Composición de un grupo de usuarios OpenNMS independiente; conferencia prevista para marzo 2013

Un grupo de usuarios OpenNMS ha creado la OpenNMS Foundation Europe como organización sin ánimo de lucro para promover la gestión de red en general y la plataforma de gestión de red OpenNMS en particular. "La OpenNMS Foundation Europe acoge a todos aquellos usuarios de OpenNMS dentro de la comunidad OpenNMS, no solo a aquellos que contribuyen al código. Hemos integrado con éxito a aquellos que contribuyen al código, pero si uno fuese únicamente un usuario satisfecho que deseara compartir con el resto y aprender de ellos, estaríamos mucho peor organizados", ha explicado Alex Finger, presidente de la OpenNMS Foundation Europe. "Ahora disponemos de un lugar en el que reunir a los seguidores de OpenNMS y difundir nuestros conocimientos y experiencia en relación con el producto. Queremos abogar por el open source y enseñar a los demás a utilizar OpenNMS. La fundación es una forma de ampliar esta comunidad". La agenda de la conferencia de usuarios prevista para el año que viene ya está repleta de las historias y experiencias de estos usuarios, y completada por una formación básica y avanzada de la aplicación. Tarus Balog, CEO del grupo OpenNMS Group (la empresa con ánimo de lucro detrás de OpenNMS), ha declarado: "Una de las plataformas de gestión más exitosa de todos los tiempos fue OpenView, de Hewlett-Packard. En gran medida, este éxito se puede atribuir a la comunidad independiente y activa desarrollada por el grupo de usuarios OpenView Forum. El hecho de que la fundación promueva todavía más OpenNMS y haga hincapié en la naturaleza open source del software nos anima y entusiasma". La conferencia de usuarios OpenNMS está prevista para la semana del 11 de marzo de 2013, y tendrá lugar en la Universidad de Fulda, Alemania. La información completa sobre dicha conferencia y las oportunidades de patrocinio están disponibles en http://opennms.eu. ACERCA DE OPENNMS OpenNMS (www.opennms.org) es la primera plataforma de aplicación de gestión de red de empresa desarrollada siguiendo el modelo open source. Es una alternativa de software totalmente gratuita frente a los productos comerciales como HP Operations Manager, IBM Tivoli, y CA Unicenter. ACERCA DE LA OPENNMS FOUNDATION La OpenNMS Foundation Europe (www.opennms.eu) es una organización registrada sin ánimo de lucro de Alemania. La fundación promueve la educación, investigación, defensa e intercambio de conocimientos en torno a la gestión de red con software open source y, específicamente, OpenNMS. Está abierta para aquellas personas y empresas interesadas en formar parte de dicha comunidad. ACERCA DEL GRUPO OPENNMS El grupo OpenNMS (www.opennms.com) mantiene el proyecto OpenNMS. Dicho grupo también ofrece asistencia comercial, servicios y formación para la plataforma OpenNMS. El comunicado en el idioma original, es la versión oficial y autorizada del mismo. La traducción es solamente un medio de ayuda y deberá ser comparada con el texto en idioma original, que es la única versión del texto que tendrá validez legal.

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Cricket-Oram opts out of New Zealand contract

Dec 22 (Reuters) - All-rounder Jacob Oram has opted out of his New Zealand Cricket (NZC) central contract to focus on his professional Twenty20 career.
The 34-year-old Oram, who played 33 tests and 160 one-day internationals, secured an early release from his contract, NZC said in a statement on Saturday.
"This was a very difficult decision but in recent weeks I have come to the conclusion that I can no longer make a full-time commitment to NZC," Oram said in the statement.
"Various factors have led me to make this decision including my age, the stage of my career and the impending birth of my second child.
"I really enjoy the Twenty20 format and see it as a way to stay involved in cricket for a while longer."
Oram, who quit test cricket in 2009 in a bid to prolong his career, has struggled with injuries in recent years and managed only one ODI and a T20 match against Sri Lanka on tour in October and November.
He was left out of the team's T20 tour squad for South Africa and would be unlikely to feature in New Zealand's three one-day matches against the Proteas from Jan. 19-25, a NZC spokesman said.
Oram would continue to play T20 cricket for domestic side Central Districts and play in competitions overseas, he said.
However, the door would still be open for his return to international cricket again, NZC said.
A powerful striker of the ball, the 1.98 metre (6-ft-6in) left-hander compiled over 1,780 test runs at an average of over 36 and 2,434 runs in ODIs.
He also netted 60 test wickets with his right-arm medium pace bowling and 173 ODI wickets at an average of just over 29.
NZC said it would offer another player to take over Oram's contract for the remainder of the period to July 31.

