Scotland Yard Official, April Casburn, Sentenced to Jail in Murdoch Hacking Scandal





LONDON — A senior police officer in Scotland Yard’s counterterrorism command, Detective Chief Inspector April Casburn, was sentenced to a 15-month prison term on Friday for seeking cash payments from Rupert Murdoch’s News of the World tabloid in return for information about a Scotland Yard investigation into phone hacking at the paper.




A unanimous jury verdict after a four-day trial earlier this month made Ms. Casburn, 53, the first person to be convicted of a criminal offense in the phone hacking scandal that has enveloped Mr. Murdoch’s newspaper domain in Britain over the last 30 months. The judge told Ms. Casburn that she would have drawn a three-year term if she were not in the process of adopting a child.


At the trial, the jury was told that evidence implicating Ms. Casburn was provided to Scotland Yard by an internal investigative unit established by Mr. Murdoch’s News Corporation, known as the management and standards committee, which was started as part of Mr. Murdoch’s pledge in 2011 that his company would give the police any incriminating information that it came across as it trawled through millions of e-mails and other documents relating to the hacking scandal.


Ms. Casburn, who was impassive as the judge pronounced sentence, had told the court that she had telephoned The News of the World because she was angry that her superiors had decided to divert money and resources from counterterrorism operations to the phone hacking scandal and thought that she was acting in the public interest.


At the time, Detective Casburn, who had previously worked in the world of private finance, was head of the counterterrorism unit’s financial investigative team, tracking the financing of terrorist operations. She told the court that as a woman working with a closely knit group of men, she often felt isolated and excluded and that her feelings on that score had contributed to what she described as a “mad” and deeply regrettable action in calling the tabloid.


Crucially, she denied asking for any payment from the newspaper — a pivotal issue in the case after the jury was told that the News of the World reporter who took the call wrote an e-mail to his editors immediately after the conversation saying that the officer had asked to be paid for confidential information about police plans to revive an investigation into phone hacking that had been halted three years earlier. The e-mail said that Ms. Casburn had named several individuals who were a target of the police inquiry.


But the judge, Sir Adrian Fulford, said that Ms. Casburn’s actions could not be described as “whistle-blowing.” He noted that the jury had rejected her claim that she had not sought payment and described her actions as “a corrupt attempt to make money out of sensitive and potentially very damaging information.” He added, “If The News of the World had accepted her offer, it’s clear, in my view, that Ms. Casburn would have taken the money, and, as a result, she posed a significant threat to the integrity of this important police investigation.”


More trials are expected to follow this year as prosecutors work their way through the cases of more than 90 editors, reporters, investigators and news executives who have been arrested and questioned in a wide-ranging investigation that has spread beyond phone hacking to computer hacking, bribery of public officials and tampering with evidence, among other forms of wrongdoing.


The scandal has shaken Mr. Murdoch’s global media empire, costing it hundreds of millions of dollars in legal settlements and other costs. It also precipitated a breakup of Mr. Murdoch’s media conglomerate, News Corporation, based in New York, into two companies that will separate the company’s newspaper holdings, some of them in a financially perilous state, and its far more lucrative television and film interests.


Revelations about the covert working practices of powerful British newspapers, mainly at two Murdoch-owned mass-circulation tabloids, the daily Sun and the Sunday News of the World, which was shuttered by Mr. Murdoch as the phone hacking scandal burgeoned in 2011, have also had profound reverberations across Britain. The report late last year of a public inquiry led by a high court judge, Sir Brian Leveson, exposed, in addition to the widespread newsroom malpractice, a pattern of unhealthily cozy relationships between Britain’s newspapers, its senior politicians, and the police.


With her sentencing on Friday, Ms. Casburn, one of the most senior female officers at Scotland Yard, became a totem for others facing prosecution and possible jail terms at trials later this year. Among them are Andy Coulson, a former News of the World editor who went on to become communications chief for Prime Minister David Cameron before quitting over the scandal; Rebekah Brooks, a former Sun and News of the World editor who became Mr. Murdoch’s handpicked chief executive at News International, the Murdoch newspaper subsidiary in Britain, before resigning with a multimillion-dollar buyout; and Charlie Brooks, Ms. Brooks’s husband, who is an Eton College contemporary and sometime riding companion of Mr. Cameron.


Before the sentencing of Ms. Casburn, the only convictions in the phone hacking upheaval came in 2007, when an earlier police investigation resulted in jail terms of four months for Clive Goodman, The News of the World’s royal correspondent, and six months for Glenn Mulcaire, for their role in hacking into the cellphone messages of royal family members and their aides.


