| | Weekly Roundup NOVEMBER 09, 2012 MarketWatch's top 10 stories, Nov. 5 - 9 By MarketWatch SAN FRANCISCO (MarketWatch) — It's easy to choose the big story of the week, right? Well, if you're a Californian, maybe not.On Tuesday, the nation voted to give President Barack Obama a second term, deciding that he was a more credible steward of the nation's future than Mitt Romney. California voted overwhelmingly for Obama, which was no surprise. What was a surprise, and is considered by some observers to be as big a deal, is that California voted to raise taxes by $6 billion a year for the next few years to stave off billions of dollars of cuts to the state's once-great public education system.Yes, California, which in 1978 started the nation's anti-tax revolt with Proposition 13, has voted to raise taxes. It's interesting to consider whether Prop. 30 will one day be seen as the start of a new, national tax-related trend whose driving mindset is that some essential services are worth protecting, even if we have to pay higher taxes to do it.The Dow Jones Industrial Average (DJIA) rose 4.1 points on Friday to close at 12,815.39 a negligible gain. For the week the index lost 2.1%. The Nasdaq Composite Index (COMP) climbed 9.3 points or 0.3% for the day to close at 2,904.87. The technology heavy index lost 2.6% for the week. The benchmark Standard & Poor's 500 Index (SPX) rose 2.3 points or 0.2% on Friday to close at 1,379.85. For the week the index fell 2.4%.Stay tuned to MarketWatch over the weekend. We'll have all the news you need to organize your portfolio and your life.Please take a moment to watch our week ahead videos. U.S. week ahead: Lingering earnings, retail sales Europe's week ahead: Greece, U.K. top the bill — Christopher Noble, assistant managing editor.Back to work Fresh off a grueling re-election victory, President Barack Obama will have to pivot quickly to resolve a fast-approaching budget crisis that could tilt the economy back into recession. He'll have to do so by working across party lines with a divided Congress that has shown little appetite for compromise. Obama victory sets up the next battle. Love at first trade The stock market loves President Barack Obama. Equities benchmarks have risen more under Obama than during the first terms of Ronald Reagan, George W. Bush or Bill Clinton. And chances are that the industries that did well in Obama's first term will keep on rolling in his second. Where to put your money now that Obama has won. Four horsemen Whether you exhaled or gasped over the presidential election result, there's no denying what comes next: A fiscal slugfest that will play out against a vulnerable U.S. economic recovery and Europe's own debt mop-up. If you believe the so-called fiscal cliff threatens the growth-stock strategies favored during the election run-up, it may be time for a little insurance. Markets eye the 4 horsemen of Obama's second term .Gold thoughts Before the election results, investors bid up the gold price by nearly $32 an ounce on assumptions that the Federal Reserve will continue its policy of monetary easing during the president's second term. With the election over investors can focus on other issues such as the fiscal cliff. What Obama's election means for gold. The weaker case for Apple The recent path of Apple Inc.'s (AAPL) shares have put the stock into a territory that many on Wall Street might refer to as a "screaming buy," but the company's broad fan base of brokers face some limits as to what else they can do besides keep telling their client to buy the stock. Apple's Wall Street supporters have few options. Capsized deals? For nearly a decade, cost-conscious travelers have gone to Kayak.com seeking unbiased advice on where to find the best deals on airfare, hotels and car rentals. With news that online booking site Priceline.com has acquired Kayak, can these bargain-seekers expect the same sort of impartial information? Will Priceline capsize deals for Kayak customers? A need to prove itself With the company's stock trading at 20% of its value a year ago, Groupon's (GRPN) investors may be hard-pressed to grant the company much hope in its new business ventures — despite the optimism of Chief Executive Officer Andrew Mason. Groupon investors likely to remain wary. Tax hit? In addition to the tragedy of lost lives and injuries, Superstorm Sandy caused many billions of dollars in property damage. The sad truth: disasters occur every year in America. If you're unlucky enough to suffer a disaster-related casualty, here's what you need to know about the federal income tax implications. A possible tax hit for Sandy's victim's. Trains, planes and cars If you're jumping on a plane for the Thanksgiving holiday, brace yourself for crowded flights, traffic jams and gnarly weather across much of the country. Here are some tips from experts on how to make holiday travel a bit less painful. How to survive a brutal Thanksgiving travel season. No rest Robert Powell writes that it's time for President Barack Obama to tackle this nation's retirement security issues, including Social Security, Medicare, and a host of other challenges that threaten the financial well-being and standard of living of current and future retirees. Here's the shortlist. The 4 retirement problems Obama must solve. 
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