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Friday, March 22, 2013

Weekly Roundup: MarketWatch's top 10 stories, March 18 - 22

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MarketWatch
Weekly Roundup
MARCH 22, 2013

MarketWatch's top 10 stories, March 18 - 22

By MarketWatch

Weekly Roundup
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SAN FRANCISCO (MarketWatch) — Cyprus. Yes, in this latest episode of startlingly bad euro-zone management, the tiny island of Cyprus has become the most important place in the world for financial markets.

Even by the standards of the grinding European debt crisis, this episode strains credulity. The tiny island nation's financial woes have held the world in thrall this week and the dramatic back and forth between the Cypriot government and the European authorities seemed eerily familiar to previous episodes involving Spain, Italy and Portugal.

So will the euro zone every learn? Hard to tell, but it won't be at all surprising if one day in the not-too-distant future we're all breathlessly glued to our Twitter feeds waiting for words of wisdom from the central banker of some other country we only dimly remember is even part of the single currency.

The Dow Jones Industrial Average (DJIA) rose 90.54 points or 0.6% on Friday to close at 14,512.03. For the week, the index edged a fraction lower. The Nasdaq Composite Index (COMP) climbed 22.40 points or 0.7% on Friday, to close at 3,245.00, but lost 0.1% for the week. Meanwhile the broader, benchmark Standard & Poor's 500 Index (SPX) rose 11.09 points or 0.7% on Friday to close at 1,556.89. The index lost 0.2% for the week.

Meanwhile, please visit MarketWatch over the weekend for all the news you need to organize your portfolio, your retirement and the rest of your life. We'll have continuing coverage of the Cyprus situation, and the highlights of March Madness, too.

Please take a moment to watch our Week Ahead videos, too.

 U.S. Week Ahead: Cyprus in spotlight

 Europe's Week Ahead: Cyprus still dominates

Christopher Noble , assistant managing editor.

If Cyprus can't make a deal

A Monday deadline looms for Cyprus. If the country can't make a deal with its creditors by then, it will default on its debts and that would trigger a number of disastrous financial events. The European Central Bank would cut off assistance to the Cypriot banks and the country might be forced to abolish the euro. What will actually happen if Cyprus deal fails.

Transparency revisited

The great, see-through pant controversy of 2013 embroiled yoga clothing maker Lululemon Athletica (LULU) this week after the company said it was recalling some of its most popular stretchy pants because of excessive "sheerness." Put the pants on and bend over.

Paging Dr. Copper

Dr. Copper, as the industrial metal is known to investors, might be offering the wrong economic prognosis. After all, a physician's handwriting can be tough to read, and so is that of copper, whose "doctor" title refers to it as an indicator for economic trends and equity markets. Here's why copper has lost its indicator role.

BlackBerry's last stand

The next week will be a crucial one for BlackBerry Inc. (BBRY) , as the smartphone maker begins selling its new Z10 handset in the U.S. and readies for its first earnings report since the launch of a new platform meant to revive its business. BlackBerry Z10 hits U.S. ahead of key report.

Dell vs. Hurd, version 2.0

They faced off as chief executives of the two main competitors in the personal computer market. Now, Michael Dell and Mark Hurd could end up in another showdown, this time over who should lead Dell Inc. (DELL). Dell may face Mark Hurd as the deal deadline looms.

Bernanke stays the course

Federal Reserve Chairman Ben Bernanke said the labor market is healing but that the central bank will keep its aggressive easing stance until it's clear the gains are durable. Bernanke still unconvinced of job-market healing.

Shareholder activism

Five members of Hewlett-Packard Co.'s (HPQ) board of directors survived a re-election challenge, though some drew a substantial number of "no" votes — including Chairman Ray Lane. H-P directors survive re-election challenge.

Profit growth worries

Investors got a double-whammy from FedEx (FDX) and Caterpillar (CAT), underscoring why profit growth expectations for S&P 500 companies have been coming down ahead of April's parade of first-quarter earnings reports. FedEx, Caterpillar reports raise red flags.

Not confident

Many think it's impossible to avoid a retirement crisis in this country, especially in the wake of a report this week that shows Americans aren't very confident about their prospects for having a comfortable retirement. But in an interview, Matt Greenwald outlines what it will take to avoid a retirement crisis. 3 ways to solve the retirement crisis in the U.S.

A new kind of drugstore

Drugstores are changing. They're providing more services and changing the way they deliver them. From managing prescriptions to providing physicals, pharmacists are playing a larger role in taking care of the sick. Meanwhile the stores are stocking a wider array of products and foods. Walgreens sushi anyone? 10 things your drugstore won't say.

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