Their trials brought a three-year hiatus in the Scotland Yard investigation after prosecutors accepted assurances from the Murdoch-owned papers that the activities of the two men constituted a “rogue” operation and that there was no wider pattern of criminal wrongdoing at the tabloids.


That changed in 2010, when Scotland Yard reopened its investigation, Ms. Casburn’s trial was told, on the basis of an article in The New York Times that concluded that there had been a widespread pattern of phone hacking at The News of the World. Within a week of that article, a senior Scotland Yard officer, Assistant Commissioner John Yates, was ordered to review police files. The Casburn jurors were told that she made her call to The News of the World shortly after Mr. Yates briefed members of the counterterrorism unit on his plans for the investigation.


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3 Things That Still Worry Me About BlackBerry






BlackBerry put on a pretty good show on Wednesday when it revealed the Z10 and the Q10, its first new smartphones in a year and a half. The demos were crisp, and the new BlackBerry 10 software looked clever. At the very least, it seems that BlackBerry has finally joined the modern smartphone era.


But despite my interest in BlackBerry’s new phones, I’m still worried about the future of the platform, and not merely because it’s been off the radar for a while. Looking at what BlackBerry did and didn’t announce, and what reviewers are saying about the product, gives me a few big reasons for concern:






Apps, Both Present and Future


BlackBerry deserves credit for having lots of apps out of the gate–more than 70,000, the company says–including some important ones like Twitter, Facebook, Angry Birds and The New York Times. Still, there are some big names missing from the list, including Netflix, YouTube, Spotify and Instagram. You can’t expect a new platform to have everything right away, though, so I don’t want to judge BlackBerry’s current app count too harshly.


It’s the future that I’m really worried about. What happens when the next Instagram comes out, and becomes a sensation on the iPhone and Android? Will BlackBerry be like Windows Phone–that is, just an afterthought in the minds of up-and-coming app developers? The good news is that Android apps are relatively easy to port to BlackBerry 10 (in fact, roughly 40 percent of those 70,000 launch apps are simple ports, ReadWrite notes), so RIM just has to convince developers to make a relatively small effort. We’ll see if they do.


Never Neglect Maps


The consensus among BlackBerry Z10 reviews is that its Maps app is subpar. The Verge complained about inaccurate data, and said the software couldn’t reliably find local businesses. CNet bemoaned a lack of features, such as walking directions, transit maps and street views. Apparently the software doesn’t even let you jump into the Maps app by tapping on an address or map in the web browser. That’s just basic stuff. At least the Maps app includes voice-guided turn-by-turn directions.


In any case, having a good mapping service isn’t just about telling you where to go. It’s about using your location to deliver useful information. Google Now, for instance, can warn you about traffic before your commute home, and Apple‘s Passbook can call up a boarding pass when you get to the airport. These days, a really good standalone Maps app is only part of the equation, and BlackBerry doesn’t even have that yet.


Voice Commands and Virtual Assistants


BlackBerry has added voice commands in its new phones, but the list of supported actions is paltry compared to what Android and the iPhone offer. You can’t ask for movie times, the weather forecast, directions, or things to do. You can’t tell the phone to start playing music, answer a trivia question, calculate numbers or set reminders.


You may argue that it doesn’t matter, that most people don’t rely too heavily on voice commands to begin with. I think that will change as these virtual assistants become faster and support more types of queries. They’ll also become more useful in automobiles–in fact, some car makers are now starting to integrate Siri–and they may some day play a big role in wearable computing, allowing you to communicate by voice when your phone is just out of reach. It’s still early days for this kind of technology, but Apple and Google already have a huge head start. BlackBerry, by comparison, is just getting started.


I’m not saying the new BlackBerry phones are no good, or that no one should use them. Like I said before, the software has some clever ideas, such as the Hub that combines all communications into one area, and the Balance feature that acts as a separate login for business use. But the smartphone industry moves quickly, and BlackBerry’s period of rebuilding has taken its toll in a few key areas. As with before, it’s going to be hard for the company to catch up.


MORE: Check out a video about the new hardware and features


Wireless News Headlines – Yahoo! News





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Elton John's Family Album















01/31/2013 at 10:00 AM EST



Like any parents about to welcome their second child, Elton John and partner David Furnish wondered how their 2-year-old son Zachary would react when his little brother Elijah came home.

Turns out, they had nothing to worry about.

