a picture of moderate, but noticeable growth in many parts of the globe.But since the re-election of President Barack Obama, that picture seems to have dissolved like a mirage on a highway in the summer. Stocks are weakening, signs are that global growth is bumpy and the crises that plagued the world economy over the summer — the euro zone debt crisis and questions about China's growth, — are rearing their heads again. Add to that concerns about the fiscal cliff, or the fiscal slope, or whatever its name should be, and that's a recipe for more uncertainty if not actual declines.The Dow Jones Industrial Average (DJIA) added 45.93 points or 0.4% to close at 12,588.31 on Friday, but still ended the week with a 1.8% loss. The Standard & Poor's 500 Index (SPX) finished the day with a gain of 6.55 points or 0.5% to close at 1,359.88. For the week the benchmark index lost 1.5%. The Nasdaq Composite Index (COMP) rose 16.19 points or 0.6% to finish at 2,853.13 on Friday but lost 1.8% on the week.Check in to MarketWatch over the weekend for all the news you need to organize your portfolio and your life. We'll have full coverage of any developments on the fiscal cliff negotiations and preparations by stores for the coming Black Friday shopping day. MarketWatch has just launched a new section on retirement, where you'll find all the news, data and advice you need to plan for your post-work years. Visit Marketwatch's retirement section now. Also, please have a look at MarketWatch's videos giving a preview of what's ahead next week. U.S. week ahead: Watching for the fiscal cliff. Europe's week ahead: Middle East, fiscal cliff talks to dominate. — Christopher Noble , assistant managing editor.Constructive start Top congressional Democrats and Republicans said Friday they had a constructive meeting with President Barack Obama aimed at averting the fiscal cliff of tax hikes and spending cuts set to kick in at the beginning of the year. Leaders call fiscal cliff talks constructive. Cost of the cliff By now, you've probably heard of the high-stakes budget standoff that Republicans and Democrats have to resolve by year-end. If they fail, an automatic $500 billion tax hike will kick in that will affect nearly all Americans in some way. But what's the view from the bottom of the fiscal cliff? And how much would it cost you? What a fiscal cliff plunge would cost you. Cliff hogwash You've seen the scary headlines warning of an economic disaster heading our way. You've heard the overheated rhetoric, and seen fiscal countdown clocks. It's hogwash. Nothing much will happen to the economy on Jan. 1 or Jan. 2 or Jan. 3, despite the expiration of tax cuts and the automatic reductions in federal spending. Stop calling it a fiscal cliff. Retirement cliff One of the biggest risks that retirees and pre-retirees face is that tax policy will change and throw a big wrench into their plans. Well, that risk — in the form of the fiscal cliff — is now upon us and retirees and pre-retirees must now develop a plan of action for their portfolio. Retiring on the edge of the fiscal cliff. High yield, lower appeal Investors are shifting toward investment-grade bonds and out of high-yield bonds as the year comes to a close and as falling yields are weighing on the appeal of reaching toward the riskiest form of U.S. debt. Investors move out of junk to higher-grade debt. Too high A company that creates medical-marijuana dispensing machines says its stock is getting way too high. Medbox (MDBX) shares surged 3,000% this week — from roughly $4 Monday to $215 Thursday — before falling to $100 after executives sought to dampen investor enthusiasm. Marijuana dispenser stock gets too high. Twinkie blues Those looking to stockpile cases of Twinkies may have to act quickly. Just hours after Hostess Brands closed its business Friday, legions of junk-food addicts began cleaning out supermarket shelves and online retailers. How to stockpile Twinkies. No sure thing If the U.S. becomes the world's largest oil producer within the next decade, the energy market landscape will undergo some radical changes that may ultimately succeed in easing some of the volatility it's been known for — but the nation will still rely heavily on imports. U.S. oil independence isn't a sure thing. Money bags, not sand bags U.S. stocks have lost 4% so far this month. Fretful investors are selling winners to position their portfolios against tax changes the White House and Congress may make on capital gains and dividend income to avoid the so-called fiscal cliff. Against this uncertain backdrop, it's useful to look for companies that have fortified their balance sheets. Eight companies you didn't know had so much money. Puzzle The missing piece of the economic puzzle, the one thing that has made this recovery so much weaker than previous ones, may finally be falling into place: The housing market appears to be in a sustained recovery from what can only be called a depression. Housing's comeback looks real. 
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