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Cricket-Revolving pace door no problem for Australia - Siddle

MELBOURNE, Dec 22 (Reuters) - Paceman Peter Siddle has backed Australia's attack to shrug off a glut of injuries that have hit the team's fast bowling stocks ahead of the second test against Sri Lanka starting on Wednesday.
Australia, who have won just one of their past four tests, have enjoyed precious little continuity in their pace attack due to injuries and fatigue, and are set for another reshuffle with Ben Hilfenhaus ruled out of the Boxing Day test in Melbourne.
Left-armers Mitchell Starc and Mitchell Johnston, and the uncapped Jackson Bird are vying to join Siddle in a three-man pace attack at the Melbourne Cricket Ground, with selectors likely to retain spinner Nathan Lyon.
Siddle, man of the match with nine wickets in Australia's last-gasp defeat of Sri Lanka in Hobart on Monday, said the hosts' reserves were strong enough to step up to the challenge.
"That's probably been the big thing that we've done well in especially the past 18 months," Siddle told reporters in Melbourne on Saturday.
"Whoever's come into the squad they've known what they had to do.
"The guys that have come in have shown that they can execute their skills and work with the rest of the players in the squad to maintain that pressure.
"That's what the success that we've had in that time has come down to.
"The squad has changed a lot with the bowlers, but we've stuck together, we've worked well as a team."
ROTATION POLICY
Australia have lost young pacemen Pat Cummins and James Pattinson for the home series, and selectors have stoked controversy by adopting a rotation policy to preserve the fitness of the remaining bowlers.
Both Hilfenhaus and Siddle were rested for Australia's loss against South Africa in the third test in Perth, which cost them the series 1-0, while local media have speculated 22-year-old Starc could be dropped for the Melbourne test despite taking a five-wicket haul in the second innings in Hobart.
Siddle backed the rotation policy, however, and said would-be debutant Bird would be well suited to the MCG, where has taken 14 wickets at an average of 12.07 in two Sheffield Shield games.
"It's a very patient ground," 28-year-old Siddle said.
"I guess I've had my success a similar way to (Bird) - you bowl nagging lengths and be patient, you bowl tight lines - that's sort of been the go-to here for us.
"He's a very similar type to those sort of styles."

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Cricket-Herath hopes to put Australia in a Melbourne spin

Dec 22 (Reuters) - Sri Lankan slow bowling spearhead Rangana Herath believes that Australia's limited opportunities to face quality spinners in domestic cricket will enhance his side's chances of success in next week's second test.
Herath, the leading test wicket-taker in 2012 with 60 victims from nine matches, has carried the burden of leading the Sri Lankan attack since the retirement of spinning great Muttiah Muralitharan.
The left-armer grabbed a second innings five-wicket haul in the first test in Hobart, which Sri Lanka lost by 137 runs, and is likely to be a handful in the Boxing Day test in Melbourne, on a pitch expected to offer help for slow bowlers.
"I know that the Australians, even in domestic cricket, they are 80-90 percent playing against fast bowlers," Herath told reporters in Melbourne on Saturday.
"So with that, I have chances to get wickets bowling spin."
Sri Lanka are still chasing their first test victory Down Under and need a win to square the series going into the third and final match in Sydney on Jan. 3.
The visitors will take heart from the fact that they won a test in South Africa last year while trailing 1-0 in the series with Herath claiming nine wickets in a man-of-the-match performance.
"In South Africa, (it was) the same scenario," he said.
"We lost... in the first test and we came back strongly and we did well and we won against South Africa in that Boxing Day test match," added the 34-year-old, who has taken 179 wickets in 43 tests.
"That was a remarkable one, because that's the only (test) we have won against South Africa on their soil.