Zachary "is as excited as we are," says John, 65, who, with Furnish, 50, welcomed Elijah on Jan. 11 in L.A. via the same surrogate who delivered Zachary in 2010 (they also used the same egg donor and again chose not to learn which of them was their son's biological father).

"Zachary has given him lots of cuddles," says Furnish. "But we suspect he's wondering how much longer he has to wait until they can play together!"

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Sex to burn calories? Authors expose obesity myths


Fact or fiction? Sex burns a lot of calories. Snacking or skipping breakfast is bad. School gym classes make a big difference in kids' weight.


All are myths or at least presumptions that may not be true, say researchers who reviewed the science behind some widely held obesity beliefs and found it lacking.


Their report in Thursday's New England Journal of Medicine says dogma and fallacies are detracting from real solutions to the nation's weight problems.


"The evidence is what matters," and many feel-good ideas repeated by well-meaning health experts just don't have it, said the lead author, David Allison, a biostatistician at the University of Alabama at Birmingham.


Independent researchers say the authors have some valid points. But many of the report's authors also have deep financial ties to food, beverage and weight-loss product makers — the disclosures take up half a page of fine print in the journal.


"It raises questions about what the purpose of this paper is" and whether it's aimed at promoting drugs, meal replacement products and bariatric surgery as solutions, said Marion Nestle, a New York University professor of nutrition and food studies.


"The big issues in weight loss are how you change the food environment in order for people to make healthy choices," such as limits on soda sizes and marketing junk food to children, she said. Some of the myths they cite are "straw men" issues, she said.


But some are pretty interesting.


Sex, for instance. Not that people do it to try to lose weight, but claims that it burns 100 to 300 calories are common, Allison said. Yet the only study that scientifically measured the energy output found that sex lasted six minutes on average — "disappointing, isn't it?" — and burned a mere 21 calories, about as much as walking, he said.


That's for a man. The study was done in 1984 and didn't measure the women's experience.


Among the other myths or assumptions the authors cite, based on their review of the most rigorous studies on each topic:


—Small changes in diet or exercise lead to large, long-term weight changes. Fact: The body adapts to changes, so small steps to cut calories don't have the same effect over time, studies suggest. At least one outside expert agrees with the authors that the "small changes" concept is based on an "oversimplified" 3,500-calorie rule, that adding or cutting that many calories alters weight by one pound.


—School gym classes have a big impact on kids' weight. Fact: Classes typically are not long, often or intense enough to make much difference.


—Losing a lot of weight quickly is worse than losing a little slowly over the long term. Fact: Although many dieters regain weight, those who lose a lot to start with often end up at a lower weight than people who drop more modest amounts.


—Snacking leads to weight gain. Fact: No high quality studies support that, the authors say.


—Regularly eating breakfast helps prevent obesity. Fact: Two studies found no effect on weight and one suggested that the effect depended on whether people were used to skipping breakfast or not.


—Setting overly ambitious goals leads to frustration and less weight loss. Fact: Some studies suggest people do better with high goals.


Some things may not have the strongest evidence for preventing obesity but are good for other reasons, such as breastfeeding and eating plenty of fruits and vegetables, the authors write. And exercise helps prevent a host of health problems regardless of whether it helps a person shed weight.


"I agree with most of the points" except the authors' conclusions that meal replacement products and diet drugs work for battling obesity, said Dr. David Ludwig, a prominent obesity research with Boston Children's Hospital who has no industry ties. Most weight-loss drugs sold over the last century had to be recalled because of serious side effects, so "there's much more evidence of failure than success," he said.


___


Online:


Obesity info: http://www.cdc.gov/obesity/data/trends.html


New England Journal: http://www.nejm.org


___


Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP


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Wall Street opens flat after mixed data


NEW YORK (Reuters) - Stocks opened flat on Thursday as economic data continued to paint a mixed picture of the economy and as investors sifted through a host of corporate earnings reports.


The Dow Jones industrial average <.dji> was down 16.05 points, or 0.12 percent, at 13,894.37. The Standard & Poor's 500 Index <.spx> was down 1.81 points, or 0.12 percent, at 1,500.15. The Nasdaq Composite Index <.ixic> was down 0.55 points, or 0.02 percent, at 3,141.75.


(Reporting by Ryan Vlastelica; Editing by Bernadette Baum)



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IHT Rendezvous: Europeans Dismantle People-Smuggling Ring

LONDON — European police said on Wednesday that they had dismantled a criminal network that smuggled illegal migrants into the European Union, arresting more than 100 suspects across the Continent, from France to the Balkans.