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Herath hopes to put Australia in a Melbourne spin

(Reuters) - Sri Lankan slow bowling spearhead Rangana Herath believes that Australia's limited opportunities to face quality spinners in domestic cricket will enhance his side's chances of success in next week's second test.
Herath, the leading test wicket-taker in 2012 with 60 victims from nine matches, has carried the burden of leading the Sri Lankan attack since the retirement of spinning great Muttiah Muralitharan.
The left-armer grabbed a second innings five-wicket haul in the first test in Hobart, which Sri Lanka lost by 137 runs, and is likely to be a handful in the Boxing Day test in Melbourne, on a pitch expected to offer help for slow bowlers.
"I know that the Australians, even in domestic cricket, they are 80-90 percent playing against fast bowlers," Herath told reporters in Melbourne on Saturday.
"So with that, I have chances to get wickets bowling spin."
Sri Lanka are still chasing their first test victory Down Under and need a win to square the series going into the third and final match in Sydney on January 3.
The visitors will take heart from the fact that they won a test in South Africa last year while trailing 1-0 in the series with Herath claiming nine wickets in a man-of-the-match performance.
"In South Africa, (it was) the same scenario," he said.
"We lost... in the first test and we came back strongly and we did well and we won against South Africa in that Boxing Day test match," added the 34-year-old, who has taken 179 wickets in 43 tests.
"That was a remarkable one, because that's the only (test) we have won against South Africa on their soil."

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Cricket-England's Pietersen rested for New Zealand ODIs

Dec 23 (Reuters) - Prolific batsman Kevin Pietersen has been left out of England's limited-overs squad for next year's New Zealand tour as part of a policy to better manage the workload of players, the country's cricket board said on Sunday.
Former skipper Pietersen, who will play in the five-match one-day international series in India next month, will not be part of the three Twenty20 internationals and three ODIs in New Zealand.
Meanwhile, James Anderson, Jonathan Trott and Graeme Swann were named in the ODI squad after being rested for the five-match series against India, the England and Wales Cricket Board (ECB) said in a statement.
"There are a number of players who we have decided not to select... as we look to manage their workloads effectively while ensuring we remain competitive across all formats," national selector Geoff Miller said.
"We feel this is the best way of keeping players as physically and mentally fresh as possible during a demanding 2013 and beyond.
"Kevin Pietersen will miss the limited-overs tour of New Zealand with Graeme Swann missing the T20 leg of the tour.
"This approach also provides an opportunity for talented young players to gain more international experience which will be important for their development and the development of England sides in the future."
All-rounder Stuart Broad will return to lead the T20 side after missing the two-match series against India.
England will also play three tests against New Zealand during their tour which starts with the first T20 match in Auckland on Feb. 9.
England T20 squad: Stuart Broad (captain), Jonny Bairstow, Tim Bresnan, Danny Briggs, Jos Buttler, Jade Dernbach, Steven Finn, Alex Hales, Michael Lumb, Stuart Meaker, Eoin Morgan, Samit Patel, James Tredwell and Luke Wright.
England ODI squad: Alastair Cook (captain), James Anderson, Jonny Bairstow, Ian Bell, Tim Bresnan, Stuart Broad, Jos Buttler, Steven Finn, Craig Kieswetter, Eoin Morgan, Samit Patel, Graeme Swann, James Tredwell and Jonathan Trott.