The network smuggled people principally from Afghanistan, Iraq, Pakistan, Syria and Turkey.

Europol, a joint law enforcement agency set up to fight serious crime in the 27-member Union, said 117 house searches had been carried out in operations in the early hours of Tuesday morning that involved more than 1,200 police officers.

The latest crackdown on people-smugglers highlighted a chronic problem for European authorities as would-be migrants, desperate to escape poverty and conflict in their home countries, put their fate in the hands of organized criminal gangs to take a well-worn route via Turkey and the Balkans.

Interpol says the traffic is a high-profit, low-risk enterprise for transnational criminal syndicates.

“People smuggling syndicates are drawn by the huge profits that can be made, while benefiting from weak legislation and the relatively low risk of detection, prosecution and arrest,” according to the international police organization.

The International Organization for Migration (I.O.M.) said in a 2011 report that the activity earns organized crime groups an estimated $3 to $10 billion a year worldwide.

Europol described this week’s action as one of the largest coordinated efforts against people smugglers at a European level. It was also the latest indication that countries are pooling resources to fight international organized crime gangs.

Police and migration experts say there is a difference between people-smuggling, in which would-be migrants voluntarily pay to illegally cross transnational borders, and people-trafficking, which involves the criminal exploitation of duped or unwilling victims.

“Smuggling implies the procurement of irregular entry into a state of which the individual is neither a citizen nor a permanent resident, for financial or material gain,” according to the I.O.M. “Trafficking, on the other hand, occurs for the purpose of exploitation, often involving forced labor and prostitution.”

However, that may turn out to be a fine distinction for would-be illegal migrants who face abuse at the hands of the crime gangs.

Europol said migrants were often smuggled in inhuman and dangerous conditions in small hidden compartments in the floor of buses or trucks, in freight trains or on boats.

Gangs operating on the so-called West Balkans smuggling route have proved to be innovative and flexible in the face of increased international cooperation to tackle the trade.

Greek police broke up a smuggling network in 2007 that was transporting Albanian migrants across a dangerous mountain route. The smugglers then switched to alternative routes via Croatia, Montenegro and Serbia to Italy, Hungary and Slovenia.

The main destinations of the illegal migrants are France, Britain, Spain, Italy and Belgium. The raids this week involved operations in France and Germany as well as eastern Europe and Turkey.

Europol reported 103 arrests and said cell phones, computers, cash and a semi-automatic rifle with a large amount of ammunition were among the items seized.

In November, British immigration officers arrested eight suspects in an alleged criminal network suspected of helping Iranian migrants reach Britain from mainland Europe. That followed a joint investigation with Spain’s Guardia Civil that led to 11 other arrests in Madrid and Alicante.

Although the illegal immigrants may be traveling willingly in the search of a better life, people-smuggling is not a victimless crime.

The I.O.M. said in its 2011 report: “Numerous other crimes are oftentimes linked to people smuggling – human trafficking, identity fraud, corruption and money laundering – creating shadow governance systems that undercut the rule of law.”

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Facebook slumps as mobile ad growth fails to impress






(Reuters) – Shares of Facebook Inc were set to open 7 percent lower on Thursday as a surge in fourth-quarter mobile advertising revenue failed to live up to Wall Street’s high expectations.


Three brokerages downgraded the stock of the No. 1 social network, which has struggled to develop a full-fledged mobile advertising business.






Facebook has long established itself as one of the most important websites, but investors have worried that until the company’s mobile advertising strategy takes off, revenue growth will remain shaky.


The company reported a better-than-expected fourth-quarter profit on Wednesday and said its mobile advertising revenue doubled to $ 306 million, suggesting it was making inroads into handheld devices such as smartphones and tablets.


Investors were looking for at least $ 350 million in mobile advertising revenue, Piper Jaffray analyst Gene Munster said in a note to clients.


“While the trajectory of mobile growth may not be as steep as some investors were hoping, the theme of mobile as the future of Facebook remains intact,” he said.


BMO Capital Markets analyst Daniel Salmon, who downgraded the stock to “market perform” from “outperform”, however said Facebook’s 2013 stock performance would not be dictated by its ability to generate mobile ad dollars.


He said new catalysts were necessary to drive Facebook’s stock price up.


Facebook’s stock, which has lost over a quarter of its value since its botched debut in May, were down at $ 29.08 in premarket trading. The shares closed at $ 31.24 on the Nasdaq on Wednesday.