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Wall St clings to hopes for budget deal, but market risks rising

NEW YORK (Reuters) - If the United States sails over the fiscal cliff in less than two weeks, it probably will not mean disaster for the stock market, investors said on Friday, but the margin for error is getting dangerously thin.
At heart are fears over how long the U.S. economy, the world's largest, can hold up under the brunt of higher taxes and big spending cuts that would be triggered by the fiscal cliff.
If Washington's inability to reach a deficit-reduction deal persists into late January or provokes a second credit ratings agency to strip the United States of its top triple-A rating, all bets may be off.
"Clearly, if this thing drags on with no deal, eventually markets are going to start to take it on the chin," said Sandy Lincoln, chief market strategist at BMO Asset Management in Chicago, which oversees $38 billion.
Stock markets fell on Friday after a Republican proposal that would have prevented tax increases on all but those earning more than $1 million unraveled amid a conservative backlash.
Though President Barack Obama had vowed to veto the bill, opposition from Republicans stoked doubt about the ability of House of Representatives Speaker John Boehner to win support within his party. That suggested the two sides were too far apart to reach a deal to forestall the $600 billion in automatic tax hikes and spending cuts before they are set to begin to take effect in January.
"The fact they couldn't even get the Republicans in Congress to sign on for that is disturbing. If we get into late January, early February and we are still in the soup, then the odds of going into a recession go up, and I just can't believe anybody wants that," said Jeffrey Saut, chief investment strategist at Raymond Jones Financial.
HEATING UP
If the new year dawns without a deal, Jack Ablin, chief investment officer at BMO Private Bank, said he would view "any incremental market sell-off as a buying opportunity."
But if things remain in limbo in February, "that is going to leave a mark on the economy," he said. "The way I'd characterize it is that we're sitting in this pot of water and on January 1, Congress turns on the flame underneath. It's comfortable at first, but eventually it's going to start to hurt."
Americans would start to feel the effects in their wallets. As of 2013, payroll taxes would revert to 6.2 percent of Americans' paychecks, up from the 4.2 percent level put in place during the economic downturn.
Higher income tax rates would also start to hit, though that could be delayed by officials in Washington. Still, Americans would start to feel a pinch on their paychecks, which could hurt spending next year. Some investors believe holiday sales are already being affected.
Another risk, said BNY Mellon currency strategist Michael Woolfolk, would be if a second ratings agency cuts the United States' AAA rating, a move that Standard & Poor's made after a similar budget standoff in 2011.
Fitch Ratings said this week it would be more likely to downgrade the United States if the economy goes over the cliff.
"Markets would take that very badly," Woolfolk said. "Stocks sold off by 10 percent after the S&P downgrade in 2011, and I'd expect something at least as severe" if Fitch were to act.
LAST-MINUTE DEAL STILL POSSIBLE
Of course, lawmakers still have 10 days left in 2012 to strike a deal, and some are confident they will return to Capitol Hill after Christmas and do just that.
"So far, the market has been handling setbacks in talks very well, and with a bit of time left on the clock, this time will be no different," said Jim Barnes, senior fixed income manager at National Penn Investors Trust Co.
For some, the political disarray among Congressional Republicans that sent Boehner's "Plan B" to defeat late on Thursday only increased those hopes.
"Given that Reid called Plan B 'dead on arrival' and Obama said he would veto it, the non-passage of this bill due to lack of Republican support makes it more likely, not less likely, that compromise will be reached," said Jeffrey Gundlach, chief executive officer and chief investment officer of DoubleLine Capital, which oversees more than $50 billion.
Harry Reid is the Democratic Senate leader.
The "continued positioning and posturing" isn't a huge concern to investors, Woolfolk said. "Neither side has incentive to compromise too much, too soon. They can extract concessions by delaying. So I would not be surprised if it takes until minutes before midnight on December 31."
All the back-and-forth, however, may keep the stock market a bit more volatile than it would normally be so late in the year.
The benchmark S&P 500 <.spx> has gained or lost more than 1 percent in three of the past five trading sessions, while the CBOE Volatility Index <.vix> has climbed more than 20 percent over the past three days.
In a sign of the type of volatility investors may be confronted with, S&P 500 E-Mini futures fell as much as 3.6 percent in after-hours trading Thursday evening, with a 15-point drop in less than one second that resulted in a brief halt in futures trading.
"While last night's mini-crash is a rare event, I do expect bigger moves than we've seen in the past year," said Enis Taner, global macro editor at RiskReversal.com, an options trading firm based in New York.

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Signs suggest better economy if 'cliff' is averted

WASHINGTON (AP) — Fresh signs of a strengthening U.S. economy on Friday suggested that if Congress and the White House can avert the "fiscal cliff," the economic recovery might finally accelerate in 2013.
Consumers spent and earned more in November. And for a second straight month, U.S. companies increased their orders for a category of manufactured goods that reflects investment plans.
In light of the latest figures, some analysts said the economy could end up growing faster in the current October-December quarter — and next year — than they previously thought.
"I see momentum building," said Joel Naroff, chief economist at Naroff Economic Advisors. "If Washington makes the moves it needs to make, then the economy should pick up speed next year."
That's a big "if." House Republicans called off a vote on tax rates and left budget talks in disarray 10 days before the package of tax increases and spending cuts known as the fiscal cliff would take effect.
Still, helping lift the optimism of some analysts was a government report that consumer spending, which fuels about 70 percent of the economy, rose 0.4 percent in November compared with October. Spending had dipped 0.1 percent in October. But that decline was linked in part to disruptions from Superstorm Sandy.
Incomes rose 0.6 percent in November, the biggest gain in 11 months. It reflected a rebound in wages and salaries, which had been depressed in October. Damage from Sandy in the Northeast prevented some people from working at the end of October and reduced wages at an annual rate of $18 billion.
A separate report Friday showed that a category of durable-goods orders that tracks business investment surged 2.7 percent. That gain followed an upwardly revised 3.2 percent jump in October, the biggest in 10 months.
The back-to-back increases followed a period of weakness in so-called core capital goods that had raised concerns about business investment, a driving force in the economy.
The economy grew in the July-September quarter at a solid 3.1 percent annual rate. But some analysts said they thought growth would slow significantly in the October-December period. They predicted that consumers and businesses would cut back on spending because of worries about the fiscal cliff.
But after Friday's reports, Peter Newland, an economist at Barclays Capital, said Barclays is raising its estimate of growth in the current quarter to a 2.4 percent annual rate, from a previous estimate of 2.2 percent.
Naroff said he thinks growth in the fourth quarter can reach a 2.6 percent annual rate. He said he expects growth to hit a rate of around 3.2 percent in the January-March quarter and 3.6 percent in the April-June quarter.
He said those estimates are based on his confidence that Washington policymakers will avert the sharp tax increases and spending cuts, which could trigger a recession if they remain in place for much of 2013.
Naroff said U.S. economic growth would benefit next year from a rebounding housing market, gradual hiring gains that will boost incomes and the likelihood that Europe's financial crisis will ease and dampen U.S. exports less than in 2012.
But he said his optimistic forecasts would be derailed if the economy goes off the fiscal cliff in January, which could send shockwaves through financial markets.
"If the fiscal cliff is breached, the biggest concern is confidence," Naroff said. "I remain hopeful that saner heads will prevail in Washington."
Economists said the budget impasse and the uncertainty it's created about tax rates are reducing consumer confidence. The University of Michigan said Friday that its index of consumer sentiment for December fell to 72.9, its lowest point since July. It was a sharp drop from the November reading of 82.7, a five-year high.
Chris G. Christopher Jr., senior economist at IHS Global Insight, said he still expected holiday retail sales to increase a respectable 3.9 percent this year over last year despite slumping consumer confidence. And he said spending momentum should continue into 2013 — as long as the fiscal cliff is resolved in a way that avoids damaging the economy.
"We are assuming that the fiscal cliff does get resolved, and if it does, we should see strong consumer spending and momentum for the economy in 2013," Christopher said. "But if we go down the fiscal cliff, then the first quarter will not be pretty.