(Reporting by Neha Alawadhi in Bangalore; Editing by Saumyadeb Chakrabarty)


Social Media News Headlines – Yahoo! News





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Kate's Perfect Nose Inspires Women to Have Plastic Surgery









01/30/2013 at 10:00 AM EST







Catherine, Duchess of Cambridge


REX USA; AFP/Getty; REX USA


The dresses she wears fly off the shelves. Her hair is the envy of women around the world. And she's even helped boost sales of hosiery in the U.K.

So is it any wonder that women also want Kate's nose?

British plastic surgeons say requests for the Duchess of Cambridge's "near perfect" and petite nose have tripled since 2011, according to the Daily Mail, which has interviewed several women who said having a similar eye-catching royal profile was exactly the look they sought as they underwent rhinoplasty.

"Her nose is straight with a cute, rounded tip and is perfectly in proportion to her face," plastic surgeon Maurizio Persico said. "This gives Kate an attractive and striking profile."

"Plus, she always looks happy and confident in photos, which is especially appealing to women whose own appearance makes them unhappy – those who feel self-conscious about larger or crooked noses, which they believe dominate their faces," Persico added.

According to psychologist Carmen Lefevre, who studies facial attributes and behavior at the University of St. Andrews, it's not just because Kate's a princess that her nose inspires envy.

"The symmetry of Kate's nose, the angle between her lip and the tip of her nose and the minimal amount of nostril on show, are all near-perfect," Lefevre told the paper.

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Soldier with new arms determined to be independent


BALTIMORE (AP) — After weeks of round-the-clock medical care, Brendan Marrocco insisted on rolling his own wheelchair into a news conference using his new transplanted arms. Then he brushed his hair to one side.


Such simple tasks would go unnoticed in most patients. But for Marrocco, who lost all four limbs while serving in Iraq, these little actions demonstrate how far he's come only six weeks after getting a double-arm transplant.


Wounded by a roadside bomb in 2009, the former soldier said he could get by without legs, but he hated living without arms.


"Not having arms takes so much away from you. Even your personality, you know. You talk with your hands. You do everything with your hands, and when you don't have that, you're kind of lost for a while," the 26-year-old New Yorker told reporters Tuesday at Johns Hopkins Hospital.


Doctors don't want him using his new arms too much yet, but his gritty determination to regain independence was one of the chief reasons he was chosen to receive the surgery, which has been performed in the U.S. only seven times.


That's the message Marrocco said he has for other wounded soldiers.


"Just not to give up hope. You know, life always gets better, and you're still alive," he said. "And to be stubborn. There's a lot of people who will say you can't do something. Just be stubborn and do it anyway. Work your ass off and do it."


Dr. W.P. Andrew Lee, head of the team that conducted the surgery, said the new arms could eventually provide much of the same function as his original arms and hands. Another double-arm transplant patient can now use chopsticks and tie his shoes.


Lee said Marrocco's recovery has been remarkable, and the transplant is helping to "restore physical and psychological well-being."


Tuesday's news conference was held to mark a milestone in his recovery — the day he was to be discharged from the hospital.


Next comes several years of rehabilitation, including physical therapy that is going to become more difficult as feeling returns to the arms.


Before the surgery, he had been living with his older brother in a specially equipped home on New York's Staten Island that had been built with the help of several charities. Shortly after moving in, he said it was "a relief to not have to rely on other people so much."


The home was heavily damaged by Superstorm Sandy last fall.


"We'll get it back together. We've been through a lot worse than that," his father, Alex Marrocco, said.


For the next few months, Marrocco plans to live with his brother in an apartment near the hospital.


The former infantryman said he can already move the elbow on his left arm and rotate it a little bit, but there hasn't been much movement yet for his right arm, which was transplanted higher up.


Marrocco's mother, Michelle Marrocco, said he can't hug her yet, so he brushes his left arm against her face.


The first time he moved his left arm was a complete surprise, an involuntary motion while friends were visiting him in the hospital, he said.


"I had no idea what was going through my mind. I was with my friends, and it happened by accident," he recalled. "One of my friends said 'Did you do that on purpose?' And I didn't know I did it."


Marrocco's operation also involved a technical feat not tried in previous cases, Lee said in an interview after the news conference.


A small part of Marrocco's left forearm remained just below his elbow, and doctors transplanted a whole new forearm around and on top of it, then rewired nerves to serve the old and new muscles in that arm.