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Scenarios: Seven ways the US 'fiscal cliff' crisis could end

The U.S. House of Representatives' rejection of a bill to raise taxes on just 0.18 percent of Americans - those making more than $1 million a year - has raised questions about the Republican-led chamber's ability to approve any plan to avert the looming "fiscal cliff."
Unless President Barack Obama and the U.S. Congress can forge a deal during the Christmas and New Year's holiday season, the largest economy in the world could be thrust back into a recession because of the steep tax increases and spending cuts that are due to begin in January.
The threat of across-the-board government spending cuts and tax increases - about $600 billion worth - was intended to shock the Democratic-led White House and Senate and the Republican-led House into moving past their many differences to approve a plan that would bring tax relief to most Americans and curb runaway federal spending.
For weeks, Obama and House Speaker John Boehner, the top Republican in Congress, have struggled to find a compromise.
But after a glimmer of hope that a deal was close early this week, Boehner - apparently under pressure from anti-tax House Republicans aligned with the conservative Tea Party movement - pressed the "pause" button on negotiations. He then tried to push a backup plan through the House late on Thursday, only to see his fellow Republicans kill it.
Where do Obama and Congress go from here? Here are some possible scenarios.
* Obama and Boehner go back into their secret negotiations.
Before Boehner started touting his failed "Plan B" to boost taxes on those who make more than $1 million, he and Obama were moving closer together on a plan to raise taxes on certain high-income Americans and cut spending. They could pick up where they left off and quickly cut a deal to bridge the gap.
But a compromise with possibly $1 trillion in new taxes and $1 trillion in new, long-term spending cuts could be a tough sell for both Republicans and Democrats in Congress.
Boehner would have to persuade enough Republicans on the idea of tax increases. Obama, meanwhile, would have to get Democrats in Congress to back cuts to some social safety net programs such as Social Security pensions and Medicare and Medicaid health insurance for the elderly and poor. House Republicans appear to be the tougher sell.
* A huge drop in the stock market sends a loud message to Washington politicians to stop arguing and cut a quick but meaningful deal.
That is what happened in late September 2008, after Congress rejected a massive financial bailout package despite warnings by Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary Henry Paulson of an economic collapse if the bill failed.
The Dow Jones Industrial Average plunged more than 700 points and Congress quickly reversed course, approving the $700 billion Troubled Asset Relief Program just days later.
The "fiscal cliff" may not be as dramatic a situation, but the tax increases and cuts in federal spending could deal a stiff blow to the economy.
* No deal happens in the dwindling days of 2012 and the U.S. government jumps off the fiscal cliff - at least temporarily.
On January 1, income taxes would go up on just about everyone. During the first week of January, Congress could scramble and get a quick deal on taxes and the $109 billion in automatic spending cuts that most lawmakers want to avoid.
Why could they reach a deal in January if they fail in December?
The reason would be that once taxes go up, it would be easier to allow a few of those increases to remain in place - mostly on the wealthy - and repeal those that would hit middle- and lower-income taxpayers.
Such a scenario would mean that no member of Congress technically would have to vote for a tax increase on anyone - taxes would have risen automatically - and the only votes would be to decrease tax rates for most Americans back to their 2012 levels.
* No deal occurs for another six weeks or so.
If Congress does not raise the nation's debt limit, by mid-February the Treasury Department likely would exhaust its ability to borrow. That would put the nation at risk of defaulting on its debt.
Republicans have withheld their approval of the debt-limit increase as leverage to try to get the kind of "fiscal cliff" solution they want: Fewer increases in spending and taxes, and more cuts to Social Security, Medicare and Medicaid.
This is the strategy they employed in mid-2011 during the last fight over the debt limit, which is about $16.4 trillion.
Republicans wrung spending cuts out of Democrats in return for new borrowing authority, but paid a political price. Global financial markets were rocked by the long uncertainty brought on by the standoff in Congress, one ratings agency downgraded U.S. credit standing and Republicans saw their public approval ratings sink.
* Boehner decides on a gutsy move: Call a House vote on a bill that would raise tax rates for families with net annual incomes above $250,000, exactly what Obama has sought.
The plan could pass the House with strong Democratic support and some Republican votes. As soon as it passed, the House likely would leave town for the rest of the year without addressing other Obama priorities such as increasing the government's debt limit.
* A partial deal is struck at any point.
Congress could pass a plan that would put off most of the income tax increases that are due in January, or extend some other expiring tax breaks - namely one to prevent middle-class taxpayers from being subject to higher tax rates aimed at the wealthy under the alternative minimum tax.
* Stock markets do not tank and Washington politicians conclude that the "fiscal cliff" is not such a bad thing.
Under this scenario, Congress and the White House could continue sniping at each other throughout 2013 and 2014 as they try to revamp tax policy and impose long-term spending cuts.

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Wall Street Week Ahead: A lump of coal for "Fiscal Cliff-mas"

NEW YORK (Reuters) - Wall Street traders are going to have to pack their tablets and work computers in their holiday luggage after all.
A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff" will push the economy into recession.
Thursday's debacle in the U.S. House of Representatives, where Speaker John Boehner failed to secure passage of his own bill that was meant to pressure President Obama and Senate Democrats, only added to worry that the protracted budget talks will stretch into 2013.
Still, the market remains resilient. Friday's decline on Wall Street, triggered by Boehner's fiasco, was not enough to prevent the S&P 500 from posting its best week in four.
"The markets have been sort of taking this in stride," said Sandy Lincoln, chief market strategist at BMO Asset Management U.S. in Chicago, which has about $38 billion in assets under management.
"The markets still basically believe that something will be done," he said.
If something happens next week, it will come in a short time frame. Markets will be open for a half-day on Christmas Eve, when Congress will not be in session, and will close on Tuesday for Christmas. Wall Street will resume regular stock trading on Wednesday, but volume is expected to be light throughout the rest of the week with scores of market participants away on a holiday break.
For the week, the three major U.S. stock indexes posted gains, with the Dow Jones industrial average <.dji> up 0.4 percent, the S&P 500 <.spx> up 1.2 percent and the Nasdaq Composite Index <.ixic> up 1.7 percent.
Stocks also have booked solid gains for the year so far, with just five trading sessions left in 2012: The Dow has advanced 8 percent, while the S&P 500 has climbed 13.7 percent and the Nasdaq has jumped 16 percent.
IT COULD GET A LITTLE CRAZY
Equity volumes are expected to fall sharply next week. Last year, daily volume on each of the last five trading days dropped on average by about 49 percent, compared with the rest of 2011 - to just over 4 billion shares a day exchanging hands on the New York Stock Exchange, the Nasdaq and NYSE MKT in the final five sessions of the year from a 2011 daily average of 7.9 billion.
If the trend repeats, low volumes could generate a spike in volatility as traders keep track of any advance in the cliff talks in Washington.
"I'm guessing it's going to be a low volume week. There's not a whole lot other than the fiscal cliff that is going to continue to take the headlines," said Joe Bell, senior equity analyst at Schaeffer's Investment Research, in Cincinnati.
"A lot of people already have a foot out the door, and with the possibility of some market-moving news, you get the possibility of increased volatility."
Economic data would have to be way off the mark to move markets next week. But if the recent trend of better-than-expected economic data holds, stocks will have strong fundamental support that could prevent selling from getting overextended even as the fiscal cliff negotiations grind along.
Small and mid-cap stocks have outperformed their larger peers in the last couple of months, indicating a shift in investor sentiment toward the U.S. economy. The S&P MidCap 400 Index <.mid> overcame a technical level by confirming its close above 1,000 for a second week.
"We view the outperformance of the mid-caps and the break of that level as a strong sign for the overall market," Schaeffer's Bell said.
"Whenever you have flight to risk, it shows investors are beginning to have more of a risk appetite."
Evidence of that shift could be a spike in shares in the defense sector, expected to take a hit as defense spending is a key component of the budget talks.
The PHLX defense sector index <.dfx> hit a historic high on Thursday, and far outperformed the market on Friday with a dip of just 0.26 percent, while the three major U.S. stock indexes finished the day down about 1 percent.
Following a half-day on Wall Street on Monday ahead of the Christmas holiday, Wednesday will bring the S&P/Case-Shiller Home Price Index. It is expected to show a ninth-straight month of gains.
U.S. jobless claims on Thursday are seen roughly in line with the previous week's level, with the forecast at 360,000 new filings for unemployment insurance, compared with the previous week's 361,000.

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