"We wanted to save his joint. In the unlucky event we would lose the transplant, we still wanted him to have the elbow joint," Lee said.


He also explained why leg transplants are not done for people missing those limbs — "it's not very practical." That's because nerves regrow at best about an inch a month, so it would be many years before a transplanted leg was useful.


Even if movement returned, a patient might lack sensation on the soles of the feet, which would be unsafe if the person stepped on sharp objects and couldn't feel the pain.


And unlike prosthetic arms and hands, which many patients find frustrating, the ones for legs are good. That makes the risks of a transplant not worth taking.


"It's premature" until there are better ways to help nerves regrow, Lee said.


Now Marrocco, who was the first soldier to survive losing all four limbs in the Iraq War, is looking forward to getting behind the wheel of his black 2006 Dodge Charger and hand-cycling a marathon.


Asked if he could one day throw a football, Dr. Jaimie Shores said sure, but maybe not like Baltimore Ravens quarterback Joe Flacco.


"Thanks for having faith in me," Marrocco interjected, drawing laughter from the crowd.


His mother said Marrocco has always been "a tough cookie."


"He's not changed that, and he's just taken it and made it an art form," Michelle Marrocco said. "He's never going to stop. He's going to be that boy I knew was going to be a pain in my butt forever. And he's going to show people how to live their lives."


___


Associated Press Chief Medical Writer Marilynn Marchione in Milwaukee and AP writer David Dishneau in Hagerstown, Md., contributed to this report.


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Wall Street edges higher, Amazon offsets GDP

NEW YORK (Reuters) - Stocks were flat on Wednesday as an unexpectedly weak read on fourth-quarter economic activity was offset by strong results at Boeing and Amazon.com.


Equities continued to shrug off negative news, with the S&P 500 staying above 1,500, a level that market technicians call an inflection point that will determine the overall direction in the near term.


The first read showed gross domestic product fell 0.1 percent, far below expectations for growth of 1.1 percent. However, private sector employment topped forecasts, with the ADP National Employment report showing 192,000 jobs added in January, higher than the 165,000 expectation.


"The GDP report is the only negative shock we've had in a while, and it isn't terrible since it showed increases in business and consumer spending, which is what everyone wants to drive growth from here," said Randy Frederick, managing director of active trading and derivatives for Charles Schwab in Austin, Texas.


Deeper losses were prevented by a rise in both Boeing Co and Amazon.com Inc , which rallied after earnings beat expectations, continuing a trend this quarter of high-profile names advancing after results.


Amazon.com Inc rose 6.7 percent to $277.87 a day after reporting strong revenue growth. Boeing rose 0.5 percent to $74 after its results. The Dow component also said that while production continued on its Dreamliner jet, which has had technical problems recently, it was suspending delivery until clearance was granted by the Federal Aviation Administration.


Thomson Reuters data showed that of the 174 companies in the S&P 500 that have reported earnings this season, 68.4 percent have been above analyst expectations, which is a higher proportion than over the past four quarters and above the average since 1994.


The Dow Jones industrial average <.dji> was up 5.50 points, or 0.04 percent, at 13,959.92. The Standard & Poor's 500 Index <.spx> was up 1.09 points, or 0.07 percent, at 1,508.93. The Nasdaq Composite Index <.ixic> was up 5.73 points, or 0.18 percent, at 3,159.39.


The S&P 500 is on track to post its best monthly performance since October 2011 as investors poured $55 billion in new cash into stock mutual funds and exchange-traded funds in January, the biggest monthly inflow on record.


The Dow Jones industrial average has been flirting with 14,000, a level it hasn't seen since October 2007. Many analysts have said markets may need to take a pause.


"I'm neutral on markets at these levels, even though there aren't a lot of negatives out there," Frederick said. "At some point there will be a pullback, but the underlying trends remain strong and I think it is possible the S&P could hit a new all-time high sometime this quarter."


The all-time intraday high for the S&P 500 is 1,576.09, reached October 11, 2007.


The Federal Reserve concludes a two-day meeting on Wednesday, and while the central bank is expected to keep monetary policy on a steady path, intensive debates continue behind the scenes over when the controversial bond-buying program should be curtailed.


Chesapeake Energy Corp rose 11 percent to $21.11 as the S&P's biggest percentage gainer, a day after saying Aubrey McClendon would step down as chief executive after a year in which a series of Reuters investigations triggered civil and criminal probes of the second-largest U.S. natural gas producer.


(Editing by Chizu Nomiyama and Nick Zieminski)



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